3 ASX Mining Stocks Slip Today as They Release Updates: Mount Hope, Pursuit and Kincora

Sonal Goyal

26 October 2026 04:59 PM AEDT

3 ASX Mining Stocks Slip Today as They Release Updates: Mount Hope, Pursuit and Kincora

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Key Highlights

Mount Hope Mining (ASX:MHM) traded at $0.18, down 10.00%, during the 26 October 2026 session.
Pursuit Minerals (ASX:PUR) traded at $0.065, down 9.72%, during the 26 October 2026 session.
Kincora Copper (ASX:KCC) traded at $0.85, down 8.60%, during the 26 October 2026 session.

Mount Hope Mining (ASX:MHM) at $0.18, down 10.00%, Pursuit Minerals (ASX:PUR) at $0.065, down 9.72% and Kincora Copper (ASX:KCC) at $0.85, down 8.60% were among the ASX decliners during the Trading session on 26 October 2026, while the S&P/ASX 200 index (XJO) stood at 8,805.30, up 0.11% or 10.10 points, at 2:06 pm. Mount Hope Mining, Pursuit Minerals, Kincora Copper each published an announcement dated 26 October 2026; the other releases referenced below carry earlier dates and are reported as separate items from the share price movement.

Mount Hope Mining (ASX:MHM): Drilling and metallurgy (26 October 2026)

Phase 3 drilling comprised 10 RC holes for 2,919 metres testing southern, northern and western extensions of the Mt Solitary gold system, with assays expected early in the December 2026 quarter. Maiden ALS Metallurgy testwork showed coarse, free-milling gold suited to gravity and cyanidation, with 70.4% gravity-recoverable gold and 94.6% cyanide solubility of gravity tailings.

A $1.82 million Placement at $0.145 per share with no broker fees was cornerstoned by Ronin Metals. Cash was $3.5 million, with 59.2 million shares outstanding and a Market Capitalisation of $12.7 million. Environmental baseline and EIS readiness work is advancing, with flora and fauna field work starting at the end of October.

Pursuit Minerals (ASX:PUR): IP survey and drilling plan (26 October 2026)

Pursuit completed its 2026 IP survey at Sascha Marcelina and combined it with mapping, historical drilling and geochemistry in an updated 3D model. The revised program has eight holes: 1,500 metres at Sascha, testing vein continuity along a 5.5 km mapped vein system including a 400 metre step-back behind historical hole DDS03, and 1,850 metres at Marcelina, testing mapped vein 173, Fault 2 and the central breccia corridor.

Twenty follow-up holes for 7,150 metres across Sascha, Marcelina, Estancia, Igloo and Valdivia-Brechon have been designed and would be prioritised on initial results. Drilling is expected to start after rig mobilisation and site access arrangements are complete.

Kincora Copper (ASX:KCC): Option agreement (26 October 2026)

Kincora secured an exclusive option with Lightning Minerals (ASX:L1M) to acquire 100% of some or all of six early-stage licences covering 1,147 square kilometres in the Lachlan Fold Belt, including Boree Creek, which hosts an outcropping Macquarie Arc porphyry copper-gold system, and Corryong in Victoria.

Limited shallow drilling at Boree Creek's Dairy Hill returned 48 metres at 0.35% copper and 0.31 g/t gold, and Kincora plans near-term drilling to validate and extend it. The option fits its hybrid prospect generator model of low-cost exploration before seeking an asset-level partner.

About the companies

Mount Hope Mining Limited (ASX:MHM) is an explorer in the Cobar Basin, NSW, advancing the Mt Solitary Gold Project through drilling, supported by the MS2 Gold Corridor and a polymetallic portfolio.

Pursuit Minerals Ltd (ASX:PUR) explores gold-silver epithermal systems in Santa Cruz Province, Argentina.

Kincora Copper Limited (ASX and TSXV: KCC) is a Melbourne-based copper-gold explorer with a prospect generator model.

Related sector context

Cobar Basin gold and base metal exploration progresses through drilling, metallurgy and environmental baseline studies before any development decision.

Epithermal gold-silver systems in Patagonia are tested with IP geophysics and diamond drilling to find mineralisation beneath silica alteration.

The Macquarie Arc in New South Wales is a copper-gold province with porphyry systems, and explorers there use Options to gain access to tenure at low cost.

The XJO was up 0.11% at 2:06 pm on the day.

Risks to weigh in

Mount Hope Mining: Assay results are pending, metallurgy was Phase 1 only and shares priced at $0.18 can move sharply in either direction.

Pursuit Minerals: Drilling has not started, targets are geophysical, and the follow-up holes depend on the first program's results.

Kincora Copper: The option need not be exercised, drilling has not started on the new ground and shares can move sharply in either direction.

Catalysts on watch

Mount Hope Mining: Items to follow include Phase 3 assays, further metallurgy and environmental baseline work.

Pursuit Minerals: Items to follow include rig mobilisation, drilling start and first assays.

Kincora Copper: Items to follow include Dairy Hill drilling and any exercise of the option.

Summing up

Mount Hope Mining (ASX:MHM), Pursuit Minerals (ASX:PUR) and Kincora Copper (ASX:KCC) traded 10.00%, 9.72%, 8.60% lower respectively during the 26 October 2026 session, with the announcements above dated 26 October 2026; 26 October 2026; 26 October 2026.

FAQs

Q: Which stocks are covered in this article?

A: Mount Hope Mining (ASX:MHM), Pursuit Minerals (ASX:PUR) and Kincora Copper (ASX:KCC).

Q: How did the S&P/ASX 200 trade?

A: It stood at 8,805.30, up 0.11%, at 2:06 pm on 26 October 2026.

Q: Which announcements are dated 26 October 2026?

A: The quarterly report from Mount Hope, the IP survey and drilling update from Pursuit and the option agreement from Kincora.

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