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Accelerate Resources Limited (ASX:AX8)

ALERT: Price-sensitive ASX Announcement for AX8
Current share price for AX8 : $0.005 0 (0%)+
Announcement
Release
28 Jul 2026 9:13AM
Price at Release
$0.005
Full Release
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Summary
Accelerate Resources Limited provided a quarterly activities report for the period ending 30 June 2026, highlighting a new gold discovery at the Balagundi Gold Project and significant advancements at the Woodie Woodie North Manganese Project. The company completed a $2.0 million capital raising and executed strategic project expansions and divestments. Financial activities included a negative cash flow from operations due to exploration costs, but positive financing cash flow from capital raising efforts.
Key Points
  • New discovery at Spencers with significant gold intersections from aircore drilling.
  • First drilling at Fluffy in 30 years yielded strong shallow gold results.
  • Maiden RC drill program completed at Spencers with pending assay results.
  • Project expansion through Maritana Minerals agreement; divestment of Kanowna East Project.
  • High-resolution gravity survey completed at Woodie Woodie North.
  • Preparations for resource extension and discovery drilling at Woodie Woodie North.
  • $2.0 million capital raising completed with amounts settled in tranches.
  • Net cash from operating activities was negative, primarily due to exploration expenses.
  • Net cash from investing activities was negative due to acquisition and exploration costs.
  • Net cash from financing activities was positive due to 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.