Daily Roundup

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Killi Resources makes major iron ore play in Western Australia

Killi Resources has announced the acquisition of the Lodestone Iron Ore Project, marking a significant expansion into the Mid-West Iron Ore District. The project sits on 25 kilometers of iron ore mineralization and boasts high-purity iron ore concentrate grading 68-70% Fe. With an inferred resource of 110 million tonnes at 33% mass recovery, the project covers only about 20% of the known magnetite mineralization—leaving substantial room for resource growth.

What makes Lodestone particularly attractive is its location. Positioned near major steel producers with existing infrastructure including road, rail, and power networks, the project is approximately 200 kilometers from the Port of Geraldton. The coarse crystalline magnetite body also allows for cheaper processing compared to nearby operations, a meaningful advantage in a competitive market.

Killi has fully funded the acquisition through to the Prefeasibility Study via a $15 million share placement, leaving the company with approximately $18.5 million in cash. The company plans aggressive drilling campaigns to work through the 25-kilometer mineralized system, targeting multiple resource upgrades over the next 12 months. Hamish Halliday, a geologist with extensive experience, has joined the board as Non-Executive Director to support the expansion.

The timing aligns well with market tailwinds. Killi is positioning itself to capitalize on the high-purity, high-value direct reduction magnetite market, which is being driven by the global shift toward green steel production.

Norfolk Metals eyes major Chilean copper prize

Norfolk Metals has entered into a binding agreement to acquire the Ciclón Copper Project in Chile for USD $50 million—a transformational move for the company. The deal comprises USD $45 million in cash and USD $5 million in Norfolk shares, with closure expected in August 2026.

The Ciclón project, located in the Domeyko Cordillera, is an advanced copper asset with a foreign mineral resource estimate of 10.1 million tonnes at 2.97% copper equivalent. The acquisition will significantly expand Norfolk's copper exploration and production footprint in the South American region.

To fund the deal, Norfolk is planning to raise a minimum of AUD $100 million through a public offer. The company has also bolstered its leadership team, with experienced executives Anthony McClure and Andrew Bray joining the board to guide the integration and development of the Chilean asset.

Orpheus Uranium expands South Australian footprint

Orpheus Uranium has acquired a 100% interest in seven exploration licenses from Adavale Resources, covering approximately 2,513 square kilometers in the Northern Flinders Ranges. The move significantly enhances Orpheus' position in South Australia's Lake Eyre Basin, a region known for its sedimentary roll-front uranium mineralization.

The acquired tenure is contiguous with Orpheus' existing Marree Project and includes historical drilling data showing uranium anomalism, with peak responses exceeding 450 parts per million equivalent uranium oxide. The transaction includes existing Native Title Mining Agreements, providing a clear pathway for future exploration activities.

From Adavale's perspective, the sale represents a strategic portfolio refinement. The company received $650,000 in cash and 5 million Orpheus shares—approximately 1.4% of ORP's issued capital—allowing it to sharpen its focus on gold-copper assets within the Belt-Scale Parkes Project in New South Wales. Adavale retains uranium price exposure through its meaningful shareholding in Orpheus, positioning it to participate in any value creation at the Marree Project while pursuing its core gold-copper strategy.

PC Gold bolsters Spring Hill with camp acquisition

PC Gold has executed a binding agreement to acquire the former Territory Iron camp at Pine Creek in the Northern Territory for A$770,000 plus GST. Located approximately 30 minutes by road from the Spring Hill Gold Project, the camp includes 16 accommodation blocks, office facilities, and storage infrastructure.

The acquisition is expected to significantly reduce development lead times and capital requirements for the Spring Hill project. PC Gold plans to refurbish the camp during the second half of 2026, positioning it to support ongoing exploration, feasibility, and development activities.

Rent.com.au hits record RentBond volumes and positive cashflow

Rent.com.au has released a trading update showcasing strong operational momentum. May delivered a new record for RentBond loan volumes funded, with April and May results indicating accelerating revenue growth and EBITDA improvement compared to the same period last year and Q3 FY26.

The company is now on track to achieve its 2027 targets of becoming EBITDA positive and doubling revenue by Q2 FY27. Notably, the company has posted its second consecutive quarter of positive operating cashflow, demonstrating improving unit economics across its platform.

Recurring revenue now represents over 75% of Group revenue, exceeding the FY27 target of 70%—a sign of a increasingly stable, predictable business model. A new referral partnership with Homely.com.au is now live and expected to contribute to RentBond volumes from June 2026. The Group remains well capitalized and positioned to deliver another quarter of positive operating cashflow.