Exploration Stocks Lower Today: ADC, EVG and CAY Shares in Focus

Sonal Goyal

10 November 2026 07:04 PM AEDT

Exploration Stocks Lower Today: ADC, EVG and CAY Shares in Focus

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Key highlights

Canyon Resources (ASX:CAY) fell 7.61% to $0.043 during the trading session.
ACDC Metals (ASX:ADC) dropped 7.14% to $0.039, and Evion Group (ASX:EVG) fell 7.69% to $0.012.
The S&P/ASX 200 rose 1.34% over the same session.

Three ASX exploration companies traded lower during the 10 November 2026 trading session, while the S&P/ASX 200 gained 1.34%, or 121.20 points, to 9,150.90. ACDC Metals Ltd (ASX:ADC) and Evion Group NL (ASX:EVG) both hold projects in Nevada, while Canyon Resources Ltd (ASX:CAY) was the subject of a Takeovers Panel matter. Each has a different development to report. Each section below sets out the update and the share price move.

ACDC Metals Ltd (ASX:ADC)

ACDC Metals shares fell 7.14% to $0.039 during the session. Its 6 November 2026 announcement said field work had started at the Mount Jackson Gold-Silver Project in Nevada's Walker Lane, with civil works under way to prepare drill pads and access tracks.

A controlled source audio magnetotellurics survey has commenced to refine targets for a permitted 2,500-metre maiden drill program. The program will test the Pegasus Zone, where historic hole PC-34A returned 25 metres at 2.14 g/t gold, and carry out the first drilling at the 3 Shaft Zone.

Evion Group NL (ASX:EVG)

Evion shares were down 7.69% at $0.012 during the session. Its 2 November 2026 release announced a binding option to earn up to a 75% interest in the 40-claim Blue Nose property in Nevada, about 1.2km north-west of its Carp claims.

The company said 9,116 metres of historic drilling from 63 reverse circulation holes was never assayed for fluorine. Evion plans fluorine re-assay of selected stored samples and barium oxide screening before new field work.

Canyon Resources Ltd (ASX:CAY)

Canyon shares fell 7.61% to $0.043 during the session. A Takeovers Panel media release dated 6 November 2026 set out final orders in relation to the affairs of the company, following a Takeover offer by A2MP Investments FZCO that lapsed on 21 September 2026.

The Panel found inadequate disclosure in A2MP's bidder's statements and ordered A2MP to prepare corrective disclosure for the ASX. The Panel said it will publish its reasons on its website in due course.

Final Word

Each of the three companies reported on a different matter, and their share prices moved separately during the session. The next drilling, re-assay and regulatory updates will provide further information on each.

FAQs

Q: How long is ACDC's maiden drill program?

A: The permitted maiden drill program is 2,500 metres.

Q: How much of Blue Nose can Evion earn?

A: Evion has a binding option to earn an interest of up to 75%.

Q: When will the Takeovers Panel publish its reasons?

A: The Panel said it will publish its reasons in due course.

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