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American Uranium Limited (ASX:AMU)

ALERT: Price-sensitive ASX Announcement for AMU
Current share price for AMU : $0.068 -0.003 (-4.23%)+
Announcement
Release
28 Jul 2026 8:33AM
Price at Release
$0.071
Full Release
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Summary
During the June quarter of 2026, American Uranium Limited made significant strides in advancing its Lo Herma ISR uranium project in Wyoming. The company completed a substantial A$2.64 million Placement to fund ongoing projects, while also closing a non-renounceable Entitlement Offer. Drilling programs focused on increasing resource classification from Inferred to Indicated, resulting in an updated Mineral Resource Estimate of 9.45 Mlbs eU3O8. Preparations for extensive hydrogeological testing were also advanced, supporting future development studies. Despite a net cash deficit from operating activities due to exploration costs, American Uranium Limited continued to secure mineral rights and expand its resource base.
Key Points
  • Completed A$2.64 million Placement of 22.0 million shares to finance drilling, permitting, and studies.
  • Progressed a non-renounceable Entitlement Offer, closing with gross proceeds of A$100,374.
  • Focused drilling at Lo Herma ISR Project, converting resources from Inferred to Indicated classification.
  • Mineral Resource Estimate at Lo Herma updated to 9.45 Mlbs eU3O8.
  • Hydrogeological preparations for a large-scale pump testing program at Mine Unit 1.
  • Continued land consolidation and acquisition of uranium mineral rights around mine areas.
  • Cash flow from operating activities resulted in a deficit due to exploration expenditures.
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.