Highlights

  • Hamelin Gold shares were trading at A$0.155 on 9 November 2026, up about 118% over the past year.
  • Phase 1 drilling at Day Dawn returned 3 metres at 93.4 g/t gold from the Aurora Upper Lode.
  • A Placement of about A$8 million at A$0.16 per share lifted cash to roughly A$9 million.
  • Phase 2 Reverse Circulation Drilling has finished, and diamond drilling is scheduled to begin in October 2026.

Hamelin Gold Limited (ASX:HMG) was trading at A$0.155 on 9 November 2026, giving the Perth-based explorer a Market Capitalisation of about A$38.73 million. The shares are still up roughly 118% over twelve months, a period in which the company shifted attention to its Day Dawn Gold Project in the Paterson Province of Western Australia, near the Telfer district. Its September 2026 Quarterly Report combined exploration progress with a refreshed balance sheet.

High-Grade Results From Day Dawn

Phase 1 reverse circulation drilling at Day Dawn identified multiple high-grade lodes at Aurora and new reef-style mineralisation at Altus. At the Aurora Upper Lode, hole PDR0001 intersected 3 metres at 93.4 g/t gold from 9 metres, including 2 metres at 128.9 g/t. Hole PDR0012 returned 4 metres at 21.0 g/t from 27 metres, including 1 metre at 76.4 g/t.

Lower Lode intercepts included 2 metres at 12.4 g/t gold from 149 metres in hole PDR0028. At Altus, hole PDR0005 returned 2 metres at 7.0 g/t gold from 45 metres and 1 metre at 21.5 g/t from 24 metres.

Funding Strengthened by Placement

On 17 August 2026 the company announced a placement of about A$8 million before costs at A$0.16 per share, supported by major shareholders Gold Fields Limited and Vault Minerals Limited. The first Tranche issued 49,575,892 shares, and directors committed to subscribe for a further 2,005,709 shares on the same terms.

Cash at 30 September 2026 was about A$9.0 million, compared with A$2.5 million at the start of the quarter. Exploration spending for the quarter was about A$863,000, mostly at Day Dawn, and the company estimated roughly 8.3 quarters of funding at current outgoings.

Phase 2 and Diamond Drilling Under Way

Phase 2 reverse circulation drilling was completed across 35 holes for about 4,000 metres, expanded from the earlier plan of about 3,000 metres. More than 4,000 samples were submitted for assay, with results expected in October 2026.

Diamond drilling was scheduled to start in October 2026, including tails on reverse circulation pre-collars and core holes through the upper Aurora and Altus lodes. A co-funded Exploration Incentive Scheme grant of up to A$180,000 supports testing of a Telfer-style model at depth.

Venus and West Tanami Pipelines

At the Venus Project in the Yilgarn, heritage clearance has been granted and an initial program of about 130 aircore holes is planned for early 2027 across the Veritas, Mariner and Davinci prospects.

In the West Tanami, the company controls about 100 kilometres of strike along the Trans-Tanami gold corridor. Next drilling is aimed at granitoid-hosted gold at Jazz and high-grade shoots at Fremlins South, building on earlier results reported in 2025.

Future Outlook

Near-term catalysts are the Phase 2 assay results and the start of diamond drilling at Day Dawn. Timelines for drilling are forward-looking and subject to change, and metallurgical test work remains preliminary. As an explorer, Hamelin Gold has no operating revenue, and outcomes depend on drilling success and continued access to funding.