Moho Resources (ASX:MOH) is an early-stage gold explorer whose story centres on the Bush Chook Gold Project in the Pilbara region of Western Australia, where Reverse Circulation Drilling is planned to resume in the fourth quarter of 2026. The latest quarterly cash figures could not be read.

What the company does

Moho describes itself as an Australian natural resources company focused on early-stage gold and other metals projects in Western Australia. Bush Chook lies in the Mosquito Creek Basin east of Nullagine and covers roughly 440 square kilometres across granted and pending licences, according to the company's website. Moho staked the project in 2025. It has no declared JORC resource at Bush Chook in the documents reviewed, and the company's March 2026 presentation attributes the basin's 2.5 million ounce gold endowment to government data on past production and resources, not to Moho.

Recent exploration news

On 5 February 2026 Moho announced 13 new prospecting licences and four new targets, taking its drill target list to 18. It cited trench samples at the Gage Road prospect of 9 metres at 1.85 g/t gold, including 2 metres at 5.45 g/t.

The company's website says a 5,000-metre reverse circulation program formed Phase One in 2026, with 3,492 metres complete as of 22 July 2026. It reports two new shallow, multi-lode systems, Gage Road and CBco, with four mineralised lodes over more than 600 metres of combined strike, open along strike and at depth. These are drilling intercepts, not a resource estimate.

On 22 June 2026 Moho announced a heritage agreement it says secures access to priority drill targets; the website names the Palyku-Jartayi Aboriginal Corporation. Moho's March 2026 presentation said only about 20 per cent of the landholding had been granted, with the remainder dependent on heritage arrangements. Land access is therefore a key risk.

Funding and dilution

The latest cash figure verified is A$2.147 million at 31 December 2025, taken from the March 2026 corporate presentation, which excludes milestone payments from the sale of the East Sampson project and a deferred payment for Empress Springs. The 29 July 2026 Quarterly Report was not available to read, so the current cash balance and quarterly burn are not stated here. The presentation described the company as well funded for 2026; that is company guidance.

The ASX announcement list shows frequent securities issues, with applications for Quotation and cleansing notices on 18 February, 23 and 31 March and 5 August 2026, plus a completed non-core project sale on 20 April 2026. Amounts were not available. Shares on issue were about 1.05 billion in the presentation. Further issues indicate ongoing dilution, but the sizes should be checked in the notices.

Sector context and risks

The Mosquito Creek Basin is shared with neighbouring operators. The company points to AIM Mining's Blue Spec gold-antimony project nearby and potential toll-treating Options at a nearby plant, subject to commercial arrangements that have not been agreed. Risks include drilling not extending the early lodes, heritage access delays, funding needs and the usual Commodity and Equity market volatility.

Milestones

The company says Phase Two will test the Gage Road and CBco structures at wider spacing and make a first pass at the Emu and Bright Tank prospects, with drilling scheduled to resume in the fourth quarter of 2026. A quarterly report is expected around 27 October 2026, though that date has not been confirmed.