InvestSMART

Anax Metals Limited (ASX:ANX)

ALERT: Price-sensitive ASX Announcement for ANX
Current share price for ANX : $0.028 0.005 (21.74%)+
Announcement
Release
5 Feb 2026 9:43AM
Price at Release
$0.023
Full Release
download
Summary
Anax Metals Limited is strategically positioned for growth in the first half of 2026, with plans to release an updated Definitive Feasibility Study (DFS) for the Whim Creek Project in February 2026. This update reflects increased metal prices and aims to secure project funding for a final investment decision. Key focuses include optimizing precious metal recoveries, particularly silver, expanding partnerships, enhancing bioleaching and ore sorting technology, and monetizing waste rock. Anax is also pursuing regional consolidation and resource growth, supported by advanced discussions for debt and equity funding.
Key Points
  • Anax Metals Limited plans to release an updated Whim Creek Definitive Feasibility Study (DFS) in February 2026, reflecting current capital and operating costs and metal prices.
  • The 2026 DFS is essential for providing stakeholders with a clear picture of project economics to secure project funding for a final investment decision.
  • Significant increases in metal prices since the 2023 DFS release: copper up 40%, silver up 400%, gold up 270%.
  • Anax is in advanced discussions for debt and/or equity funding, with several indicative offers received.
  • The Whim Creek Project's focus includes optimizing precious metal recoveries, particularly silver.
  • The strategic outlook for the first half of 2026 includes partnership expansion, resource growth at Salt Creek, and exploration on new tenements.
  • Anax is enhancing bioleaching and advanced ore sorting intellectual property focusing on oxide and transitional ores.
  • The company plans to monetize existing waste rock by producing road base and aggregates.
  • Anax aims for regional consolidation to focus on satellite assets with near-term production potential.
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.