Top 5 Australian Mining Stocks This Week: Dateline Resources Gains 67 Percent on DoJ Backing
Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.
This week's top five gainers includes companies focused on gold, rare earths, copper and more.
Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their share prices.
Market and commodities price round-up
The S&P/ASX 200 (INDEXASX:XJO) opened at 8,686.2 on Monday (September 28) and closed at 8,614.4 on Thursday (October 1), ending the period down 0.83 percent.
The gold price was down this week as of the close of Australian stock markets Thursday. It fell 1.7 percent in US dollars, from US$4,260.49 per ounce on Monday to US$4,188.02. Meanwhile, a 0.82 percent decrease was seen in Australian dollars, with gold moving from AU$6,078.59 to AU$6,028.75 per ounce.
The silver price ended the period down 3.78 percent in US dollars from US$63.72 per ounce to US$61.31. In Australian dollars, the metal decreased 2.93 percent from AU$90.87 to AU$88.21.
Top ASX mining stocks this week
How did ASX mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Australian mining stocks below as the Investing News Network breaks down their operations and why these companies are up this week.
Stocks data for this article was retrieved using TradingView's stock screener and reflects price movements between the first trading day of the week and Thursday. Only companies trading on the ASX with market capitalisations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Dateline Resources (ASX:DTR)
Weekly gain: 66.67 percent
Market cap: AU$461.65 million
Share price: AU$0.105
Dateline Resources is a mining and exploration company advancing its Colosseum gold and rare earths project in California, US.
The property includes past-producing mining operations, and consists of 80 unpatented lode mining claims and two patented mining claims, covering a total land package of 1,381 acres, in the Clark Mountain Mining District of San Bernardino County. The region is home to existing mining operations, including MP Materials' (NYSE:MP) Mountain Pass rare earths mine. Colosseum is located within the Mojave National Preserve.
In May 2026, the company released a definitive feasibility study evaluating Colosseum as an open-pit gold mine. It demonstrated key financial metrics with a post-tax net present value of US$551 million, an internal rate of return of 38.6 percent and a payback period of 3.6 years.
In August, a US District Court granted a preliminary injunction halting operations at Colosseum, in proceedings brought by the National Parks Conservation Association (NPCA). The NPCA requested the injunction while a lawsuit was brought before courts challenging the Department of the Interior's 2025 decision to allow operations to resume under an old mine plan instead of requiring a new one with updated environmental assessments. The NPCA stated that the mine posed a threat to the Mojave National Preserve’s desert landscape and public access to the preserve.
Then, on September 18, Dateline filed a motion to stay the injunction while it appeals.
On Monday, Dateline announced that the US Department of Justice had filed its own motion seeking a stay. The government argued the injunction harms US national security, and asked that Dateline be allowed to resume operations under its approved plan of operations while the appeal proceeds.
The motion is supported by a declaration from the US Department of Defense’s assistant secretary for industrial base policy, which cited Colosseum’s proximity to Mountain Pass and the importance of domestic rare earths supply. Both stay motions are scheduled to be heard on October 26.
2. Boa Resources (ASX:BOA)
Weekly gain: 66.67 percent
Market cap: AU$47.95 million
Share price: AU$0.175
BOA Resources is a polymetallic exploration company with a portfolio of projects in Western Australia.
The company’s primary focus has been at its Neds Creek copper project in the state’s Murchison District, which hosts the Ricci Lee prospect.
On June 25, the company entered into an agreement to wholly acquire Core Value Australia (ASX:CXO), which holds a 51 percent interest in Ned's Creek, consolidating the asset under BOA's control. The deal would also give it 100 percent ownership of the Thaduna and Green Dragon deposits, which Core is acquiring from Sandfire Resources (ASX:SFR,OTCPL:SFRRF). The deal increases BOA's land holdings to 1,378 square kilometres.
On September 21, BOA reported the first assays from its 46 hole maiden reverse circulation drill program at the Ricci Lee prospect.
Then, on Monday, the company announced further results from Ricci Lee, reporting it had intersected high-grade copper in nine of the first 10 holes from the program. One hole returned 22 metres grading 3.05 percent copper and 9.5 grams per tonne (g/t) silver from a depth of 250 metres, including 9 metres averaging 6.86 percent copper and 22.1 g/t silver.
The company said assays are pending for another 36 holes at Ricci Lee, along with results from five additional prospects at Neds Creek.
3. Image Resources (ASX:IMA)
Weekly gain: 66.67 percent
Market cap: AU$18.96 million
Share price: AU$0.02
Image Resources is a mineral sands mining company that operates the Boonanarring mineral sands mine north of Perth, Western Australia.
It is also advancing its Erayinia-King gold project, which lies southeast of Kalgoorlie and comprises two exploration licences and two prospecting licences. In January, the company released a maiden mineral resource estimate for the project, reporting an inferred resource of 139,000 ounces of gold from 2 million tonnes grading 2.1 g/t gold.
On Tuesday (September 29), Image released results from its 2026 drill program at Erayinia-King. The program consisted of 50 holes, including eight diamond drill holes, and was designed in part to upgrade the resource from the inferred to the indicated category.
Highlights included 4.5 metres grading 22.4 g/t gold from 128 metres of depth, including 1 metre at 98.55 g/t gold. Another hole returned 16 metres at 2.51 g/t gold from 76 metres.
4. EMU (ASX:EMU)
Weekly gain: 44.44 percent
Market cap: AU$10.54 million
Share price: AU$0.026
EMU is an exploration company advancing its Georgetown project in Queensland.
The company holds an 80 percent interest in the property, which covers an area of approximately 850 square kilometres. The remaining 20 percent is owned by Rugby Resources (TSXV:RUG).
The most recent news from the site came on September 16, when EMU provided an update on its drilling at its Yataga Valley project, located within the broader Georgetown footprint.
Its first deep hole was drilled to an approximate depth of 735 metres and intersected multiple shear and vein structures between about 330 and 470 metres. A second deep hole was in progress about 1 kilometre to the south; it encountered shear zones starting at around 430 metres.
EMU says that mapping has refined a series of untested targets on the western side of Yataga Valley, which will be the focus of its next drilling depending on results from the first holes. The company anticipated first assay results to be released between late September and mid-October. As of October 1, they have yet to be released.
5. Meteoric Resources (ASX:MEI)
Weekly gain: 31.58 percent
Market cap: AU$494.13 million
Share price: AU$0.025
Meteoric Resources is a rare earths exploration and development company advancing its Caldeira ionic clay project in Brazil.
The property is located in Southwest Minas Gerais and consists of 77 licences covering a total land package of 193 square kilometres.
On July 31, Meteoric released a definitive feasibility study that demonstrated project economics with a post-tax net present value of US$847 million, an internal rate of return of 24 percent and a payback period of four years, calculated using a July 2026 spot price. According to the included resource estimate, Caldeira hosts a combined measured, indicated and inferred mineral resource of 1.63 billion tonnes grading 2,317 parts per million total rare earth oxides.
On Thursday (October 1), Meteoric and Lynas Rare Earths (ASX:LYC,OTCQX:LYSDY) announced a binding scheme implementation deed under which Lynas will acquire 100 percent of Meteoric in an all-share deal. Meteoric shareholders will receive 0.0207 Lynas shares for each share held, with an equity value of about AU$968 million.
Lynas will also provide interim funding of up to AU$110 million to keep Caldeira advancing during the transaction process. The deal targets completion in March 2027 if all conditions are met, including shareholder and government approval.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
