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Anax Metals Limited (ASX:ANX)

ALERT: Price-sensitive ASX Announcement for ANX
Current share price for ANX : $0.031 0.001 (3.33%)+
Announcement
Release
30 Jul 2026 9:16AM
Price at Release
$0.030
Full Release
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Summary
Anax Metals Limited's June 2026 Quarterly Activities Report highlights the completion of a $4.8 million placement as part of a $10 million capital raise, alongside an additional $6.0 million placement to support exploration and project development at Whim Creek. The company received indicative debt funding offers for up to US$40 million for its Whim Creek interest. Key appointments include Nick Jolly as Non-Executive Director and Danny George as COO. An 18-hole drilling program commenced, and engineering progressed with FEED initiation. Anax ended the quarter with $11.15M in cash, while net cash from operating and investing activities was negative, offset by proceeds from equity securities.
Key Points
  • Completion of $4.8 million Tranche 2 of the March 2026 placement, completing a $10 million capital raise.
  • An additional $6.0 million placement completed to fund exploration and project development.
  • Nick Jolly appointed as Non-Executive Director and Danny George as Chief Operating Officer for Whim Creek Project.
  • Indicative offers for up to US$40 million of debt funding received for Anax’s 80% interest in Whim Creek.
  • Commencement of an 18-hole, 5,000m Phase 1 diamond drilling program at Mons Cupri.
  • Project engineering progress and commencement of Front-End Engineering Design (FEED).
  • Available cash of $11.15 million as of 30 June 2026.
  • Net cash used in operating activities was $846,000 and in investing activities was $887,000 for the quarter.
  • Proceeds from issues of equity securities amounted to $10,813,000, with net cash from financing activities totaling $10,459,000.
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.