Evolution Mining has become Carnaby Resources’ largest shareholder with a 13.7 per cent stake after acquiring the QIC Queensland Critical Minerals Fund’s ~37.9 million Carnaby shares as part of its proposed $213 million takeover. Evolution also issued about 2.6 million new shares to QIC, signalling continued use of scrip-based structures in Australian mid-tier M&A. For copper–gold project developers, the move points to stronger strategic interest from established producers in advanced exploration portfolios rather than greenfield assets.

Develop Global’s latest underground drilling at the Woodlawn copper–zinc mine in New South Wales has returned intercepts grading up to 15.7 per cent copper equivalent (CuEq), supporting its Project DM15 plan to extend mine life from 10 to 15 years. The high-grade results, from step-out holes targeting depth extensions of existing lenses, suggest additional sulphide resources beyond the current reserve envelope. For mine planners and geotechs, this points to a longer stoping schedule, potential redesign of sequencing and backfill, and extended use of existing underground infrastructure.

Forrestania Resources has awarded MEGA Resources a ~$145 million contract for a two-year open-pit mining campaign at the Johnson Range gold project in Western Australia. The scope covers end-to-end pit development, including production drilling and blasting, ore and waste haulage, and construction of haul roads and associated mining infrastructure. Contractors and suppliers can expect near-term demand for drill-and-blast services, mobile fleet, and road construction materials, with geotechnical design and pit slope performance critical over the compressed two-year schedule.