QXR: Annual Report to shareholders
Original announcement by asx on
- Company
- QX Resources Limited
- Ticker
- QXR
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Uranium
- Secondary commodities
- Gold, Copper, Molybdenum, Lithium
- Document categories
- Drill results, Resource update, Other
- Extracted
- 2026-09-30 09:12:01 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
QX Resources Limited's annual report highlights a JORC Exploration Target of 20-30 Mt grading 400-500 ppm eU3O8 for its Madaba Uranium Project in Tanzania, based on historical data and supported by high-grade drill results. The company also reported increased cash reserves and net assets. However, the report notes material uncertainties regarding going concern and the carrying value of investments, and no on-ground exploration was conducted on its gold, copper-gold-molybdenum, and lithium projects during the year.
Reasoning: QX Resources Limited's annual report highlights a JORC Exploration Target for its Madaba Uranium Project, supported by historical high-grade drill results and a planned geophysical survey, which is positive for future potential. However, the target is conceptual, and the company faces going concern uncertainties, reported a net loss, and conducted no on-ground exploration on other projects.
Positive factors
- JORC Exploration Target announced
- Historical high-grade uranium drill results re-reported
- Increased cash reserves and net assets
- Geophysical survey planned/contracted
- QP/CP sign-off for exploration results and targets
Negative factors
- Material uncertainty regarding going concern
- Material uncertainty regarding carrying value of investments in associates
- Exploration Target is conceptual in nature
- Historical drill results are re-reported, not new assays
- No on-ground exploration for gold, copper-gold-molybdenum, and lithium projects during the year
- Significant net loss for the year
Facts used in scoring: 17
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The company announced a JORC Code (2012) compliant Exploration Target for the Madaba Uranium Project.
Evidence · text
“On 19 August 2026, the Company announced a JORC Code (2012) compliant Exploration Target”
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 report includes a Competent Persons Statement signed by Mr. Roger Jackson (FAusIMM) for Exploration Results and Exploration Targets, and Mr George van der Walt Pr.Sci.Nat. for the Exploration Target and geological interpretation.
Evidence · text
“The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Mr. Roger Jackson, a Director and Shareholder of the Company, who is a 25+ year Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM)”
Exploration Target is conceptualnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource.
Evidence · text
“The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.”
Material Uncertainty (Going Concern)negative · Story-specific tag
No canonical definition is currently available.
Why it applies: The auditor's report highlights a material uncertainty regarding Going Concern, as the company is dependent on future equity raising to fund working capital and discharge liabilities.
Evidence · text
“We draw attention to Note 1 “Going Concern’ of the financial report, which indicates that the Company is dependent upon future equity raising in order to fund its working capital and discharge its liabilities in the ordinary course of business.”
Material Uncertainty (Investments)negative · Story-specific tag
No canonical definition is currently available.
Why it applies: The auditor's report highlights a material uncertainty related to the carrying value of interests in associates, as their underlying assets are exploration tenements not yet commercialized.
Evidence · text
“We also draw attention to Note 18 to the financial report which indicates that a material uncertainty exists in relation to the Company’s ability to realise the carrying value of its interests in associates.”
No On-Ground Explorationnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: No on-ground exploration was undertaken at the Queensland Gold, Copper-Gold-Molybdenum, and Pilbara Hard Rock Lithium projects during the year.
Evidence · text
“No ground exploration was undertaken at the projects during the year.”
Extracted facts
Stored fact records: 17. Some facts used in scoring do not have a stored record.
Drill Results (9)
P15Madaba Uranium · uraniumGrade: 612Grade Unit: ppm U3O8Intercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P15
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 612
- Grade Unit
- ppm U3O8
- Intercept
- 15 m
- From
- 4 m
- To
- 19 m
- Intercept Depth
- 4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P15:4-19
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project, indicating significant mineralization.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“15m @ 612 ppm U3O8 from 4m incl. 3m @ 2,465 ppm U3O8 from 10m (P15)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P15Madaba Uranium · uraniumGrade: 2465Grade Unit: ppm U3O8Intercept: 3 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P15
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 2465
- Grade Unit
- ppm U3O8
- Intercept
- 3 m
- From
- 10 m
- To
- 13 m
- Intercept Depth
- 10 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P15:10-13
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Exceptionally high-grade historical uranium sub-interval from the Madaba project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“3m @ 2,465 ppm U3O8 from 10m (P15)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P16Madaba Uranium · uraniumGrade: 337Grade Unit: ppm U3O8Intercept: 16 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P16
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 337
- Grade Unit
- ppm U3O8
- Intercept
- 16 m
- From
- 4 m
- To
- 20 m
- Intercept Depth
- 4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P16:4-20
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“16m @ 337 ppm U3O8 from 4m incl. 4m @1,082 ppm U3O8 from 8m (P16)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P16Madaba Uranium · uraniumGrade: 1082Grade Unit: ppm U3O8Intercept: 4 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P16
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 1082
- Grade Unit
- ppm U3O8
- Intercept
- 4 m
- From
- 8 m
- To
- 12 m
- Intercept Depth
- 8 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P16:8-12
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Very high-grade historical uranium sub-interval from the Madaba project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“4m @1082 ppm U3O8 from 8m (P16)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P17Madaba Uranium · uraniumGrade: 693Grade Unit: ppm U3O8Intercept: 7 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P17
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 693
- Grade Unit
- ppm U3O8
- Intercept
- 7 m
- From
- 9 m
- To
- 16 m
- Intercept Depth
- 9 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P17:9-16
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“7m @ 693 ppm U3O8 from 9m (P17)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
D12Madaba Uranium · uraniumGrade: 510Grade Unit: ppm eU3O8Intercept: 7 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- D12
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 510
- Grade Unit
- ppm eU3O8
- Intercept
- 7 m
- From
- 136.5 m
- To
- 143.5 m
- Intercept Depth
- 136.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- D12:136.5-143.5
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“7m @ 510 ppm eU3O8 from 136.5m (D12)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
D8Madaba Uranium · uraniumGrade: 675Grade Unit: ppm eU3O8Intercept: 9.6 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- D8
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 675
- Grade Unit
- ppm eU3O8
- Intercept
- 9.6 m
- From
- 74 m
- To
- 83.6 m
- Intercept Depth
- 74 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- D8:74-83.6
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“9.6m @ 675 ppm eU3O8 from 74m (D8)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P104Madaba Uranium · uraniumGrade: 890Grade Unit: ppm U3O8Intercept: 7 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P104
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 890
- Grade Unit
- ppm U3O8
- Intercept
- 7 m
- From
- 30 m
- To
- 37 m
- Intercept Depth
- 30 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P104:30-37
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“7m @ 890 ppm U3O8 from 30m (P104)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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
P103Madaba Uranium · uraniumGrade: 420Grade Unit: ppm eU3O8Intercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- P103
- Project
- Madaba Uranium
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- tanzania
- Ticker
- QXR
Geometry
- Grade
- 420
- Grade Unit
- ppm eU3O8
- Intercept
- 15 m
- From
- 47 m
- To
- 62 m
- Intercept Depth
- 47 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- P103:47-62
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Deleterious
- Deleterious Flag
- No
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2025-08-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade uranium intercept from the Madaba project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“15m @ 420 ppm eU3O8 from 47m (P103)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not 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 (8)
inferredMadaba Uranium Project · uraniumTonnes: 20000000Grade: 400Grade Unit: ppm eU3O8Contained Metal: 18000000Contained Unit: lb u3o8View all detailsHide details
Identity
- Project
- Madaba Uranium Project
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- Tanzania
- Ticker
- QXR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr George van der Walt Pr.Sci.Nat.
- Resource group id
- resource:dedf3a9b5b65de2406a9
Resource Data
- Category
- inferred
- Tonnes
- 20000000
- Grade
- 400
- Grade Unit
- ppm eU3O8
- Contained Metal
- 18000000
- Contained Unit
- lb u3o8
Prior Estimate
- Resource Date
- 2026-08-19
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A JORC compliant Exploration Target has been announced for the Madaba Uranium Project, providing a significant conceptual estimate of potential mineralization.
Positive factors
- JORC compliant
- QP/CP Signed
- Contained Metal Growth
Negative factors
- Exploration Target is conceptual
Evidence · text
“On 19 August 2026, the Company announced a JORC Code (2012) compliant Exploration Target, based on historic information, of 20 – 30 Mt grading 400 – 500 ppm eU₃O₈ (containing approximately 18 – 33 Mlb U₃O₈) for the 100%-owned Madaba Uranium Project.”
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
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
inferredMadaba Uranium Project · uraniumTonnes: 30000000Grade: 500Grade Unit: ppm eU3O8Contained Metal: 33000000Contained Unit: lb u3o8View all detailsHide details
Identity
- Project
- Madaba Uranium Project
- Commodity
- uranium
- Region
- tanzania
- Reported Region
- Tanzania
- Ticker
- QXR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr George van der Walt Pr.Sci.Nat.
- Resource group id
- resource:5afda8e77d24e25f7822
Resource Data
- Category
- inferred
- Tonnes
- 30000000
- Grade
- 500
- Grade Unit
- ppm eU3O8
- Contained Metal
- 33000000
- Contained Unit
- lb u3o8
Prior Estimate
- Resource Date
- 2026-08-19
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The upper bound of the JORC compliant Exploration Target for the Madaba Uranium Project indicates significant potential mineralization.
Positive factors
- JORC compliant
- QP/CP Signed
- Contained Metal Growth
Negative factors
- Exploration Target is conceptual
Evidence · text
“On 19 August 2026, the Company announced a JORC Code (2012) compliant Exploration Target, based on historic information, of 20 – 30 Mt grading 400 – 500 ppm eU₃O₈ (containing approximately 18 – 33 Mlb U₃O₈) for the 100%-owned Madaba Uranium Project.”
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
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
Fact 3Big Red Project · goldGrade: 5.9Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 5.9
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical high-grade gold trench result from the Big Red Project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Trench 1 - 9m @ 5.9 g/t Au within a mineralised zone 35m wide.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
Fact 4Big Red Project · goldGrade: 1.2Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 1.2
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical wide gold trench result from the Big Red Project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Large zone 80m @1.2 g/t Au”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
Fact 5Big Red Project · goldGrade: 2.2Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 2.2
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical moderate-grade gold trench result from the Big Red Project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Trench 2- 3m @ 2.2 g/t Au within a mineralised zone 13m wide.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
Fact 6Big Red Project · goldGrade: 1.8Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 1.8
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical wide gold trench result from the Big Red Project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Large zone 28m @ 1.8 g/t Au”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
Fact 7Big Red Project · goldGrade: 23Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 23
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Exceptionally high-grade historical gold trench result from the Big Red Project.
Positive factors
- Bonanza Intercept
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Trench 4 - 2m @ 23 g/t Au with a mineralised zone 7m wide.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
Fact 8Big Red Project · goldGrade: 1.7Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Big Red Project
- Commodity
- gold
- Region
- australia_qld
- Reported Region
- Queensland
- Ticker
- QXR
Resource scope
- QP Signed
- Yes
- Resource group id
- resource:3983dfc298519eb976b8
Resource Data
- Grade
- 1.7
- Grade Unit
- g/t
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2021-11-01T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Historical wide gold trench result from the Big Red Project.
Negative factors
- Stale Data Re-release
- Cut-off Undisclosed
Evidence · text
“Large zone 32m @ 1.7 g/t Au”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 4.9 years before this release
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.