Chalice Mining Limited is advancing its flagship Gonneville palladium-nickel-copper project through critical de-risking phases ahead of a pilot plant campaign planned for the third quarter of 2026. The company has reinforced its technical and financing credentials with two strategic appointments during the quarter: Palaris has been engaged as the Independent Technical Engineer to verify bankability of the feasibility study, while Odin Partnership Limited joined as strategic advisor focused on mining finance. These moves signal that Chalice is moving beyond conceptual studies toward demonstrating operational viability to potential project financiers and offtake partners.
The pilot plant represents the final flowsheet de-risking step for the project. Metallurgical drilling is underway to support an eight-week continuous campaign that will test the full process, including refined elution workstreams for the palladium-platinum-gold-nickel recovery circuit. Palaris’s involvement as an independent engineer tasked with verifying bankability is particularly significant for investors. This third-party validation of the feasibility study reduces the perception risk that typically surrounds major project development, especially for junior explorers transitioning into production. The appointment signals confidence from both the company and the assuring engineer that the project can move toward financing and development.
Chalice’s funding strategy has shifted toward secured pathways including byproduct stream monetization, offtake-linked finance, sovereign credit agencies, and strategic investment. The company maintains a strong cash position of 59 million dollars as of 30 June 2026, providing runway for ongoing development work and regulatory processes. Environmental assessment continues with draft Environmental Review Documents expected in the fourth quarter of 2026, triggering the regulatory approval phase. Second-phase stakeholder engagement on infrastructure corridors for power and water is also progressing, with preferred routes now finalized.
The socio-economic analysis completed during the quarter adds weight to the project’s development case beyond pure commodities value. The modeling demonstrates a 24.1 billion dollar contribution to Western Australia’s Gross State Product over 23 years of operations, 419 direct residential jobs during production, and 3,761 jobs supported across the state including indirect employment. This economic narrative becomes increasingly important for permitting and community support as the project moves through the regulatory approval process.
The exploration division has also identified new opportunities that could provide optionality. A copper-rare earth element target at Deep Blue returned rock chip samples up to 19.3 percent total rare earth elements alongside copper, silver, and gold, with an initial 19-hole reverse circulation program launched in mid-July. Three exploration licenses were granted over the Warrego North project in the Northern Territory, with drilling planned for September, while Callabonna drill targets in South Australia are finalized for September drilling. Investors should monitor the pilot plant results in Q3 2026 as the key catalyst, along with progress toward environmental approval in Q4. This announcement is price sensitive and flagged as material by the ASX.
View the full ASX announcement (PDF)
About Chalice Mining Limited (ASX: CHN)
Chalice Mining Limited is an explorer and developer of precious and base metals, with a primary focus on its flagship Julimar project in Western Australia. The project contains platinum group elements, nickel, copper, cobalt, and gold resources. The company maintains additional exploration interests across Western Australia and the Northern Territory, positioning itself as a developer of green metals for the energy transition.
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