CHR: Annual Report to shareholders
Original announcement by asx on
- Company
- Charger Metals NL
- Ticker
- CHR
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Lithium
- Secondary commodities
- Tantalum, Rubidium
- Document categories
- Resource update, Agreement transaction, Other
- Extracted
- 2026-09-30 01:06:06 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Charger Metals NL announced a significant update to its Medcalf Lithium Deposit Mineral Resource Estimate at the Lake Johnston Lithium Project in Western Australia, increasing the total Inferred resource to 12.8 Mt at 0.87% Li2O and 112 ppm Ta2O5, representing a substantial increase in contained lithium from the previous estimate. The company also reported positive initial metallurgical test work results and confirmed plans for further drilling and a scoping study. Additionally, Charger completed the sale of its Bynoe Lithium Project for up to $14.75 million, providing funding for ongoing work at Lake Johnston.
Reasoning: The updated Medcalf MRE shows a substantial 34% increase in contained lithium, supported by positive metallurgical test work and plans for further development, significantly de-risking the project despite the resource remaining entirely in the Inferred category. The sale of the Bynoe project also provides strong funding.
Positive factors
- Significant increase in contained Li2O (34%) from prior estimate, indicating substantial growth.
- New Tantalum MRE lodes confirmed, adding value.
- Resource remains open at depth and along strike, suggesting further upside potential.
- Committed drilling programme for infill and extensional drilling aims to double metres drilled, indicating active development.
- Initial metallurgical test work confirmed excellent results for crushing, screening, and ore-sorting, with high Li2O recovery and reduced iron content.
- Initial mining study confirmed critical mass for a mine, supporting economic viability.
- Fast-tracking permitting and commencement of a scoping study over the Medcalf deposit.
- Sale of Bynoe Lithium Project provides significant funding for further drilling and studies at Lake Johnston.
Negative factors
- All reported resources are in the Inferred category, which is the lowest confidence level and cannot support economic studies alone.
Facts used in scoring: 16
Classification and evidence
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The total contained Li2O increased from 83 kt in August 2025 to 111 kt in June 2026, representing a 33.7% increase.
Evidence · text
“Medcalf Mineral Resource Significant Increase In June 2026, the Company announced a revised Inferred Mineral Resource Estimate for the Medcalf Lithium Deposit of 10.6Mt at 1.0% Li2O and 107ppm Ta2O5 (106kt contained Li2O), a significant increase in contained Li2O from the maiden MRE announced in August 2025.”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The total MRE tonnage increased from 8.3 Mt in August 2025 to 12.8 Mt in June 2026, representing a 54.2% increase.
Evidence · table
“12.8”
Context: Total MRE
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: All reported resource categories in the June 2026 MRE are classified as Inferred.
Evidence · table
“Inferred”
Context: Medcalf Lithium Pegmatites
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate is explicitly stated as JORC 2012 compliant.
Evidence · text
“JORC 2012 Inferred Lithium Mineral Resource Estimates”
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: The Mineral Resource and Exploration Target estimates are based on information compiled by Shaun Searle, a Member of the Australian Institute of Geoscientists.
Evidence · text
“The information in this announcement that relates to Mineral Resource and Exploration Target estimates is based on information compiled by Shaun Searle BSc. Hons (Applied Geology), who is a Member of the Australian Institute of Geoscientists.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces a 'revised Inferred Mineral Resource Estimate' for the Medcalf Lithium Deposit, building on a maiden MRE from August 2025.
Evidence · text
“In June 2026, the Company announced a revised Inferred Mineral Resource Estimate for the Medcalf Lithium Deposit”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grades for both lithium and tantalum MREs are clearly stated.
Evidence · text
“Lithium MRE is calculated using a 0.4% Li2O bottom cut-off and Tantalum MRE is calculated using a 65ppm Ta2O5 bottom cut-off.”
Free Millingpositive · Story-specific tag
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: Initial metallurgical test work confirmed excellent results for crushing, screening and ore-sorting, with high Li2O recovery and reduced iron content.
Evidence · text
“Initial metallurgical test work confirmed excellent results for crushing, screening and ore-sorting, with Li2O grade increasing from 1.01% to 1.32% (31% increase) at 94.9% recovery, and iron content reduced to 1.27% Fe with 78% of the detrimental Fe units rejected as waste.”
High Recoverypositive · Story-specific tag
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Initial metallurgical test work achieved 94.9% recovery for Li2O.
Evidence · text
“94.9% recovery”
Asset Saleneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The company entered into a binding Sale and Purchase Agreement to sell its 100% interest in the Bynoe Lithium Project.
Evidence · text
“On 19 June 2026 the Company entered into a binding Sale and Purchase Agreement to sell its 100% interest in the Bynoe Lithium Project (EL30897, Northern Territory) to Core Lithium Limited’s (ASX: CXO; “Core”) 100% owned subsidiary Bynoe Lithium Pty Ltd”
Funding Securedpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The sale proceeds from the Bynoe Lithium Project provide funding for further drilling and studies at the Lake Johnston Lithium Project.
Evidence · text
“The sale proceeds provide funding for further drilling at Medcalf as well as mining and processing studies to demonstrate the economics of the Lake Johnston Lithium Project.”
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: The overall Li2O grade for the total MRE decreased from 1.00% in August 2025 to 0.87% in June 2026, a 13% decrease.
Evidence · table
“0.87”
Context: Total MRE
Extracted facts
Stored fact records: 16. Some facts used in scoring do not have a stored record.
Resource Estimates (16)
inferredLake Johnston Lithium Project · lithiumTonnes: 310000Grade: 0.94Grade Unit: % Li2OContained Metal: 2900Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- lithium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:b5b9ba2bfd99a5dab651
- Deposit or zone
- Medcalf Lithium Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 310000
- Grade
- 0.94
- Grade Unit
- % Li2O
- Contained Metal
- 2900
- Contained Unit
- t
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
- Prior Tonnes
- 270000
- Prior Grade
- 0.96
- Prior Contained Metal
- 2600
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The weathered lithium pegmatite resource shows a moderate increase in tonnage and contained metal, though with a slight decrease in grade, and remains in the Inferred category.
Positive factors
- Tonnage increased by 14.8% from prior estimate.
- Contained metal increased by 11.5% from prior estimate.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Grade slightly decreased by 2.1% from prior estimate.
- Resource remains in the Inferred category.
Evidence · table
“0.94”
Context: 0.31
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
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 2900 against 2600 previously
inferredLake Johnston Lithium Project · tantalumTonnes: 310000Grade: 109Grade Unit: ppm Ta2O5View all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- tantalum
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:b5b9ba2bfd99a5dab651
- Deposit or zone
- Medcalf Lithium Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 310000
- Grade
- 109
- Grade Unit
- ppm Ta2O5
- Cutoff Grade
- 65
- Cutoff Unit
- ppm Ta2O5
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inclusion of tantalum grades for this zone adds potential value, though it's a new reporting for this specific commodity and zone.
Positive factors
- Tantalum grades are reported alongside lithium, indicating polymetallic potential.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- No prior tantalum estimate for direct comparison in this zone.
Evidence · table
“109”
Context: 0.31
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
inferredLake Johnston Lithium Project · rubidiumTonnes: 310000Grade: 0.12Grade Unit: % Rb2OView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- rubidium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:b5b9ba2bfd99a5dab651
- Deposit or zone
- Medcalf Lithium Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 310000
- Grade
- 0.12
- Grade Unit
- % Rb2O
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The reporting of rubidium grades adds to the polymetallic nature of the resource, potentially offering byproduct value.
Positive factors
- Rubidium grades are reported, indicating potential byproduct credits.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- No prior rubidium estimate for direct comparison in this zone.
Evidence · table
“0.12”
Context: 0.31
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
inferredLake Johnston Lithium Project · lithiumTonnes: 10300000Grade: 1Grade Unit: % Li2OContained Metal: 103000Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- lithium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:31e05c19eb302b15eb47
- Deposit or zone
- Medcalf Lithium Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 10300000
- Grade
- 1
- Grade Unit
- % Li2O
- Contained Metal
- 103000
- Contained Unit
- t
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
- Prior Tonnes
- 8000000
- Prior Grade
- 1
- Prior Contained Metal
- 80000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The primary lithium pegmatite resource shows a substantial increase in both tonnage and contained metal while maintaining grade, indicating significant growth and potential.
Positive factors
- Significant tonnage increase of 28.8% from prior estimate.
- Significant contained metal increase of 28.8% from prior estimate, with grade maintained.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“1.00”
Context: 10.3
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
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 10300000 against 8000000 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 103000 against 80000 previously
inferredLake Johnston Lithium Project · tantalumTonnes: 10300000Grade: 107Grade Unit: ppm Ta2O5View all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- tantalum
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:31e05c19eb302b15eb47
- Deposit or zone
- Medcalf Lithium Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 10300000
- Grade
- 107
- Grade Unit
- ppm Ta2O5
- Cutoff Grade
- 65
- Cutoff Unit
- ppm Ta2O5
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inclusion of tantalum grades for this zone adds potential value, though it's a new reporting for this specific commodity and zone.
Positive factors
- Tantalum grades are reported alongside lithium, indicating polymetallic potential.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- No prior tantalum estimate for direct comparison in this zone.
Evidence · table
“107”
Context: 10.3
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
inferredLake Johnston Lithium Project · rubidiumTonnes: 10300000Grade: 0.13Grade Unit: % Rb2OView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- rubidium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:31e05c19eb302b15eb47
- Deposit or zone
- Medcalf Lithium Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 10300000
- Grade
- 0.13
- Grade Unit
- % Rb2O
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The reporting of rubidium grades adds to the polymetallic nature of the resource, potentially offering byproduct value.
Positive factors
- Rubidium grades are reported, indicating potential byproduct credits.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- No prior rubidium estimate for direct comparison in this zone.
Evidence · table
“0.13”
Context: 10.3
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
inferredLake Johnston Lithium Project · lithiumTonnes: 100000Grade: 0.12Grade Unit: % Li2OContained Metal: 200Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- lithium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:174efd89b8bd6aaeb1fb
- Deposit or zone
- Medcalf Tantalum Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 100000
- Grade
- 0.12
- Grade Unit
- % Li2O
- Contained Metal
- 200
- Contained Unit
- t
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This represents a new, albeit low-grade, lithium component within the newly defined tantalum pegmatite lodes, contributing to overall resource growth.
Positive factors
- New MRE lodes confirmed for tantalum pegmatites, adding new resource areas.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Low lithium grade for this zone.
- Resource remains in the Inferred category.
Evidence · table
“0.12”
Context: 0.1
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
inferredLake Johnston Lithium Project · tantalumTonnes: 100000Grade: 136Grade Unit: ppm Ta2O5View all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- tantalum
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:174efd89b8bd6aaeb1fb
- Deposit or zone
- Medcalf Tantalum Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 100000
- Grade
- 136
- Grade Unit
- ppm Ta2O5
- Cutoff Grade
- 65
- Cutoff Unit
- ppm Ta2O5
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This represents a new tantalum resource within the weathered tantalum pegmatite lodes, contributing to the overall polymetallic potential of the project.
Positive factors
- New MRE lodes of 2.2Mt at 132ppm Ta2O5 confirmed, adding new tantalum resources.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“136”
Context: 0.1
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
inferredLake Johnston Lithium Project · rubidiumTonnes: 100000Grade: 0.06Grade Unit: % Rb2OView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- rubidium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:174efd89b8bd6aaeb1fb
- Deposit or zone
- Medcalf Tantalum Pegmatites - Weathered
Resource Data
- Category
- inferred
- Tonnes
- 100000
- Grade
- 0.06
- Grade Unit
- % Rb2O
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The reporting of rubidium grades adds to the polymetallic nature of the new tantalum pegmatite resource, potentially offering byproduct value.
Positive factors
- Rubidium grades are reported, indicating potential byproduct credits.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“0.06”
Context: 0.1
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
inferredLake Johnston Lithium Project · lithiumTonnes: 2000000Grade: 0.24Grade Unit: % Li2OContained Metal: 5000Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- lithium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:403503a0458d8e19f9cc
- Deposit or zone
- Medcalf Tantalum Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 2000000
- Grade
- 0.24
- Grade Unit
- % Li2O
- Contained Metal
- 5000
- Contained Unit
- t
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This represents a new, albeit low-grade, lithium component within the newly defined primary tantalum pegmatite lodes, contributing to overall resource growth.
Positive factors
- New MRE lodes confirmed for tantalum pegmatites, adding new resource areas.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Low lithium grade for this zone.
- Resource remains in the Inferred category.
Evidence · table
“0.24”
Context: 2.0
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
inferredLake Johnston Lithium Project · tantalumTonnes: 2000000Grade: 132Grade Unit: ppm Ta2O5Contained Metal: 5000Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- tantalum
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:403503a0458d8e19f9cc
- Deposit or zone
- Medcalf Tantalum Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 2000000
- Grade
- 132
- Grade Unit
- ppm Ta2O5
- Contained Metal
- 5000
- Contained Unit
- t
- Cutoff Grade
- 65
- Cutoff Unit
- ppm Ta2O5
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This represents a new tantalum resource within the primary tantalum pegmatite lodes, contributing to the overall polymetallic potential of the project.
Positive factors
- New MRE lodes of 2.2Mt at 132ppm Ta2O5 confirmed, adding new tantalum resources.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“132”
Context: 2.0
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
inferredLake Johnston Lithium Project · rubidiumTonnes: 2000000Grade: 0.09Grade Unit: % Rb2OView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- rubidium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:403503a0458d8e19f9cc
- Deposit or zone
- Medcalf Tantalum Pegmatites - Primary
Resource Data
- Category
- inferred
- Tonnes
- 2000000
- Grade
- 0.09
- Grade Unit
- % Rb2O
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The reporting of rubidium grades adds to the polymetallic nature of the new tantalum pegmatite resource, potentially offering byproduct value.
Positive factors
- Rubidium grades are reported, indicating potential byproduct credits.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“0.09”
Context: 2.0
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
inferredLake Johnston Lithium Project · lithiumTonnes: 12800000Grade: 0.87Grade Unit: % Li2OContained Metal: 111000Contained Unit: tView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- lithium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:9363a4c7678ca5e92164
- Deposit or zone
- Total MRE
Resource Data
- Category
- inferred
- Tonnes
- 12800000
- Grade
- 0.87
- Grade Unit
- % Li2O
- Contained Metal
- 111000
- Contained Unit
- t
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
- Prior Tonnes
- 8300000
- Prior Grade
- 1
- Prior Contained Metal
- 83000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total MRE shows a substantial increase in tonnage and contained lithium, despite a decrease in overall grade, indicating significant growth for the project.
Positive factors
- Total tonnage increased by 54.2% from prior estimate.
- Total contained metal increased by 33.7% from prior estimate.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Overall grade decreased by 13% from prior estimate.
- Resource remains in the Inferred category.
Evidence · table
“0.87”
Context: 12.8
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
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 12800000 against 8300000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 0.87 against 1 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 111000 against 83000 previously
inferredLake Johnston Lithium Project · tantalumTonnes: 12800000Grade: 112Grade Unit: ppm Ta2O5View all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- tantalum
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:9363a4c7678ca5e92164
- Deposit or zone
- Total MRE
Resource Data
- Category
- inferred
- Tonnes
- 12800000
- Grade
- 112
- Grade Unit
- ppm Ta2O5
- Cutoff Grade
- 65
- Cutoff Unit
- ppm Ta2O5
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The overall MRE now includes a significant tantalum component, adding to the polymetallic potential of the project.
Positive factors
- New tantalum MRE lodes confirmed, contributing to the overall resource.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“112”
Context: 12.8
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
inferredLake Johnston Lithium Project · rubidiumTonnes: 12800000Grade: 0.12Grade Unit: % Rb2OView all detailsHide details
Identity
- Project
- Lake Johnston Lithium Project
- Commodity
- rubidium
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Shaun Searle
- Resource group id
- resource:9363a4c7678ca5e92164
- Deposit or zone
- Total MRE
Resource Data
- Category
- inferred
- Tonnes
- 12800000
- Grade
- 0.12
- Grade Unit
- % Rb2O
- Cutoff Grade
- 0.4
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The overall MRE now includes a rubidium component, potentially offering byproduct value.
Positive factors
- Rubidium grades are reported, indicating potential byproduct credits.
- JORC 2012 compliant estimate signed off by a Competent Person.
Negative factors
- Resource remains in the Inferred category.
Evidence · table
“0.12”
Context: 12.8
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
inferredBynoe Lithium ProjectView all detailsHide details
Identity
- Project
- Bynoe Lithium Project
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CHR
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ab93272f5c21d8e86e71
Resource Data
- Category
- inferred
Prior Estimate
- Resource Date
- 2026-07-17
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The sale of the Bynoe Lithium Project provides substantial immediate and potential future funding, significantly strengthening the company's financial position and enabling focus on the Lake Johnston project.
Positive factors
- Secured significant cash consideration of $3.75 million.
- Potential for additional $1 million milestone payment based on future resource definition.
- Potential for 1% gross revenue royalty capped at $10 million, providing long-term upside.
- Sale proceeds provide funding for further drilling and studies at the Lake Johnston Lithium Project.
Negative factors
- Disposal of 100% interest in a lithium project.
Evidence · text
“On 19 June 2026 the Company entered into a binding Sale and Purchase Agreement to sell its 100% interest in the Bynoe Lithium Project (EL30897, Northern Territory) to Core Lithium Limited’s (ASX: CXO; “Core”) 100% owned subsidiary Bynoe Lithium Pty Ltd for consideration comprising: (a) $3,750,000 cash; (b) $1,000,000 payable within 10 business days of an Inferred Mineral Resource Estimate of at least 8 million tonnes of Li2O at a minimum grade of 1.0% being delineated on and attributable to the area covered by EL 30897; and (c) the grant to Charger of a 1% gross revenue royalty payable in respect of revenue received from lithium product which is generated from the area of EL30897, capped at $10,000,000. Completion of the Sale was subject to, and conditional on, Charger receiving notice from the Minister under section 123(4) of the Mineral Titles Act 2010 (NT) allowing transfer of the Tenement to the Buyer (the “Condition Precedent”). The Sale became unconditional on 13 July 2026 and was completed on 17 July 2026.”
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 Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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.