Trek Metals

What Trek Metals does

Trek Metals Ltd is an Australian mining exploration company listed on the Australian Securities Exchange under ticker TKM, headquartered in North Fremantle (Perth), Western Australia. The company discovers and develops mineral resources — gold, manganese, lithium, niobium, and copper — through a portfolio of six exploration projects located across Western Australia's Kimberley region. Its flagship project, Christmas Creek, hosts both a gold exploration target and the Kuro high-grade manganese discovery, where rock chip sampling has returned grades of up to 60.1% Mn. Other projects in the portfolio include McEwen Hills, South Woodie Woodie, Tambourah, Pincunah, and Kingia.

The company's core technology is conventional mining exploration — reverse circulation (RC) and diamond drilling — supplemented by metallurgical testing. Trek is planning a multi-rig RC and diamond drilling campaign at Kuro from April 2026, with the explicit objective of delivering a maiden Mineral Resource estimate. Workstreams include resource definition drilling and metallurgical test work alongside continued gold exploration across the broader portfolio. Joint ventures are also pursued as a means of advancing non-core projects.

Trek Metals operates as a pre-revenue exploration company; it generates no recurring product or service revenue and monetizes its assets only upon successful resource definition, through either mineral production or the sale of assets. Capital is sourced from the ASX equity market via share placements to institutional and retail investors. In February 2026, the company raised A$15 million through an oversubscribed placement at A$0.15 per share, cornerstoned by specialist mining investor Terra Capital and supplemented by A$1.45 million of director subscriptions, placing pre-money valuation at A$165 million. Use of proceeds is dedicated to the Kuro drilling program, metallurgical testing, and additional gold exploration across the Kimberley portfolio.

Name

Trek Metals

Legal name

Trek Metals Ltd

Website

https://trekmetals.com.au

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Trek Metals Ltd is an Australian mining exploration company (ASX: TKM) operating in Western Australia's Kimberley region, targeting gold, manganese, lithium, niobium, and copper across six exploration projects, with a high-grade manganese discovery at its Christmas Creek project.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Metal Ore Mining (2122), Other Metal Ore Mining (212290)

SIC

Metal Mining (1000)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Mineral exploration services
• Gold exploration projects
• Manganese mining discovery
• Lithium exploration assets
• Junior mining explorer

Headquarters

HQ city

North Fremantle

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Mineral Exploration and Development: Pre-revenue mining exploration company focused on discovering and developing mineral resources including gold, manganese, lithium, niobium, and copper in Western Australia. Revenue generation will come from mineral production or sale of assets upon successful resource definition.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Trek Metals is a pre-revenue Australian mining exploration company that identifies, explores, and develops mineral resources across gold, manganese, lithium, niobium, and copper prospects in Western Australia. The company's portfolio includes the Christmas Creek Gold Project (containing the high-grade Kuro manganese discovery), McEwen Hills, South Woodie Woodie, Tambourah, Pincunah, and Kingia projects, with future commercialization through mineral production, asset sales, or joint venture agreements.

Product overview

Trek Metals is an Australian mining and exploration company (ASX:TKM) with a portfolio of exploration projects targeting gold, lithium, niobium, copper, manganese, and geothermal lithium brine. The company's primary projects include Christmas Creek (Gold and Kuro manganese discovery), McEwen Hills, South Woodie Woodie, Tambourah, Pincunah, and Kingia, all located in Western Australia's Kimberley region. The company conducts exploration through joint ventures and is advancing toward a maiden Mineral Resource estimate for the Kuro manganese discovery.

Differentiator

Problem solved

Functional benefit

Products and services

• Christmas Creek Project Gold and manganese exploration project located in the Kimberley region of Western Australia, hosting the Kuro manganese discovery. Targeted for advancement toward a maiden Mineral Resource estimate through multi-rig RC and diamond drilling.
• McEwen Hills Project Exploration project located in Western Australia targeting various minerals within the company's diversified commodity portfolio.
• South Woodie Woodie Project

Quantifiable outcome

• 60.1% Mn rock chip grades at Kuro manganese discovery
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Element 25: ASX-listed manganese developer focused on the Butcherbird Manganese Project in Western Australia's Pilbara region. Most directly comparable to Trek Metals given shared manganese commodity focus, WA jurisdiction, and similar exploration-to-development stage with a defined manganese resource.
• Black Canyon Mining: ASX-listed explorer with manganese and copper projects in Western Australia's Pilbara and broader WA region. Closely comparable exploration-stage profile to Trek Metals, with diversified critical minerals exposure and similar pre-resource drilling programs.
• Firebird Metals: ASX-listed manganese and battery materials explorer advancing projects in Western Australia. Comparable to Trek Metals as an early-stage manganese-focused explorer targeting high-grade mineralisation in similar WA geology.

Emerging players

• Liontown Resources: ASX-listed lithium developer with the Kathleen Valley hard-rock lithium project in WA. Comparable as a critical minerals explorer/developer in Western Australia with overlap on lithium commodity exposure; represents a more advanced development-stage peer.
• Latin Resources: ASX-listed critical minerals explorer with lithium projects in Australia and South America. Comparable as a diversified explorer with lithium exposure in prospective regions; represents a similar pre-development stage on a shared commodity theme.
• Sunstone Metals: ASX-listed gold and copper explorer with projects in Ecuador and Australia. Comparable as a multi-commodity junior explorer with diversified project portfolio; offers insight into how explorers with similar diversified surfaces are valued.
• Accelerate Resources: ASX-listed junior explorer with gold, base metals, and lithium projects in Western Australia. Comparable as a small-cap WA-focused explorer with diversified commodity exposure and pre-resource drilling-stage profile.

Broad incumbents

• Pilbara Minerals: Large-cap ASX-listed lithium hard-rock producer operating the Pilgangoora project in WA's Pilbara. Comparable as a Western Australian critical minerals operator with lithium focus; provides a benchmark for what a production-stage peer looks like within the same jurisdiction and commodity theme.
• Ramelius Resources: Mid-tier ASX-listed gold producer with operations in Western Australia and other Australian jurisdictions. Comparable as an Australian gold-focused operator with WA exposure; represents a more advanced gold-sector comparable to Trek Metals' gold exploration assets.

Regional players

• De Grey Mining: ASX-listed gold explorer with the Hemi discovery in Western Australia's Pilbara region. Comparable as a WA-focused gold explorer; provides a benchmark for exploration-stage gold re-rating within Trek Metals' gold exploration portfolio.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/trek-metals-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trek Metals