The St George Mining Ltd (ASX: SGQ) share price was in focus today after the company released its June 2026 quarterly report, highlighting successful high-grade niobium and rare earths concentrate results and a strengthened cash position following a $60 million capital raise.
Image source: Getty Images
What did St George Mining report?
- Strong metallurgical results: High-grade niobium and rare earths concentrates produced, with industry-comparable recovery rates
- Drilling at Araxá delivered multiple thick, high-grade intercepts, indicating further potential resource growth
- Worley appointed as feasibility technical adviser for Araxá Project development studies
- Successfully raised $60 million in new equity, boosting cash balance to $98 million
- Amperex Technology Limited (ATL) invested in St George shares as part of Lithium Star Pty Ltd restructure
- Hancock Prospecting increased its shareholding to 10.3%
What else do investors need to know?
St George Mining's work at the Araxá Project continues to focus on unlocking value in both niobium and rare earths. The latest metallurgical testing, completed by leading laboratories in Brazil and Canada, showed the potential to upgrade rare earths concentrate to a 15.7% Total Rare Earth Oxide (TREO) grade. Ongoing test work is now targeting further grade and recovery improvements.
The appointment of Worley as technical adviser brings deep engineering experience in Brazilian resources projects, aiming to streamline the feasibility and development process at Araxá. Meanwhile, substantial drill intercepts reported during the quarter indicate that mineralisation remains open in all directions, supporting St George's confidence in the project's growth potential.
Outside of Araxá, St George took full control of its lithium-focused subsidiary Lithium Star, with ATL becoming a direct investor in the parent company. There were no significant activities at the company's other projects this quarter, though new field work is planned for 2026.
What's next for St George Mining?
Looking ahead, St George plans to advance development studies at the Araxá Project, leveraging Worley's expertise and its in-house team. Further metallurgical test work is underway in both Brazil and Canada to optimise concentrate grades and recoveries, with results expected to inform the design of the future processing plant.
The company's robust cash balance provides funding certainty to support ongoing exploration, resource definition, and feasibility studies. Investors can expect updates as St George targets resource expansion, project approvals, and strategic partnerships, especially as interest in critical minerals continues to rise.
St George Mining share price snapshot
Over the past 12 months, St George Mining shares have risen 93%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
