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Accent Resources N.L. (ASX:ACS)

ALERT: Price-sensitive ASX Announcement for ACS
Current share price for ACS : $0.190 -0.01 (-5%)+
Announcement
Release
30 Oct 2026 8:24PM
Price at Release
$0.200
Full Release
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Summary
Accent Resources NL’s quarterly activities and Appendix 5B cash flow report for the quarter ended 30 September 2026 highlights continued focus on its Magnetite Range Project (MRP), where independent metallurgical testwork by Central South University and LONGI validated a fully dry processing flowsheet capable of producing high-grade iron concentrates of 66.3% to 68.0% Fe at a 75-micron grind while reducing water use and supporting the ongoing Pre-Feasibility Study; coarse dry magnetic separation also rejected up to 46% barren gangue at 3mm while maintaining magnetic iron recoveries above 97%, and subsequent to quarter end the company began an 11,568-metre RC drilling program comprising 8,568 metres for magnetite resource infill and 3,000 metres for gold targets, with the core magnetite resource unchanged at 523.3Mt at 31.3% Fe. At Norseman, Accent continued no material field activity as it progressed the strategic divestment of the Norseman Gold Project to Boomerang Mining Capital Pty Ltd for up to A$4.0 million cash, including A$3.0 million at settlement and A$1.0 million deferred, while retaining 100% of iron ore and PGE rights and a 4% gross revenue royalty on other minerals, subject to Boomerang’s option to buy half that royalty for A$4.0 million. Financially, the Appendix 5B shows cash and cash equivalents of A$5.505 million at 30 September 2026, net cash used in operating activities of A$1.306 million, net cash from investing activities of A$4.039 million driven by A$4.781 million proceeds from disposal of investments, A$0.923 million exploration expenditure primarily at MRP, A$929,000 in related-party payments, and estimated funding of 2.74 quarters based on relevant outgoings.
Key Points
  • Quarterly report and Appendix 5B cover the quarter ended 30 September 2026.
  • Accent Resources NL remained focused on the Magnetite Range Project during the quarter.
  • Independent testwork by CSU and LONGI validated a dry processing flowsheet for MRP.
  • Dry processing testwork produced final iron concentrates grading 66.3% to 68.0% Fe at a 75-micron grind size.
  • Coarse dry magnetic separation rejected up to 46% barren gangue while maintaining magnetic iron recoveries above 97%.
  • The dry processing results support integration into the ongoing Pre-Feasibility Study.
  • After quarter end, Accent commenced an 11,568-metre RC drilling program at Magnetite Range.
  • The drilling program includes 8,568 metres for magnetite infill drilling and 3,000 metres for gold exploration.
  • The Magnetite Range mineral resource remained unchanged at 523.3Mt at 31.3% Fe.
  • Accent progressed the divestment of the Norseman Gold Project to Boomerang Mining Capital Pty Ltd.
  • The Norseman sale is for up to A$4.0 million in cash, with A$3.0 million payable at settlement and A$1.0 million deferred.
  • Accent retains 100% of iron ore and PGE rights across the Norseman tenements.
  • Accent also retains a 4% gross revenue royalty on non-iron ore and non-PGE minerals at Norseman.
  • No material exploration or field development activity was undertaken at Norseman during the quarter.
  • Cash and cash equivalents at 30 September 2026 were A$5.505 million.
  • Net cash used in operating activities was A$1.306 million for the quarter.
  • Net cash from investing activities was A$4.039 million, including A$4.781 million proceeds from disposal of investments.
  • Exploration expenditure for the quarter was A$0.923 million, mainly related to MRP.
  • Payments to related parties and their associates totalled A$929,000.
  • The Appendix 5B disclosed estimated funding of 2.74 quarters based on current relevant outgoings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.