Key Highlights
- Tolu Minerals shares rose 8.42% to $1.100 in the 3 November 2026 trading session, while the S&P/ASX 200 gained 0.14%.
- Cash of approximately A$56.5 million was reported at 30 September 2026, after a PGK 95 million Debt Facility was drawn.
- The updated resource at Tolukuma is 4.31 million tonnes at 6.57 grams per tonne gold, for 909,000 ounces.
During the Trading session on 3 November 2026, Tolu Minerals Ltd (ASX:TOK) shares rose 8.42% to $1.100. The S&P/ASX 200 (ASX:XJO) was up 0.14%, or 12.50 points, at 8,869.00 at 2:42 pm (GMT+11) on the same day. Tolu Minerals is advancing the Tolukuma Gold Mine in Papua New Guinea toward production. Its quarterly report, dated 30 October 2026, covers the September 2026 quarter.
Drilling
The company completed 10,772 metres of diamond drilling in the September quarter, with September the highest monthly total in the mine's history at 4,729 metres. Drilling reached 32,058 metres for 2026 by 23 October, with seven diamond rigs operating.
Resource update
The updated Mineral Resource Estimate, based on a revised geological model, is 4.31 million tonnes at 6.57 grams per tonne gold for 909,000 ounces at a 3 grams per tonne cut-off. It includes a maiden Indicated Resource of 199,000 ounces.
Development and funding
327 metres of underground development was completed during the quarter. Cash of about A$56.5 million was reported, including the drawdown of a PGK 95 million five-year facility with National Banking Corporation.
Sector context
The S&P/ASX 200 gained 0.14% during the session. The report does not discuss gold market conditions.
Risks
The company is still moving toward production, and development depends on continued drilling, construction and operating performance. The debt facility adds repayment obligations. The updated resource is based on the revised geological model and may change with further drilling.
What lies ahead
Drilling continues with seven rigs operating, and the company is progressing development toward production.
Final Word
The quarter focused on record drilling, a revised resource and mine development.
_11_12_2026_10_36_35_483404.jpg)


_11_12_2026_10_36_50_897036.jpg)


Please wait processing your request...