Mila doubles Kathleen Valley gold resource

Mila Resources caught the market's attention after unveiling a substantially upgraded JORC resource at the Coffey Gold Deposit in Western Australia. The updated estimate now stands at 41,300 ounces of gold grading 2.1g/t, representing a near doubling of the previous 21,000-ounce resource announced in 2020.

The upgrade follows drilling across 44 holes and further confirms Coffey as a potentially significant gold system within the highly prospective Wiluna-Norseman Belt. Management also highlighted additional exploration upside from the untested Sturrock and Powell prospects and noted the presence of lithium-bearing pegmatites across the broader project area.

Resource growth of this magnitude from this drilling campaign suggests the deposit remains underexplored, while the combination of gold, lithium and base-metal potential broadens the project's strategic appeal.

Rockhopper unlocks a further $788m of value at Sea Lion

Rockhopper Exploration delivered one of the day's most impactful announcements after a new independent reserves evaluation significantly increased the value attributed to its flagship Sea Lion development in the North Falkland Basin. The updated report indicates an approximately US$788 million increase in the 2P + 2C net present value of Rockhopper's 35% interest.

The uplift reflects increased resource volumes, revised oil price assumptions and the accelerated development plan for the Central Development Area. Rockhopper's share of 2P reserves now totals almost 110 million barrels, carrying an NPV10 valuation of roughly US$1.18 billion.

Applied Nutrition delivers another beat-and-raise update

Applied Nutrition continued its strong growth trajectory with a FY26 trading update that came in ahead of both market expectations and previous guidance. Revenue is expected to reach £160 million, up 50% year-on-year, while adjusted EBITDA is forecast at £43.3 million, an increase of 40%. The group also closed the year with £15.9 million of net cash despite acquisition and expansion activity.

Management's confidence extends into FY27, with guidance for approximately £205 million of revenue and £49 million of adjusted EBITDA, both ahead of current market consensus.