Minerals 260 (ASX: MI6) has had a stunning ten months since acquiring the Bullabulling Gold Project in Western Australia. The stock has soared on the back of its exploration success and its recent funding deal.

Luke McFadyen is Managing Director of Minerals 260. He is a mining industry executive with more than 15 years’ experience across several commodities including copper, nickel, gold, graphite, aluminium and iron ore, and has worked in multiple jurisdictions including Australia, Singapore, Brazil and Mozambique. He is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and holds a Master of Science (Mineral and Energy Economics) and MBA from Curtin University, as well as a Bachelor of Commerce (Economics) and Bachelor of Science from the University of Notre Dame Australia. Mr McFadyen has previously worked at OZ Minerals, Syrah Resources, South32, BHP, KPMG and Deloitte.

Produced by Resource Media

The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

Rapid Resource Growth at Bullabulling Minerals 260 has rapidly expanded the Bullabulling Gold Project to a resource of approximately 4.5 million ounces, including around 3 million ounces in the indicated category. Located just 45 minutes from Kalgoorlie in Western Australia, the project has quickly emerged as one of the more significant undeveloped gold assets on the ASX.

A Transformational Acquisition The company acquired Bullabulling for around $166 million, and in less than a year the market has re-rated the company dramatically as exploration success and development progress have strengthened the investment case. This rapid value creation reflects both the scale of the asset and strong investor demand for large gold development projects.

Franco-Nevada Deal Provides Validation and Funding Minerals 260 secured a $120 million royalty funding package with Franco-Nevada, one of the world’s largest precious metals royalty companies. The deal followed extensive technical due diligence and provides development capital while reducing near-term dilution, representing a major validation event for the project.

Large-Scale Open Pit Development Potential Current planning outlines a potential 4–5km long open pit, approximately 600 metres wide and 300 metres deep, positioning Bullabulling as one of Australia’s largest future gold pits. Ongoing drilling is focused on improving project economics by targeting shallower and higher-grade mineralisation.

Fast-Tracked Path to Development Minerals 260 is progressing rapidly toward development, with reserve work, resource updates and feasibility studies advancing through 2026. Early site infrastructure work — including accommodation and water infrastructure — is already underway ahead of a final investment decision, reflecting strong confidence in the project’s economics and the supportive gold macro environment.

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PolarX has unveiled a gold discovery at its Humboldt Range project in Nevada. The question is how big it is defined. The company is now planning more drilling to see how far it extends, raising the possibility that the company could sell the project entirely to one of its big neighbours nearby.

Guest: Mark Bojanjac Company: PolarX

Mark Bojanjac is Managing Director of PolarX Limited. He is a geologist with more than 30 years’ experience in the exploration and mining industry. Mr Bojanjac has held senior executive and board positions with several ASX-listed resource companies and has been directly involved in exploration, project acquisition, development strategy and capital markets transactions across multiple jurisdictions. His experience spans gold, copper and base metals projects, with a focus on advancing assets from discovery through to development and potential monetisation.

Produced by Resource Media

The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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PolarX’s Humboldt Range project in Nevada has delivered gold in every hole drilled across an initial 800-metre section of a 3.8-kilometre-long IP and soil anomaly. Importantly, the area drilled was not selectively targeted but accessed via existing tracks, suggesting significant blue-sky potential across the broader 4km strike extent. The scale of the anomaly positions the project as a potentially material new gold system in a proven mining district.

The project is surrounded by long-life, multi-million-ounce gold operations, including Florida Canyon and the Rochester expansion. With comparable host geology and open-pit cut-off grades around 0.13 g/t Au in the district, even moderate grades at Humboldt could be economically meaningful. Proximity to infrastructure and processing capacity enhances optionality, including potential corporate interest.

Management notes geological similarities to nearby operations in the Rochester-style host rocks, with head grades in the district averaging approximately 0.45 g/t Au. PolarX believes its discovery could deliver higher grades, though drilling remains at an early stage. The geological setting supports the thesis that Humboldt Range may represent a scalable, heap-leach style gold system.

Northern Star Resources holds approximately 14% of PolarX and is earning into the Alaska Range Project under a five-year farm-in agreement. Year one drilling has been completed, with US$2 million remaining in the joint venture budget and US$6 million scheduled to be contributed at the end of March. Technical collaboration, including comprehensive historical core logging, reflects a systematic approach to unlocking value at Caribou Dome and across the broader Alaska Range tenure.

PolarX is planning at least 10,000 metres of drilling in Nevada and a further 10,000 metres in Alaska during the upcoming field season. With approximately US$8 million (~A$12 million) available across programmes, the company is well-funded to accelerate discovery definition and resource potential. The scale of planned activity signals a transformational period over the next 12 months