The Chalice Mining Ltd (ASX: CHN) share price is in focus today after the company released its June 2026 quarterly activities report, headlined by a continued strong cash position of $59 million and clear progress in advancing the Gonneville critical minerals project towards final investment decision.
Image Source: Getty Images
What did Chalice Mining report?
- Cash and listed investments of $58.9 million as at 30 June 2026
- Feasibility Study for Gonneville Palladium-Nickel-Copper Project advancing; pilot plant to commence in Q3 CY26
- Pre-Feasibility Study supports a two-stage, 23-year open-pit mine with projected annual output of 220,000oz 3E (palladium, platinum, gold), 7kt nickel, and 8kt copper
- Sustained exploration activity, including a new copper–rare earth target at Deep Blue (WA) and preparations for major drilling in NT and SA
- Second phase of community and stakeholder engagement on infrastructure routes underway
- Ongoing engagement with potential financiers and commercial partners, with an updated funding strategy focused on byproduct streams, offtake-linked finance, and strategic investment
What else do investors need to know?
Chalice Mining continued to add depth to its team with the appointments of Paul De Ponte as Project Director for Gonneville and Tim Langmead as General Manager Corporate Affairs during the quarter. The company also brought on Odin Partnership Limited as strategic advisor to assist with project development and financing.
On the exploration front, Chalice made headway at several projects, notably the Deep Blue prospect in WA, where rock chip sampling returned up to 19.3% TREO and evidence of high-value magnet rare earths. Grants of new licences in the NT and SA enabled preparations for upcoming RC drilling campaigns. Across these activities, Chalice invested around $1.3 million in exploration during the quarter.
What's next for Chalice Mining?
Looking ahead, Chalice is aiming to complete its Gonneville Feasibility Study in the second half of 2027, with offtake agreements and funding to follow. A final investment decision is targeted for the first half of 2028, pending successful environmental approvals and finalisation of all key project workstreams.
Exploration will remain active, with drilling at the Deep Blue, Warrego North, and Callabonna JV projects planned for the September quarter. The company's strong balance sheet is expected to support ongoing project development and exploration activities through to FID.
Chalice Mining share price snapshot
Over the past 12 months, Chalice Mining shares have declined 34%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
