What is the core reason for the latest project milestone announced by Anax Metals (ASX:ANX)?

Anax Metals (ASX:ANX) has commenced front-end engineering design for its 80%-owned Whim Creek Copper Project to refine engineering definitions and progress the asset towards a final investment decision.

What are the projected financial metrics and capital outlay estimates for Anax Metals (ASX:ANX)?

Anax Metals (ASX:ANX) forecasts an estimated capital cost of $91 million for the Whim Creek Copper Project, which a February study estimated holds a pre-tax net present value of $501 million.

What timeline is Anax Metals (ASX:ANX) targeting for its final investment decision?

Anax Metals (ASX:ANX) targets reaching a final investment decision for the Whim Creek Copper Project in the fourth quarter of calendar year 2026.

Where is the Whim Creek Project located and what infrastructure will Anax Metals (ASX:ANX) build?

Anax Metals (ASX:ANX) is developing the project in Western Australia's Pilbara region, with plans featuring a 400 kilotonne-per-annum concentrator, ore sorting circuits, and mining fleet infrastructure.

Image for illustrative purposes only. Not a real photo.

Anax Metals starts engineering work for Whim Creek Project

Written by Liezl GambePublished Jul 27, 2026, 6:42 AM

· Anax Metals has commenced front-end engineering design for its 80%-owned Whim Creek Copper Project.

· The engineering milestone moves the company towards a targeted final investment decision in Q4.

· Anax Metals aims to advance funding, refine capital estimates, and transition the copper asset into execution.

Anax Metals (ASX:ANX) has commenced front-end engineering design work for its 80%-owned Whim Creek Copper Project in Western Australia.

The engineering phase follows an updated February study that estimated a pre-tax net present value of $501 million.

The company did not include an executive quote in the announcement.

An integrated team comprising WSP, Orelogy, CPC Engineering, and Gekko Systems will deliver the engineering programme.

Anax Metals stated that the project requires an estimated capital outlay of approximately $91 million.

Following the announcement, Anax Metals' share price was $0.03.

The project features a 400 kilotonne-per-annum concentrator alongside ore sorting and mining fleet infrastructure.

Anax Metals has shortlisted select strategic partners and is conducting site visits as part of project funding activities.