Bubalus Resources Limited (ASX:BUS), a company focused on gold and critical minerals projects in Victoria and the Northern Territory, has announced an update on its portfolio optimisation and current activities. Following a strategic review, Bubalus has withdrawn from the Avon Plains Gold Project to concentrate resources on priority Victorian assets including Crosbie South, Crosbie North, Wilson’s Hill, Murrindindi, and Castleburn. The company has also rationalised tenure at the Amadeus Project, focusing solely on EL32796, where previous work identified gallium anomalism up to 260 ppm.
The company has five projects: the Victorian Gold Projects, the Yinnietharra Lithium Project, the Amadeus Project, the Coomarrie Project, the Nolans East Project and the Pargee Project, which are located in the Northern Territory and Western Australia. The Victorian Gold Projects consist of five granted licenses in the heart of the Victorian Goldfields, headlined by the Crosbie South and Crosbie North Projects, where gold-bearing systems have been identified in both maiden drilling programs in 2025.
In a move to enhance financial discipline, the Board has implemented a 25% reduction in fees for the Managing Director, Chairman, and Corporate Advisers. This demonstrates a clear commitment to cost control and shareholder alignment. Bubalus Resources continues to advance its existing projects while assessing value-accretive opportunities.
The company maintains a strong financial position with over $3 million in cash reserves. This funding will support ongoing exploration efforts and near-term evaluation of priority targets across its project portfolio.
