BAK: Annual Report to shareholders
Original announcement by asx on
- Company
- Barkly Rare Earths Limited
- Ticker
- BAK
- Exchange
- ASX
- Region
- Northern Territory
- Primary commodity
- Rare earths
- Secondary commodities
- Vanadium, Base metals
- Document categories
- Resource update, Drill results, Metallurgy, Other
- Extracted
- 2026-09-30 09:20:54 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Barkly Rare Earths Limited's Annual Report for FY2026 details significant progress on its Barkly project, including positive initial drill results extending rare earth mineralization over a wide area and an encouraging 99% MREO extraction rate from early-stage metallurgical testwork. Despite exploration delays due to weather, the company successfully completed an IPO, maintaining a strong cash position. The report also restates the project's initial Inferred Mineral Resource for rare earths and vanadium.
Reasoning: The annual report highlights positive new drill results extending rare earth mineralization and an encouraging 99% MREO extraction rate from early-stage metallurgical testwork for the Barkly project. While these are key de-risking steps, the drill results are preliminary (pXRF-screened) and the metallurgy is early-stage sighter testwork, requiring further validation. The resource estimate is a restatement of an Inferred resource.
Positive factors
- strong_mreo_extraction_rate
- positive_drill_intercepts
- extends_mineralization
- high_mreo_treo_ratio
- low_uranium_thorium_concentrations
- successful_ipo
- strong_cash_position
- co_funding_for_exploration_and_metallurgy
- favourable_phosphorus_deportment
Negative factors
- exploration_delays_due_to_weather
- drill_intercepts_pxrf_screened_only
- metallurgy_sighter_test_small_scale_non_representative
- resource_estimate_inferred_only
- financial_loss_for_the_year
- average_drill_width_lower_than_prior
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 42
Classification and evidence
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The Mineral Resource estimates for the Barkly Project remain unchanged from those first reported in the report ‘Barkly and Buntine Projects, Northern Territory, Australia, Independent Technical Report’, included as Annexure A to the Company’s Prospectus dated 1 December 2025.
Evidence · text
“The Mineral Resource estimates for the Barkly Project remain unchanged from those first reported in the report ‘Barkly and Buntine Projects, Northern Territory, Australia, Independent Technical Report’, included as Annexure A to the Company’s Prospectus dated 1 December 2025.”
Inferred Resourcenegative · Story-specific tag
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource estimate is classified as an initial Inferred Mineral Resource Estimate.
Evidence · text
“initial Inferred Mineral Resource Estimate”
All Inferrednegative · Story-specific tag
100% of resource is Inferred category — very early stage, no engineering confidence.
Why it applies: The entire resource estimate for both rare earths and vanadium is classified as Inferred.
Evidence · text
“Total Inferred”
JORC Compliantpositive · Story-specific tag
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The resource estimate is reported in accordance with the JORC Code (2012).
Evidence · text
“reported in accordance with the JORC Code (2012)”
QP/CP Signedpositive · Story-specific tag
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Mineral Resource estimates are signed off by Mr Paul Teniere, a Competent Person.
Evidence · text
“The information in this Annual Report that relates to Mineral Resources is based on information compiled by Mr Paul Teniere, a Competent Person”
Cut-off Disclosedpositive · Story-specific tag
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The resource estimate is reported above a 430 ppm NdPr cut-off grade and a 0.10% V2O5 cut-off grade.
Evidence · text
“430 ppm NdPr cut-off grade”
Deleterious Elements Presentnegative
Penalty elements (arsenic, antimony, etc.) or refractory concerns noted in the release.
Why it applies: The Barkly REE resource has very low uranium and thorium concentrations, which is advantageous from a product handling, processing, and environmental perspective.
Evidence · text
“The Barkly REE resource has very low uranium and thorium concentrations, which is advantageous from a product handling, processing, and environmental perspective”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: Drill intercepts are pXRF-screened intervals only, with full widths pending further assay, meaning the reported width may understate the mineralised zone.
Evidence · text
“pXRF-screened intervals only; full widths pending further assay”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release mentions pXRF screening and pending full assays, indicating QA/QC procedures are in place and disclosed.
Evidence · text
“pXRF-screened intervals only; full widths pending further assay”
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: Drillholes returned significant rare earth intercepts in holes up to 23 km apart across the Exploration Target, suggesting potential for lateral resource expansion.
Evidence · text
“every hole returned significant rare earth intercepts in holes up to 23 km apart across the Exploration Target”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The company reported a 99% MREO extraction rate from a composite sample.
Evidence · text
“99% MREO (Table 3) extraction rate from a composite sample from the Barkly Project”
Recovery Improvingpositive
Recovery improved versus a like-for-like prior test program on the same domain and route.
Why it applies: The 99% MREO extraction result compares with 74% reported from earlier testwork, indicating a significant improvement.
Evidence · text
“The 99% MREO extraction result compares with 74% reported from earlier testwork”
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: The result is from a single sighter test using a non-representative composite with no duplicate test of this route.
Evidence · text
“The result is from a single sighter test using a non-representative composite with no duplicate test of this route”
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: The test used a single sighter test using a non-representative composite, limiting its representativeness.
Evidence · text
“The result is from a single sighter test using a non-representative composite”
Refractory Orenegative
Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk.
Why it applies: The processing route involves caustic conversion and acid leaching, which are more complex than simple leaching, implying refractory characteristics for the rare earth elements.
Evidence · text
“The caustic conversion and acid leach sighter test resulted in 99% of MREO reporting to the combined acid leach liquor”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 2 distinct composites were tested
Extracted facts
Stored fact records: 42. Some facts used in scoring do not have a stored record.
Drill Results (16)
BAK0133Barkly · rare_earthsGrade: 2716Grade Unit: ppmIntercept: 2 mView all detailsHide details
Identity
- Hole ID
- BAK0133
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 2716
- Grade Unit
- ppm
- Intercept
- 2 m
- From
- 11 m
- To
- 13 m
- Intercept Depth
- 11 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0133:11-13
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 2m intercept at 2,716 ppm TREO is a good result for early-stage exploration, extending mineralization, but is based on pXRF screening with full assays pending.
Positive factors
- significant_intercept
- extends_mineralization
Negative factors
- pXRF_screening_only
- full_assays_pending
- average_width_lower_than_prior
Evidence · text
“BAK0133 2,716 ppm TREO (951 ppm MREO): 2 m from 11 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0133Barkly · rare_earthsGrade: 951Grade Unit: ppmIntercept: 2 mView all detailsHide details
Identity
- Hole ID
- BAK0133
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 951
- Grade Unit
- ppm
- Intercept
- 2 m
- From
- 11 m
- To
- 13 m
- Intercept Depth
- 11 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0133:11-13
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 2m intercept at 951 ppm MREO is a good result for early-stage exploration, extending mineralization, but is based on pXRF screening with full assays pending.
Positive factors
- significant_intercept
- extends_mineralization
Negative factors
- pXRF_screening_only
- full_assays_pending
- average_width_lower_than_prior
Evidence · text
“BAK0133 2,716 ppm TREO (951 ppm MREO): 2 m from 11 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0133Barkly · rare_earthsGrade: 6064Grade Unit: ppmIntercept: 0.5 mView all detailsHide details
Identity
- Hole ID
- BAK0133
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 6064
- Grade Unit
- ppm
- Intercept
- 0.5 m
- From
- 11.5 m
- To
- 12 m
- Intercept Depth
- 11.5 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0133:11.5-12
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 0.5m intercept at 6,064 ppm TREO is a very high-grade result, indicating a bonanza component within the broader interval, but is based on pXRF screening with full assays pending.
Positive factors
- bonanza_intercept
- high_grade_component
Negative factors
- pXRF_screening_only
- full_assays_pending
- narrow_intercept
- average_width_lower_than_prior
Evidence · text
“including 6,064 ppm TREO (2,273 ppm MREO): 0.5 m from 11.5 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0133Barkly · rare_earthsGrade: 2273Grade Unit: ppmIntercept: 0.5 mView all detailsHide details
Identity
- Hole ID
- BAK0133
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 2273
- Grade Unit
- ppm
- Intercept
- 0.5 m
- From
- 11.5 m
- To
- 12 m
- Intercept Depth
- 11.5 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0133:11.5-12
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 0.5m intercept at 2,273 ppm MREO is a very high-grade result, indicating a bonanza component within the broader interval, but is based on pXRF screening with full assays pending.
Positive factors
- bonanza_intercept
- high_grade_component
Negative factors
- pXRF_screening_only
- full_assays_pending
- narrow_intercept
- average_width_lower_than_prior
Evidence · text
“including 6,064 ppm TREO (2,273 ppm MREO): 0.5 m from 11.5 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0080Barkly · rare_earthsGrade: 3228Grade Unit: ppmIntercept: 1.5 mView all detailsHide details
Identity
- Hole ID
- BAK0080
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 3228
- Grade Unit
- ppm
- Intercept
- 1.5 m
- From
- 15 m
- To
- 16.5 m
- Intercept Depth
- 15 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0080:15-16.5
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 1.5m intercept at 3,228 ppm TREO is a good result for early-stage exploration, extending mineralization, but is based on pXRF screening with full assays pending.
Positive factors
- significant_intercept
- extends_mineralization
Negative factors
- pXRF_screening_only
- full_assays_pending
- average_width_lower_than_prior
Evidence · text
“BAK0080 3,228 ppm TREO (1,195 ppm MREO): 1.5 m from 15 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0080Barkly · rare_earthsGrade: 1195Grade Unit: ppmIntercept: 1.5 mView all detailsHide details
Identity
- Hole ID
- BAK0080
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 1195
- Grade Unit
- ppm
- Intercept
- 1.5 m
- From
- 15 m
- To
- 16.5 m
- Intercept Depth
- 15 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0080:15-16.5
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 1.5m intercept at 1,195 ppm MREO is a good result for early-stage exploration, extending mineralization, but is based on pXRF screening with full assays pending.
Positive factors
- significant_intercept
- extends_mineralization
Negative factors
- pXRF_screening_only
- full_assays_pending
- average_width_lower_than_prior
Evidence · text
“BAK0080 3,228 ppm TREO (1,195 ppm MREO): 1.5 m from 15 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0080Barkly · rare_earthsGrade: 5170Grade Unit: ppmIntercept: 0.5 mView all detailsHide details
Identity
- Hole ID
- BAK0080
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 5170
- Grade Unit
- ppm
- Intercept
- 0.5 m
- From
- 15.5 m
- To
- 16 m
- Intercept Depth
- 15.5 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0080:15.5-16
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 0.5m intercept at 5,170 ppm TREO is a very high-grade result, indicating a bonanza component within the broader interval, but is based on pXRF screening with full assays pending.
Positive factors
- bonanza_intercept
- high_grade_component
Negative factors
- pXRF_screening_only
- full_assays_pending
- narrow_intercept
- average_width_lower_than_prior
Evidence · text
“including 5,170 ppm TREO (2,053 ppm MREO): 0.5 m from 15.5 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
BAK0080Barkly · rare_earthsGrade: 2053Grade Unit: ppmIntercept: 0.5 mView all detailsHide details
Identity
- Hole ID
- BAK0080
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 2053
- Grade Unit
- ppm
- Intercept
- 0.5 m
- From
- 15.5 m
- To
- 16 m
- Intercept Depth
- 15.5 m
Classification
- Program
- mixed
- Sample Type
- drill
- Group ID
- BAK0080:15.5-16
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 0.5m intercept at 2,053 ppm MREO is a very high-grade result, indicating a bonanza component within the broader interval, but is based on pXRF screening with full assays pending.
Positive factors
- bonanza_intercept
- high_grade_component
Negative factors
- pXRF_screening_only
- full_assays_pending
- narrow_intercept
- average_width_lower_than_prior
Evidence · text
“including 5,170 ppm TREO (2,053 ppm MREO): 0.5 m from 15.5 m”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: drill_program_type is "mixed"
Fact 9Buntine · zincGrade: 667Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- zinc
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 667
- Grade Unit
- ppm
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing zinc mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“Rock chip samples grade up to 667 ppm Zn”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 10Buntine · leadGrade: 1Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- lead
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 1
- Grade Unit
- %
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing lead mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“1% Pb”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 11Buntine · cobaltGrade: 1760Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 1760
- Grade Unit
- ppm
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing cobalt mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“1,760 ppm Co”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 12Buntine · copperGrade: 316Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 316
- Grade Unit
- ppm
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing copper mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“316 ppm Cu”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 13Buntine · manganeseGrade: 10Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- manganese
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 10
- Grade Unit
- %
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing manganese mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“10% Mn”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 14Buntine · nickelGrade: 7100Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- nickel
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 7100
- Grade Unit
- ppm
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing nickel mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“7,100 ppm Ni”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 15Buntine · chromiumGrade: 239Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Buntine
- Commodity
- chromium
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 239
- Grade Unit
- ppm
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing chromium mineralisation at Buntine, indicating polymetallic potential.
Positive factors
- polymetallic_mineralisation
Negative factors
- historical_data
- surface_sample_only
Evidence · text
“239 ppm Cr”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 16Barkly · vanadiumGrade: 1.26Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- vanadium
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- BAK
Geometry
- Grade
- 1.26
- Grade Unit
- %
Classification
- Sample Type
- surface
QA/QC
- QA/QC Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical rock chip sample showing high-grade vanadium at Barkly, indicating early potential, but from old data.
Positive factors
- high_grade_component
Negative factors
- historical_data
- surface_sample_only
- old_data
Evidence · text
“highly anomalous vanadium in rock-chip samples with up to 1.26% V2O5”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Resource Estimates (22)
inferredBarkly · rare_earthsTonnes: 25000000Grade: 1700Grade Unit: ppmContained Metal: 42000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 1700
- Grade Unit
- ppm
- Contained Metal
- 42000
- Contained Unit
- t
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for TREO at Vanadis, which is positive for project definition but low novelty. The MREO/TREO ratio is 36%.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“1,700”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · rare_earthsTonnes: 25000000Grade: 600Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 600
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for NdPr at Vanadis, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“600”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 25000000Grade: 630Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 630
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for MREO at Vanadis, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“630”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 25000000Grade: 130Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 130
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for HREO at Vanadis, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“130”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · uraniumTonnes: 25000000Grade: 3Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- uranium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 3
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for uranium at Vanadis, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“3”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · thoriumTonnes: 25000000Grade: 6Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- thorium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:45c5c7dae6cf686b2c04
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 25000000
- Grade
- 6
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for thorium at Vanadis, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“6”
Context: 25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 15000000Grade: 2700Grade Unit: ppmContained Metal: 40000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 2700
- Grade Unit
- ppm
- Contained Metal
- 40000
- Contained Unit
- t
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for TREO at Benmara North, which is positive for project definition but low novelty. The MREO/TREO ratio is 32%.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“2,700”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · rare_earthsTonnes: 15000000Grade: 820Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 820
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for NdPr at Benmara North, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“820”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 15000000Grade: 840Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 840
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for MREO at Benmara North, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“840”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 15000000Grade: 150Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 150
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for HREO at Benmara North, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“150”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · uraniumTonnes: 15000000Grade: 3Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- uranium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 3
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for uranium at Benmara North, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“3”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · thoriumTonnes: 15000000Grade: 9Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- thorium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:39ceb946fe7c3030f3f6
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 15000000
- Grade
- 9
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for thorium at Benmara North, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“9”
Context: 15
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 40000000Grade: 2100Grade Unit: ppmContained Metal: 82000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 2100
- Grade Unit
- ppm
- Contained Metal
- 82000
- Contained Unit
- t
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for TREO, which is positive for project definition but low novelty. The MREO/TREO ratio is 34%.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“2,100”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · rare_earthsTonnes: 40000000Grade: 690Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 690
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for NdPr, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“690”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 40000000Grade: 710Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 710
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for MREO, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“710”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · rare_earthsTonnes: 40000000Grade: 130Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 130
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for HREO, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- shallow_resource
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“130”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · uraniumTonnes: 40000000Grade: 3Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- uranium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 3
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for uranium, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“3”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · thoriumTonnes: 40000000Grade: 7Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- thorium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:d107a3eb1632fadd81f8
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 7
- Grade Unit
- ppm
- Cutoff Grade
- 430
- Cutoff Unit
- ppm NdPr
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for thorium, notable for low concentrations which is a positive processing indicator.
Positive factors
- low_deleterious_elements
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“7”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredBarkly · vanadiumTonnes: 40000000Grade: 0.13Grade Unit: % V2O5Contained Metal: 55000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- vanadium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:02339c1d18b56029cf6a
- Deposit or zone
- Vanadis
Resource Data
- Category
- inferred
- Tonnes
- 40000000
- Grade
- 0.13
- Grade Unit
- % V2O5
- Contained Metal
- 55000
- Contained Unit
- t
- Cutoff Grade
- 0.1
- Cutoff Unit
- % V2O5
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for vanadium at Vanadis, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“0.13”
Context: 40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · vanadiumTonnes: 100000000Grade: 0.12Grade Unit: % V2O5Contained Metal: 120000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- vanadium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:4ebc47a04c9931e1d4cc
- Deposit or zone
- Benmara North
Resource Data
- Category
- inferred
- Tonnes
- 100000000
- Grade
- 0.12
- Grade Unit
- % V2O5
- Contained Metal
- 120000
- Contained Unit
- t
- Cutoff Grade
- 0.1
- Cutoff Unit
- % V2O5
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for vanadium at Benmara North, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“0.12”
Context: 100
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · vanadiumTonnes: 60000000Grade: 0.12Grade Unit: % V2O5Contained Metal: 65000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- vanadium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:b6847c6ed53bd77413bd
- Deposit or zone
- Benmara South
Resource Data
- Category
- inferred
- Tonnes
- 60000000
- Grade
- 0.12
- Grade Unit
- % V2O5
- Contained Metal
- 65000
- Contained Unit
- t
- Cutoff Grade
- 0.1
- Cutoff Unit
- % V2O5
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for vanadium at Benmara South, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“0.12”
Context: 60
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBarkly · vanadiumTonnes: 200000000Grade: 0.12Grade Unit: % V2O5Contained Metal: 240000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- vanadium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Paul Teniere
- Resource group id
- resource:9a60a5bf94f39208b863
- Deposit or zone
- Total
Resource Data
- Category
- inferred
- Tonnes
- 200000000
- Grade
- 0.12
- Grade Unit
- % V2O5
- Contained Metal
- 240000
- Contained Unit
- t
- Cutoff Grade
- 0.1
- Cutoff Unit
- % V2O5
Prior Estimate
- Resource Date
- 2025-12-01
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Restatement of an initial Inferred Mineral Resource for vanadium, which is positive for project definition but low novelty.
Positive factors
- JORC_compliant
- cut_off_disclosed
Negative factors
- inferred_resource_only
- restatement_of_prior_estimate
Evidence · table
“0.12”
Context: 200
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Metallurgical Results (4)
sighter testBarkly · rare_earthsRecovery: 99 %Head Grade: 970Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Test Work
- Program Status
- preliminary
- Test Type
- sighter test
- Processing Route
- caustic conversion and acid leach
- Sample
- composite sample 24C001
- Leach Time
- 4 hours
Recovery
- Recovery
- 99 %
- Recovery Basis
- actual_test
- Head Grade
- 970
- Head Grade Unit
- ppm
Reagents
- Reagent Notes
- caustic conversion at 150°C for two hours, HCl leaching at 50°C for two hours to a target pH of 1
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: An exceptional 99% MREO extraction rate from early-stage sighter testwork is a strong positive, showing improvement over prior tests, but the test is small-scale, non-representative, and has head reconciliation issues, lowering confidence.
Positive factors
- high_recovery
- excellent_extraction_rate
- favourable_phosphorus_deportment
- recovery_improving
Negative factors
- bench_scale_only
- single_domain_only
- non_representative_sample
- head_reconciliation_issues
- conditions_not_optimised
- downstream_purification_not_demonstrated
Evidence · text
“99% MREO (Table 3) extraction rate from a composite sample from the Barkly Project”
sighter testBarkly · yttriumRecovery: 94 %Head Grade: 39Head Grade Unit: ppmView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- yttrium
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Test Work
- Program Status
- preliminary
- Test Type
- sighter test
- Processing Route
- caustic conversion and acid leach
- Sample
- composite sample 24C001
- Leach Time
- 4 hours
Recovery
- Recovery
- 94 %
- Recovery Basis
- actual_test
- Head Grade
- 39
- Head Grade Unit
- ppm
Reagents
- Reagent Notes
- caustic conversion at 150°C for two hours, HCl leaching at 50°C for two hours to a target pH of 1
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A strong 94% yttrium extraction rate from early-stage sighter testwork is positive, but the test is small-scale, non-representative, and has head reconciliation issues, lowering confidence.
Positive factors
- high_recovery
- excellent_extraction_rate
Negative factors
- bench_scale_only
- single_domain_only
- non_representative_sample
- head_reconciliation_issues
- conditions_not_optimised
- downstream_purification_not_demonstrated
Evidence · text
“94% of yttrium reporting to those streams”
sighter testBarkly · phosphorusRecovery: 92 %Head Grade: 0.28Head Grade Unit: %View all detailsHide details
Identity
- Project
- Barkly
- Commodity
- phosphorus
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Test Work
- Program Status
- preliminary
- Test Type
- sighter test
- Processing Route
- caustic conversion
- Sample
- composite sample 24C001
- Leach Time
- 2 hours
Recovery
- Recovery
- 92 %
- Recovery Basis
- actual_test
- Head Grade
- 0.28
- Head Grade Unit
- %
Reagents
- Reagent Notes
- caustic conversion at 150°C for two hours
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A 92% phosphorus deportment to the caustic conversion liquor is a positive early processing indicator, simplifying future purification, but from a small-scale sighter test.
Positive factors
- favourable_phosphorus_deportment
- simplifies_future_purification
Negative factors
- bench_scale_only
- single_domain_only
- non_representative_sample
- conditions_not_optimised
Evidence · text
“92% of phosphorus reported to the caustic conversion liquor and associated washes”
sighter testBarkly · rare_earthsRecovery: 74 %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Barkly
- Commodity
- rare_earths
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- BAK
Test Work
- Program Status
- preliminary
- Test Type
- sighter test
- Processing Route
- NaOH treatment followed by HCl leaching
- Sample
- earlier testwork
Recovery
- Recovery
- 74 %
- Recovery Basis
- actual_test
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical MREO extraction rate of 74% from earlier testwork, used for comparison with new results.
Negative factors
- bench_scale_only
- unspecified_sample
- historical_data
Evidence · text
“74% reported from earlier testwork using NaOH treatment followed by HCl leaching”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.