Key Highlights

  • Western Mines Group shares traded up 8.33% at $0.130 during the 11 November 2026 trading session.
  • Phase 5 RC drilling at Mulga Tank returned broad zones of nickel sulphide mineralisation.
  • The updated resource lists 1,121 million tonnes indicated at 0.28% nickel and 1,526 million tonnes inferred at 0.27% nickel.

During the Trading session on 11 November 2026, Western Mines Group Ltd (ASX:WMG) shares were trading at $0.130 by late morning, up 8.33%. The S&P/ASX 200 (ASX:XJO) was down about 0.06% at 9,123.90 at 12:19 pm over the same period. Western Mines is a nickel, cobalt, copper and platinum group metals explorer with its flagship Mulga Tank project. On 30 October 2026, the company announced its September quarterly activities report.

 

Phase 5 Drilling Results

Western Mines reported geochemical assays for Phase 5 RC holes MTRC076 to MTRC094 at Mulga Tank, with each hole showing broad zones of nickel sulphide mineralisation. Examples included 235 metres at 0.28% nickel from 83 metres in MTRC080, and 213 metres at 0.28% nickel from 87 metres in MTRC082. Higher-grade intervals were also reported, including up to 2.26% nickel and 0.35% copper in MTRC078.

 

Updated Mineral Resource

The company said Phase 4 and Phase 5 results were included in an updated mineral resource estimate after the quarter ended. Using a 0.20% nickel cut-off, the estimate lists 1,121 million tonnes indicated at 0.28% nickel and 1,526 million tonnes inferred at 0.27% nickel. Western Mines described the deposit as a globally significant, large-scale, open-pit able nickel sulphide deposit at that cut-off.

 

Cash Position

Cash stood at $1.03 million at 30 September 2026, according to the quarterly report.

 

Sector Context

Nickel sulphide projects are assessed on resource size, grade and the metallurgy of the mineralisation. Nickel and the associated battery and stainless steel markets influence project economics, and exploration companies at the resource stage often trade on drilling results and resource updates.

 

Key Risks

The resource estimate is based on drilling and modelling, and grades at lower cut-offs can differ from the higher-grade intervals reported. Cash of $1.03 million at 30 September 2026 is modest, so the company will need further Capital to advance its programs. Nickel prices and metallurgical performance could also affect the project’s future economics.

 

What to Watch Ahead

Investors will be watching for further metallurgical and scoping work at Mulga Tank, the company’s planned follow-up drilling and any capital raising to fund the next phase. The next Quarterly Report will provide an update on activities and spending.

 

Final Word

Western Mines Group’s trading session on 11 November 2026 came as the company continues to build its Mulga Tank resource base. The next technical and funding steps will determine the direction of the project.