Key highlights

  • Greenvale Energy shares were down 9.09% at $0.020 during the 10 November 2026 trading session.
  • A tenement-wide airborne electromagnetic survey of about 950 line-kilometres is under way at Thunderball.
  • Northern Territory Government co-funding has been secured for the program.

Greenvale Energy Ltd (ASX:GRV) recorded a fall of 9.09% to $0.020 during the 10 November 2026 trading session. The S&P/ASX 200 was higher by 1.34%, or 121.20 points, at 9,150.90 over the same session. Greenvale is a uranium explorer with its Thunderball Uranium Project in the Northern Territory. Its latest update was released on 3 November 2026 and announced the start of a new airborne survey across Exploration Licence 34157.

Airborne electromagnetic survey

The company has commenced a tenement-wide, high-resolution airborne electromagnetic survey across Exploration Licence 34157, part of the broader Thunderball project. Around 950 line-kilometres will be flown using the SkyTEM system, infilling existing electromagnetic data.

Greenvale said the survey will give significantly enhanced resolution on potential paleochannels, reductant minerals and deeper structural systems. All field work is scheduled for completion in the first half of November, with results expected in late December 2026 or early January 2027.

Funding and future drilling

The Northern Territory Government is co-funding the program through its Round 19 Geophysics and Drilling Collaboration Grant scheme. The company said the survey results will be used to design future drilling, which it expects to complete in the 2027 field season.

Permitting and regulatory approvals for the future drilling are under way.

Sector context

Uranium exploration remains sensitive to changes in the outlook for nuclear energy and to the funding available to juniors. Investors often wait for geophysical and drilling results before reassessing projects at the exploration stage. Greenvale's shares trade at two cents, and the broader market was higher during the session.

Risks

Airborne survey results are interpretive and need to be confirmed by drilling, which is not expected until the 2027 field season. Permitting delays could push that timeline back.

Exploration in the Northern Territory carries the usual risks of target identification and the outcome of any future drilling program.

What to watch ahead

The key date is the release of survey results, expected in late December 2026 or early January 2027. Investors will also be watching for permitting progress and the design of the 2027 drilling program.

Final Word

Greenvale's Trading session fall came as the company began a grant-supported geophysical survey at Thunderball. The survey results will inform the drilling program that follows.