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Australian Mines Limited (ASX:AUZ)

ALERT: Price-sensitive ASX Announcement for AUZ
Current share price for AUZ : $0.022 0.005 (29.41%)+
Announcement
Release
31 Oct 2025 12:16PM
Price at Release
$0.017
Full Release
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Summary
Australian Mines Limited's quarterly activities report for the period ended 30 September 2025 highlights significant advancements and financial activities. The company has been focusing on the Boa Vista Gold Project in Brazil, executing an earn-in to acquire up to 80% of the project. The quarter saw the completion of LiDAR and drone magnetic surveys, leading to the discovery of a high-grade zone, Biota Zone. The Flemington Scandium Project in NSW also progressed with a 1,000-meter auger program. Capital raising activities during the quarter included a $2.5 million placement to fund exploration. In terms of financials, Australian Mines reported a decrease in cash used for operating activities due to high payments for administration costs. A subsequent $4 million was raised post-quarter for further exploration funding. The cash position at the end of the quarter was $2.433 million, with an estimated 1.85 quarters of funding available.
Key Points
  • Completion of LiDAR and drone magnetic surveys at Boa Vista.
  • Discovery of Biota Zone, a high-grade gold area.
  • Progress on Flemington Scandium Project with a 1,000m auger program.
  • Raised $2.5 million for exploration funding.
  • Post-quarter $4 million raised for future activities.
  • Cash position of $2.433 million at quarter-end.
  • Estimated 1.85 quarters of funding available.
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.