The Day's Play Edition 187: Etango clears FID, 20+ copper-gold targets emerge | BMN, CTM, NHU
THE COIN TOSS
Bannerman Energy (ASX:BMN)
Etango Uranium Project Clears Final Investment Decision
Bannerman’s Etango Joint Venture has taken a positive Final Investment Decision (FID), formally committing the Etango Uranium Project in Namibia to full-scale construction. The Etango-8 design forecasts average annual production of 3.5 Mlbs of U₃O₈, with commissioning and first yellowcake production expected during 2028. Forecast pre-production capital expenditure is approximately US$353M (+/-10%), with residual pre-production expenditure funded by approximately US$295M in existing Etango JV cash. Bannerman’s residual working capital contribution is fully funded by its approximately A$175M cash balance, as at 30 September 2026.
Read full ASX Announcement here.
Centaurus Metals (ASX:CTM)
Boi Novo Delivers 20+ New Copper-Gold Targets
Centaurus Metals has defined more than 20 new copper-gold targets across its expanded 75km² Boi Novo Project in Brazil, including 8 high-priority prospects at Rio Novo and 13 targets outside the Nelore prospects at Boi Novo. At Solimões, rock-chip samples returned up to 17.2% copper and 14.3g/t gold along a 2.5km copper-in-soil trend. At Juruá, a 1km gold-in-soil anomaly coincides with copper-gold-bismuth anomalism and a geophysical conductor, with rock chips grading up to 45g/t gold. Drill planning is underway across both project areas.
Read full ASX Announcement here.
Neu Horizon Uranium (ASX:NHU)
Storvallflon Defines 2km Uranium Target Ahead of Drilling
Neu Horizon Uranium has defined a more than 2km electromagnetic conductor at its Storvallflon Prospect in Sweden, supported by 5 exploration datasets. Ground spectrometer readings reached approximately 1,800ppm uranium, while rock-chip assays returned up to 243ppm U₃O₈. Modelling interprets a folded black-shale structure, with subsurface mineralisation yet to be confirmed. A fully funded 4,000m diamond drilling programme is planned for Q1 2027, supported by approximately A$8.6M in cash at 30 September 2026.
Read full ASX Announcement here.
X2M Connect (ASX:X2M)
Second 10MW Data Centre Agreement Takes Capacity to 20MW
X2M Connect has signed an agreement with a Queensland developer for a proposed 10MW AI-enabled data centre, taking capacity under agreement across 2 projects to 20MW, with aggregate estimated project costs exceeding $500M. The site has development approval and an existing 2.5MW grid connection, with the developer planning behind-the-meter generation to supply the remaining 7.5MW by the end of 2028. X2M has binding exclusivity over the site and its power capacity for 60 days, with commercial terms still to be agreed and binding long-form agreements targeted within 90 days. The project has an estimated cost of $250M.
Read full ASX Announcement here.
QMines (ASX:QML)
$1.4M Drilling Business Sale Sharpens Mt Chalmers Focus
QMines has completed the $1.4M sale of its wholly owned drilling subsidiary, QDrilling Pty Ltd, to Gas Field Services Pty Ltd, releasing capital and reducing operational overheads. Consideration is payable in instalments, with the final $250,000 payable in cash or drilling services at QMines’ election. Deferred consideration is secured against QDrilling’s shares and drilling equipment. The existing rig will remain at Mt Chalmers, supporting QMines’ 129-hole, approximately 20,000m drilling programme targeting resource extensions and potential additions to the mine plan. Management will focus on exploration, resource growth and the ongoing Definitive Feasibility Study.
Read full ASX Announcement here.
West Cobar Metals (ASX:WC1)
Salazar Begins First Dedicated Scandium Drilling Campaign
West Cobar Metals has commenced approximately 3,000m of aircore drilling at its 100%-owned Salazar Project in Western Australia, 130km northeast of Esperance. The programme targets higher-grade scandium zones within shallow, clay-rich saprolite and extensions to known mineralisation. Drilling is expected to take 2–3 weeks, with assay results to follow. Metallurgical testwork is progressing in parallel to investigate scandium and rare earth element extraction.
Read full ASX Announcement here.
Eminence Minerals (ASX:EMA)
Eminence Advances 5 Côte d’Ivoire Gold Projects
Eminence Minerals has exercised options to earn an initial 30% interest in 5 gold projects covering approximately 1,508km² in Côte d’Ivoire, subject to completion conditions. Consideration totals US$45,000 in cash and US$45,000 in shares. Eminence will become sole operator upon completion, with initial exploration planned across approximately 871km² of granted tenure. Artisanal workings at Tarato and Kounouman remain unsampled.
Read full ASX Announcement here.
Far East Gold (ASX:FEG)
Bengkulu Alliance Targets Gold Production and Portfolio Funding
Far East Gold has signed a principally non-binding MoU with PT Puncakbaru Jayatama to pursue a staged acquisition of a controlling interest in the Bengkulu Gold Project and funding opportunities across its portfolio. Bengkulu’s historical mining, reported Production Operation licence status and existing pilot processing plant provide a basis to assess a staged production pathway. The parties have outlined a 90-day programme to progress valuations, commercial terms, development planning and financing proposals, with FEG granted 90 days of exclusivity. Any acquisition and funding remain subject to due diligence, definitive agreements and approvals.