Octava Minerals Limited has reported encouraging results from Stage 1 bioleaching testwork conducted by CSIRO on its Byro rare earth elements (REE) and lithium project. The tests, part of an ongoing exploration effort in Western Australia’s Byro Plains, investigated the potential for extracting high‐value metals from black shale through microbial activity. The study focused on using both native bioleaching microorganisms from samples and a set of nine mixed and pure cultures from the CSIRO biomining collection. Samples included water and various ore fragments collected from two bore holes at different depths, ensuring a comprehensive approach to assess the metal extraction potential. The experimental program was conducted over three enrichment rounds. In the first round, flasks inoculated with the CSIRO mixed culture showed a significant increase in cell numbers, whereas cells obtained directly from the Byro water and ore samples did not exhibit growth. This indicated that native microbial populations were too low to be effectively enriched. In subsequent rounds, the use of additional substrates proved instrumental; cell counts increased from 1.40×10^8 cells/mL to as high as 1.09×10^9 cells/mL in the presence of these nutrients. Moreover, measurements highlighted key technical responses: pH levels decreased under substrate enrichment—suggesting acid generation—and redox potentials rose consistently, accompanied by a decline in ferrous iron concentrations, both indicative of active oxidation processes. By the third round, cell concentrations peaked at up to 2.09×10^9 cells/mL when substrates were added, reinforcing the view that the CSIRO mixed culture adapts well to the Byro samples. The testing data, which also included detailed sampling strategies and controls, supports the decision to advance to Stage 2 of the project. The next phase will evaluate the selected microorganisms’ ability to bioleach not only REE and lithium but also other metals such as zinc, vanadium, rubidium, scandium, and potassium. While forward-looking statements caution about inherent risks and uncertainties, these early indicators have bolstered technical confidence in the bioleaching methodology as part of Octava’s broader portfolio of new energy metals exploration projects. The Byro project is strategically located with access to key infrastructure, including a nearby port, power supply via gas pipeline, and future prospects from government-backed green energy developments. From an investor sentiment perspective, the news holds several bullish elements. The robust performance of CSIRO’s mixed culture, demonstrated through consistent increases in microbial cell counts, effective ferrous oxidation, and acid generation, is a positive indicator of the bioleaching process’s potential to unlock value in challenging ore types. The move into Stage 2 bioleaching trials further signals progress toward establishing a viable extraction method for critical energy metals. On the other hand, bearish concerns remain regarding the early stage of technology development and the inherent challenges in scaling biomining operations. The reliance on laboratory test results means that real-world commercial viability and long-term economic performance remain unproven, and technical uncertainties associated with novel extraction methods could impact future project timelines and cost structures.