Key Highlights

  • Cauldron hosted senior representatives of Navoiyuran and the Uzbekistan Ministry of Mining Industry and Geology at its Yanrey Project, a step the company described as technical due diligence.
  • The CY26 drill program at Yanrey totalled 10,506 metres across 100 holes over 76 days, according to the company.
  • The parties are working towards more formal and binding documentation under a memorandum of understanding signed in September 2025.

Cauldron Energy shares closed at $0.058 on 27 October 2026, up 11.54% for the session. The broader market finished higher, with the ASX 200 closing at 8,850.1, a gain of 0.46%, and the energy sector index ending at 11,074.7, up 0.63%. Separately, Brent crude oil eased 0.60% to USD 115.15 as diplomatic efforts over the U.S.-Israeli war with Iran reduced escalation concerns. Cauldron Energy Limited (ASX:CXU) is an ASX-listed, uranium-focused company that owns 100% of the Yanrey Uranium Project, which covers about 1,493 square kilometres roughly 100 kilometres south of Onslow.

Latest Development: Navoiyuran and MINGEO Visit the Yanrey Project

In its announcement of 6 October 2026, Cauldron said it had welcomed senior representatives of Navoiyuran and the Uzbekistan Ministry of Mining Industry and Geology (MINGEO) to Australia and to the Yanrey site over the preceding weekend. The company described Navoiyuran as Uzbekistan's national uranium company, with more than 30 years of experience in in-situ recovery (ISR) uranium mining.

According to the release, the visit follows a trip by Cauldron to Uzbekistan in March and April 2026. The company said the Yanrey visit is aimed at furthering the relationship between the parties and represents a technical due diligence step as the two sides work towards executing more formal and binding documentation. At the site, the visitors inspected drill cuttings from the current program, drill core and a granite outcrop that the company identified as the source of the uranium mineralisation in the Yanrey palaeochannels.

Latest Development: Memorandum of Understanding Background

Cauldron stated that, when it entered into the memorandum of understanding in September 2025, the document envisaged the execution of more formal and binding agreements once further work had been completed. The company said this covers technical assistance, the operating model and funding, and described the current visit as evidence that this work is in train.

The release added that the three parties headed to Adelaide, where each was to address the Global Uranium Conference, before travelling together to Canberra.

Latest Development: CY26 Drill Program Completed

The company said the visit coincided with completion of its CY26 drill program at Yanrey, detailed in a separate announcement of the same date. The program comprised 10,506 metres across 100 holes over a period of 76 days.

Cauldron stated that it considers the program to have been a significant success. It listed the following key achievements:

  • Demonstration of a link between Paladin's Manyingee Deposit and Cauldron's Manyingee North Deposit
  • Extension of the Manyingee North Deposit by about 2,500 metres to the north and about 550 metres to the south, onto the recently acquired tenement E09/2896, which the company said quadruples the strike length of the deposit
  • Extension of the Manyingee South Deposit by about 2,500 metres upstream to the southeast, beyond the limits of the 2026 resource polygon

Comments From the Chief Executive

Cauldron chief executive Jonathan Fisher said he was pleased to host the Navoiyuran and MINGEO representatives and that the relationship was important to building a long-lasting arrangement.

Mr Fisher said the visit let the guests view the scale of the Yanrey Project, including geology, outcrop, cuttings and drill core. He added that discussions with government in Canberra would cover practicalities around potential future investment.

Risks and Catalysts on Watch

Matters identified in the announcement:

  • The company has stated that no guarantee can be given that the discussions with Navoiyuran and MINGEO will progress to binding agreements
  • Formal and binding documentation covering technical assistance, the operating model and funding is yet to be executed
  • The group planned to meet government in Canberra to discuss potential future investment
  • The company cautioned that forward-looking statements involve risks and uncertainties, many outside its control

In Summary

Cauldron's 6 October 2026 update reports a site visit by Navoiyuran and MINGEO, a completed 100-hole drill program and continued work towards binding documentation.