AuKing Mining Halls Creek Scoping Study Reports A$317m Pre-Tax NPV for Copper-Zinc-Silver Project

Aditi Sarkar

11 November 2026 12:32 PM AEDT

AuKing Mining Halls Creek Scoping Study Reports A$317m Pre-Tax NPV for Copper-Zinc-Silver Project

Image Source: Krish Capital Pty Ltd

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AuKing Mining Limited (ASX:AKN) has disclosed results from an updated Scoping Study for the Halls Creek Project in Western Australia, released by joint venture partner Cobalt Blue Holdings Limited (ASX:COB), outlining staged development of the Onedin and Sandiego deposits to produce copper cathode, zinc oxide and silver doré, with a pre-tax NPV₁₀ of approximately A$317 million on a 100% project basis.

Key Points

Updated Scoping Study reports a pre-tax NPV₁₀ of approximately A$317 million and a pre-tax IRR of approximately 47% on a 100% project basis
Initial capital estimated at A$75 million with payback of approximately three years from first production
Average annual production estimated at approximately 4,000 tonnes copper cathode, 13,000 tonnes contained zinc as zinc oxide, and 130,000 oz silver doré over an estimated 11 years
Joint venture partner CBH has exercised its right to increase its interest from 51% to 75% by sole funding a further A$1.5 million on the Halls Creek tenements by 30 June 2028
A Pre-Feasibility Study is targeted for completion in H1 2028

Updated Scoping Study Findings for Halls Creek Project

The updated Scoping Study, released by Cobalt Blue Holdings on 10 November 2026, updates a previous Scoping Study announced on 6 June 2025. The Study outlines staged development of the Onedin and Sandiego deposits using a common processing plant at Onedin. Initial cash flow from processing Onedin material is intended to fund the subsequent development of Sandiego, according to the filing. The Study estimates life-of-mine free cash flow of approximately A$681 million pre-tax. The filing states the Study incorporates silver recovery for the first time, establishing a third revenue stream from metal contained within both deposits.

Capital Structure and Production Details

Initial capital for the Halls Creek Project is estimated at A$75 million, with a payback period of approximately three years from first production, according to the filing. The common processing plant is described as capable of producing three saleable metals, replacing the previously proposed Sandiego flotation concentrator. Average annual production is estimated at approximately 4,000 tonnes of copper cathode, 13,000 tonnes of contained zinc as zinc oxide, and 130,000 ounces of silver doré across an estimated 11-year production life. The filing also notes the common plant provides a platform to incorporate additional regional feedstock.

Joint Venture Interest and Next Steps

Cobalt Blue Holdings currently holds a 51% interest in the Halls Creek Project, with AuKing Mining holding the remaining 49%. According to the filing, CBH has exercised its right to increase its interest to 75% by sole funding a further A$1.5 million on the Halls Creek tenements by 30 June 2028. The next step disclosed in the filing is advancement of the project through a Pre-Feasibility Study, targeting completion in H1 2028. AuKing confirmed it is not aware of any new information or data that materially affects the information included in CBH's market announcement of 10 November 2026.

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