500 Tenement Changes in 5 Weeks: What’s Really Happening in Western Australia’s Exploration Scene - October 2025 Analysis

The Western Australian exploration scene is in constant motion. Every week, hundreds of tenements are applied for, granted, or surrendered, creating a complex and dynamic puzzle. For explorers, investors, and service providers, staying ahead of these shifts isn't just an advantage—it's essential for survival and success.

Simply tracking the number of new tenements is a rookie mistake. The real intelligence lies deeper: Where is the "smart money" moving? Who is consolidating ground? And which areas are becoming battlegrounds for resources?

Over the past five weeks, we've gone deep on nearly 500 tenement changes across WA to separate the signal from the noise. Our full intelligence brief reveals the critical trends that will shape the next quarter of exploration in the state.

Sign up to unlock the complete analysis, including:

• The Top 15 Weighted Hotspots: Discover where multiple players are converging—a powerful indicator of genuine geological potential.
• Key Player Strategies: See our breakdown of the "Aggressive Peggers," "Project Builders," and "Tactical Acquirers" you need to be watching.
• The Battleground Map: Pinpoint the exact cells where competition is fiercest, with 4, 5, or even more companies vying for the same ground.
• The Interactive Intelligence Map: An exclusive tool that lets you explore all this data for yourself, zoom into clusters, and see the tenement-level detail.

Unlock the Full Intelligence Brief

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Throughout this analysis, we'll guide you on how to use the map to see these insights for yourself.

How to Use the Interactive Intelligence Map

Our map is designed to be intuitive. It layers different analytical outputs to tell a clear story. Before we dive into the findings, here’s a quick guide to the key layers you can toggle:

• Weighted Hotspot Grid: This is your primary view. The grid cells are colored based on a smart score that considers tenement area, holder diversity, and tenement type. Brighter, redder cells indicate higher-value activity.
• Pegging Clusters (Magenta): These shapes highlight dense, geographically related pegging rushes. A magenta cluster indicates a true ground rush is underway.
• Competition Zones (Red/Orange outlines): We've specifically flagged grid cells where 3 or more different companies are active. These are areas of direct competition and high geological interest.
• New Tenements: This is the raw data. Toggle this on when you zoom in to see the exact tenement boundaries and click on them for more details.

Now, let's explore what the data and the map are telling us.

1. The Real Hotspots: Where Multiple Players are Converging

A single company pegging a vast area can be significant, but when multiple, unrelated entities rush to a specific 10km² grid cell, it’s a powerful indicator of geological potential. Our weighted hotspot analysis prioritizes these areas.

The number one hotspot is a prime example: a small 60-hectare area where five different holders have recently secured ground. This isn't a consolidation play; it's a competitive convergence.

2. The Movers and Shakers: Identifying Player Strategies

Who is pegging ground and, more importantly, how are they doing it? By profiling the activity of the most active holders, we can classify their strategies.

Darren Michael McAulay has been identified as an Aggressive Pegger, acquiring 33 tenements covering over 4,553 hectares. In contrast, players like FMG Pilbara and Leo Glenn Fleming are acting as Project Builders, strategically adding to their portfolios.

3. The Battlegrounds: Mapping WA's Most Competitive Zones

Where are claim lines overlapping and competition is fiercest? We identified 14 distinct grid cells where three or more different companies acquired ground.

The most competitive zone we found (Cell #9907) is a hive of activity, with five separate companies vying for position, including Wildcat Resources and Lithium Resources Investments.

Deep Dive: WA's Most Competitive Cell (#9907)

Five holders have taken a position here in the last 5 weeks:

• AMERY HOLDINGS PTY LTD
• BUTCHERBIRD OPERATIONS PTY LTD
• LITHIUM RESOURCES INVESTMENTS PTY LTD
• MINING EQUITIES PTY LTD
• WILDCAT RESOURCES LIMITED

4. Reading the Trends: Exploration vs. Prospecting Licences

The type of tenement being acquired tells its own story. While Exploration Licences (E-lics) were the most numerous (55% of new tenements), they only accounted for 14% of the total new area.

The big story is in Prospecting Licences (P-lics). While fewer in number, they accounted for a massive 41% of the total area pegged. This indicates serious capital being deployed on targeted, near-surface prospecting.

Actionable Intelligence: Red Flags & Green Lights

So, what does this all mean for you?

🚩 Red Flags (Areas to Watch)

• Aggressive Pegging: The activity by Darren Michael McAulay warrants a close look on the map. Find the clusters where his tenements are located to understand the geographic focus of this major play.
• High Competition Zones: Use the 'Competition Zones' layer as your guide. If you hold ground near a red or orange outlined cell, be prepared for increased activity and competition.

💎 Opportunities (Worth Investigating)

• Project Progression: Pay attention to companies like FMG Pilbara and Leo Glenn Fleming. Find their tenements on the map to see where they are building out their project pipeline, often a sign of a well-funded, technically driven strategy.

Conclusion: Your Guide to the Next Play

The last five weeks have painted a clear picture: the most valuable intelligence isn't found in raw counts but in layered, weighted analysis. By combining this data with a powerful visualization tool like our Intelligence Map, you can move beyond spreadsheets and see the story of WA exploration unfold geographically.

The WA exploration sector remains vibrant and competitive. Use this map as your starting point. Zoom into the red flags, investigate the opportunities, and position yourself to navigate the risks and seize the opportunities that lie ahead.

From Analysis to Action: Your Strategic Edge

The intelligence in this post is a glimpse of what's possible when you connect the dots across the entire exploration landscape. But what if you could apply this level of analysis to your specific targets, commodities, and competitive environment, instantly?

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If you are serious about asset acquisition or project generation, let's talk. We can provide a predictive picture of any asset, from its corporate context to its hidden geological potential.