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Coda Minerals Ltd ( (AU:COD) ) has provided an update.
Coda Minerals reported strong progress on its Elizabeth Creek copper-silver project during the March 2026 quarter, completing a major Pre-Feasibility Study drilling program of 19 holes for 6,352m across open pit and underground areas. All core has been processed and sent for assay, geotechnical work to support a maiden Ore Reserve is underway, and an updated Mineral Resource Estimate is scheduled for completion in the June quarter.
The company also accelerated environmental and approvals work, including airborne surveys and hydrogeological planning, with hydrogeological drilling due to start in early June to inform mine planning and water strategy. Coda highlighted robust updated project economics, with a substantial post-tax NPV and IRR indicating strong leverage to copper and silver prices, supported by a $9.01 million cash balance to fund ongoing PFS and exploration activities.
Near-term catalysts flagged for investors include updated drilling assays, the revised Mineral Resource Estimate, metallurgical test results through the June and September quarters, and new shallow exploration drilling at the nearby Oakden area. Management said the breadth of simultaneous workstreams underscores that Elizabeth Creek is moving through critical development stages and consolidating its position as a significant emerging Australian copper development opportunity.
More about Coda Minerals Ltd
Coda Minerals Ltd is an Australian exploration and development company focused on the Elizabeth Creek copper-silver project in South Australia. The company is advancing this large-scale asset through resource definition, metallurgical testing and feasibility studies, targeting development in a premier global mining jurisdiction.
Average Trading Volume: 577,311
Technical Sentiment Signal: Sell
Current Market Cap: A$54.26M
See more insights into COD stock on TipRanks’ Stock Analysis page.