Key Highlights

  • Mount Hope Mining (ASX:MHM) shares traded at $0.18, down 10.00%, during the 26 October 2026 session.
  • Ten RC holes for 2,919m were drilled at Mt Solitary in Phase 3.
  • Maiden metallurgy indicated gold recovery above 98%.

Mount Hope Mining Ltd (ASX:MHM) shares traded at $0.18, down 10.00%, 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. On the same day, the company released an ASX announcement dated 26 October 2026 covering its September 2026 quarterly report.

Mount Hope Mining is advancing the Mt Solitary Gold Project in New South Wales, and the report covers drilling, metallurgy and a placement.

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.

Funding

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.

About Mount Hope Mining

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.

Related sector context

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

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

Risks to weigh in

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

Catalysts on watch

Items to follow include Phase 3 assays, further metallurgy and environmental baseline work.

Bringing it together

Mount Hope Mining (ASX:MHM) traded 10.00% lower during the 26 October 2026 session, while its announcement, dated 26 October 2026, covered Phase 3 drilling, metallurgy and a $1.82 million placement.