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Australian Mines Limited (ASX:AUZ)

ALERT: Price-sensitive ASX Announcement for AUZ
Current share price for AUZ : $0.024 -0.003 (-11.11%)+
Announcement
Release
30 Apr 2026 3:10PM
Price at Release
$0.027
Full Release
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Summary
Australian Mines Limited, operating under ASX code AUZ, released its quarterly activities and cash flow report for the period ending 31 March 2026. Significant exploration activities were undertaken at the Boa Vista Gold Project in Brazil and the Flemington project in New South Wales, showing promising results. The company's net cash usage from operating activities was $498,000, with additional outflows for investing activities totaling $584,000. A substantial inflow of $6,018,000 from financing activities strengthened the cash position to $3,720,000 at the end of the quarter. This cash position is expected to support operations for approximately 3.67 quarters, as the company plans to control expenditure and consider further capital raising to meet its objectives.
Key Points
  • Australian Mines Limited reported its Quarterly Activities and Cash Flow for the quarter ended 31 March 2026.
  • The company has undertaken significant exploration activity at the Boa Vista Gold Project in Brazil, with promising drilling results indicating potential resource expansion.
  • The Flemington project in New South Wales showed high-grade scandium-nickel-cobalt core from the 2025 drilling campaign.
  • Net cash used in operating activities was reported as $498,000 for the quarter.
  • Investing activities resulted in a cash outflow of $584,000, primarily for exploration and evaluation purposes.
  • Financing activities provided an inflow of $6,018,000, boosting the company's cash position.
  • Cash and cash equivalents at the end of the reporting period were $3,720,000, indicating funding availability for approximately 3.67 quarters.
  • The company intends to continue its operations and meet its business objectives by controlling expenditure and potentially raising further capital.
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.