Key Highlights

  • Orbit Resources shares were trading at $0.014 during the 13 November 2026 session, up 27.27%.
  • Stage 2 diamond drilling has started at the Goodrich Porphyry Prospect, with a four-hole program of about 1,000 metres planned.
  • Great Plains Metals is funding the program as part of an earn-in that could lift its interest to 70%, while Orbit keeps 49%.

During the Trading session on 13 November 2026, Orbit Resources Ltd (ASX:OBT) shares were trading at $0.014, up 27.27%, while the S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT. Orbit is an Australian explorer holding a 49% operating interest in the Yeoval and Goodrich copper-gold project area in New South Wales. The company's most recent update, dated 11 November 2026, confirmed that the second stage of diamond drilling has commenced at the Goodrich Porphyry Prospect, about 70 kilometres northwest of Orange.

Second stage drilling at Goodrich

The Stage 2 program is planned at about 1,000 metres across four holes. The first hole, GRMDD001, is in progress and is designed to test the extension of a shallow zone of higher-grade gold and copper. The drilling builds on the Stage 1 Pencil Porphyry discovery, where earlier hole GGDD004 returned 136.55 metres at 0.32% copper, 0.16 grams per tonne gold and 43 grams per tonne molybdenum from 81.45 metres, including 3.55 metres at 2.80% copper. The holes are also intended to test continuity with historical copper-gold intercepts linked to the Goodrich open pit.

Funding and earn-in structure

The program is fully funded by Great Plains Metals Corp (TSX-V: GPS) under an earn-in agreement with Orbit. Great Plains has already satisfied the initial earn-in conditions and holds 51% of the Yeoval and Goodrich projects. It has elected to proceed to the next phase, which targets a 70% participating interest through at least A$1 million in additional exploration spending, including at least 500 metres of drilling, over the following 12 months. Orbit keeps its 49% interest and does not contribute to exploration expenditure during the earn-in period.

Sector context

Porphyry copper-gold systems have attracted growing exploration interest across New South Wales, and the Yeoval project area covers about 290 square kilometres. Companies working in this style of deposit typically rely on drill intercepts, geological interpretation and partner funding to advance projects. Share prices of explorers at this level can move quickly on small volumes, particularly when drilling programs begin or results are expected.

Risks investors are watching

Exploration outcomes remain uncertain, and the current holes may not extend the mineralised zone as modelled. Orbit's exposure to the project depends on its partner completing the earn-in, and its interest could be diluted if it does not contribute to later expenditure. Commodity prices for copper, gold and molybdenum also influence the Economics of any future development. The share price, at about 1.4 cents, sits in a range where moves can be sharp in both directions.

What to watch ahead

Assay results from the Stage 2 holes will be the next key data points, along with confirmation of when the four-hole program is completed. Investors will also be watching whether Great Plains meets the A$1 million expenditure and 500-metre drilling thresholds within the 12-month period, as this would determine whether its interest moves to 70%.

Final Word

Orbit's latest update shows drilling moving ahead at Goodrich while the project's partner carries the cost of the current program. Results from the coming holes will shape how the copper-gold system is interpreted and what comes next for the joint project.