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Alice Queen Limited (ASX:AQX)

ALERT: Price-sensitive ASX Announcement for AQX
Current share price for AQX : $0.006 -0.007 (-53.85%)+
Announcement
Release
30 Jan 2026 9:02AM
Price at Release
$0.013
Full Release
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Summary
Alice Queen Limited's quarterly activities report highlights a strategic reassessment of its Horn Island project following a significant rise in gold prices from A$2,450 to approximately A$6,000 per ounce. This increase is expected to enhance the project's valuation, as reflected in the ongoing update of the 2021 Scoping Study. The company, which manages gold exploration projects in Fiji and Australia, has raised capital through a share placement to fund its operations, despite projecting negative cash flows due to the nature of its mining exploration activities. Alice Queen is actively seeking further fundraising options to sustain its exploration endeavors.
Key Points
  • Alice Queen Limited is conducting a strategic assessment of its Horn Island project due to a significant increase in gold prices.
  • The 2021 Scoping Study for Horn Island showed a Net Present Value of A$140 million based on a gold price of A$2,450/oz.
  • Gold price has surged to approximately A$6,000/oz, potentially increasing the project's value substantially.
  • The Scoping Study is being updated with new assumptions and is expected to be completed in the first half of 2026.
  • Alice Queen maintains a portfolio of gold exploration projects in Fiji and Australia.
  • The company raised funds through a placement of shares to assist with ongoing projects.
  • Despite expecting negative operating cash flows, Alice Queen is exploring fundraising options to support its activities.
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.