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Advance Metals Limited (ASX:AVM)

ALERT: Price-sensitive ASX Announcement for AVM
Current share price for AVM : $0.047 -0.017 (-26.56%)+
Announcement
Release
27 Jul 2026 8:30AM
Price at Release
$0.064
Full Release
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Summary
Advance Metals Limited (ASX: AVM), a company focused on high-grade precious metals projects in Mexico and Australia, reported significant progress during the quarter ending 30 June 2026. Key highlights include the commencement of a maiden diamond drilling program at the Gavilanes Silver Project in Mexico, which yielded high-grade silver intersections supporting the potential for a JORC Mineral Resource upgrade. The company is nearing 100% ownership of the Myrtleford and Beaufort Gold Projects in Victoria, Australia, via an amended agreement. Initial gold testwork at Happy Valley demonstrated high recovery rates, indicating potential for low-cost processing. Financially, Advance Metals reported a cash balance of $4.326 million at the end of the quarter, with plans to continue exploration activities. The company is exploring capital-raising options to support ongoing operations.
Key Points
  • Commenced maiden diamond drilling at Gavilanes Silver Project in Mexico.
  • Significant high-grade silver intersections found, supporting resource upgrades.
  • Moving toward 100% ownership of Myrtleford and Beaufort Gold Projects.
  • Initial gravity recoverable gold testwork at Happy Valley shows promising results.
  • Reported cash balance of $4.326 million at quarter-end.
  • Plans for further exploration and potential capital raising.
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.