Resources Top 5: Lode’s high-grade Magwood hits strengthen antimony position

  • High-grade antimony returned by LDR in initial drilling at Magwood
  • Selling the Mount Mason DSO hematite project represents a win-win for JNO
  • CUF raises $5.4 million in a private placement to four investors

 

Your standout small cap resources stocks for Friday, October 17, 2025. 

 

Lode Resources (ASX:LDR)

At a time when the Western world has been caught short of critical metals, Lode Resources (ASX:LDR) is in a position of strength with its Magwood antimony project in NSW and the Montezuma silver-antimony project in Tasmania.

The company has bolstered its position at Magwood in an Australian antimony hotspot, the New England region of NSW, after intersecting up to 31.1% antimony in its inaugural drilling for the key critical mineral.

Its share price hit a record 39c, a 50% increase, and emerged from this afternoon’s market jitters relatively unscathed, finishing at 31.5c, up 21.15%.

Magwood is no stranger to antimony as it includes a past-producing mine and is 40km NNW of the Hillgrove antimony mine.  

And it has never been drilled, despite being Australia’s leading primary antimony producer for periods between 1920 and 1970.

Assays from drill hole MAG010 in the first-pass drilling include:

  • 4.8m at 9.92% Sb from 81.5m, including 2.4m at 19.61% and 1.3m at 28.57%;
  • 3m at 1.96% Sb from 103m, including 0.3m at 16.60%; and
  • 1.9m at 2.20% Sb from 77m.

Other results include: 

  • 0.2m at 19.20% Sb from 66.5m in hole MAG008; and
  • 0.9m at 1.28% Sb from 35.7m in drill MAG007.

Assays from stope fill with stibnite mineralisation include:

  • 3.08% Sb recovered from a 12.4m void in hole MAG002;
  • 2.66% Sb recovered from a 1.7m void in hole MAG010; and
  • 0.22% Sb recovered from a 7.9m void in hole MAG004.

The assays indicate the potential for significant unmined in situ antimony adjacent to existing workings missed by historical miners. 

Two individual core assays from MAG010 graded 31.1% and 26.4% Sb, demonstrating the potential for massive stibnite style mineralisation.

LDR is the largest holder of exploration ground in the New England Fold Belt and the Magwood structure can be traced for 2.5km to the south-southeast.

“These inaugural drill results from the Magwood antimony mine are extremely encouraging given the strong endowment of intercepted primary antimony mineralisation that was missed by previous mining and the presence of mineralised stope fill,” Lode’s MD Ted Leschke said. 

“Together, the Magwood Antimony Project and the Montezuma Silver & Antimony Project, where drilling is ongoing, place Lode Resources in a formidable position.” 

 

 

Juno Minerals (ASX:JNO)

Selling the fully permitted Mount Mason DSO hematite project in WA to Gold Valley Yilgarn (GVY) represents a win-win for Juno Minerals (ASX:JNO) with the sale proceeds of $6m augmenting cash reserves and the 2% FOB royalty providing an income stream.

JNO received the first $3m of the consideration on June 12, 2025, and received the balance upon completion of the sale earlier this month.

Shares reached 5.3c, a 12-month high and an increase of 89.29% on the previous close.

After project reviews and optimisations, Juno considered that it was unlikely to develop Mount Mason considering the capital expenditure required for what is a small standalone project.  

It is, however, a project that will add to and complement GVY’s production from Wiluna into their established supply chain to the Port of Esperance. 

As well as the benefits to Juno, the sale provides a decreased capital entry into the project for GVY with the use of existing Juno infrastructure and a project permitted for development. 

Juno will grant GVY a non-exclusive, 8-year licence to construct and use an approved 27km haul road from the proposed mine site to the Menzies North-West Road, which traverses Juno’s Mt Ida mining tenements that are not part of the sale. 

The licence will enable GVY to haul Mount Mason DSO to Kalgoorlie, for it then to be loaded onto rail for haul to the Port of Esperance.

To enable GVY to undertake human resourcing for project development and mining, Juno has agreed to lease its Cassini Village to GVY for a nominal monthly fee.

GVY has informed Juno that it plans to mobilise to site to establish and begin a DSO mining operation in mid-2026.

The 2% royalty is payable to Juno on the revenue from all iron ore produced from the project tenements, with payment secured by the grant of mining mortgages over the project tenements.

Juno proposes to use sale proceeds to maintain its Mount Ida magnetite project, explore new opportunities and for general working capital.

Mount Ida has a resource of 1.85Bt at 29.48% Fe on a granted mining lease and is the largest magnetite resource in the Yilgarn.

 

 

CuFe (ASX:CUF)

CuFe this week secured $5.4 million in capital through a private placement as it moves toward the next phase of exploration drilling and studies at its Tennant Creek copper-gold project in the NT.

The funds were raised through the issue of 318m shares at 1.7c each – a premium of 9% to the five-day volume weighted average price – to just four participants led by critical minerals and strategic defence sector focused investor Mathew August.

Other participants include a leading institutional investment fund and two other high-net-worth investors from North America and Australia, strengthening CuFe’s (ASX:CUF) register with the addition of long-only strategic investors aligned with its vision and corporate execution strategy.

The placement includes one free attaching unlisted option with an exercise price of 5c and expiring November 30, 2027, for every two shares subscribed for.

Proceeds will be used to fund exploration and feasibility work at the company’s flagship Tennant Creek project.

 

 

Mt Malcolm Mines (ASX:M2M)

Mt Malcolm Mines (ASX:M2M) has recorded strong gold results of up to 1m at 4.47g/t at Picnic South prospect within its Malcolm project in WA, confirming a continuous corridor over a strike of 700m.

Two prospective areas have been drilled at Sunday Picnic prospect – Sunday Underground and Picnic South.

At Sunday Underground shallow quartz reef–style gold mineralisation extends over ~250m of strike, historically mined and recently validated by drilling with potential for depth and strike extensions.

At Picnic South, structurally controlled gold mineralisation has been defined along a ~700m strike corridor. Multiple intersections were returned including: 

  • 1m at 4.47g/t Au from 87m; 
  • 1m at 3.83g/t Au from 64m; and 
  • 1m at 2.49g/t Au from 48m.

M2M says these intersections demonstrate strong grade–thickness continuity, confirming that mineralisation remains open along down dip and strike aligns the KKTZ shear zone.

The plan now is to delineate a mineral resource estimate at Sunday Picnic, within the shallow, well-constrained mineralised corridor of ~700m in strike length.

 

 

Nova Minerals (ASX:NVA)

Nova Minerals (ASX:NVA) is undertaking a forward split to better align the company’s US share price with industry peers and enhance liquidity.

This will result in a ratio change to NVA’s Nasdaq listed American Depositary Receipt (ADR) program with The Bank of New York Mellon and there will be no change to the ASX-listed shares or the total number of shares on issue for the company.

The former ratio of 60 ordinary shares to one ADS has been changed to 12 ordinary shares per one ADS, effective on October 28, 2025.

“The decision to undertake a forward split of our Nasdaq-listed ADSs reflects Nova Minerals’ confidence in the Company’s strong growth trajectory and expanding global investor interest,” CEO Christopher Gerteisen said. 

“As we advance our world-class gold and antimony assets toward production, this move is designed to better align our US trading price with that of our peers, enhance liquidity and attract a broader base of institutional and retail investors in North America.” 

 

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While CuFe and Mt Malcolm Mines are Stockhead advertisers, they did not sponsor this article.

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