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Bayan Mining and Minerals Limited (ASX:BMM)

ALERT: Price-sensitive ASX Announcement for BMM
Current share price for BMM : $0.065 -0.019 (-22.62%)+
Announcement
Release
28 Apr 2026 8:20AM
Price at Release
$0.084
Full Release
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Summary
Bayan Mining and Minerals Limited's March 2026 Quarterly Activities Report highlights significant progress in their exploration activities, particularly in the Desert Star and Bayan Springs projects. Notable achievements include high-grade rare earth element results from Desert Star Phase 2 surface sampling, with standout results showing up to 91,092 ppm TREO. The company has secured all necessary permits for drilling at Desert Star and has expanded their land holdings at Bayan Springs South by staking 13 additional claims. Financially, the company reported net cash used in operating and investing activities, with proceeds from financing activities bolstering their cash position. Key appointments and strategic memberships, such as joining the U.S. Defense Industrial Base Consortium, further strengthen their development and exploration capabilities.
Key Points
  • High-grade REE results from Desert Star Phase 2.
  • Desert Star is drill-ready with all permits approved.
  • Strategic land expansion at Bayan Springs South.
  • Engagement of a former Barrick Gold District Geologist.
  • 3,000m diamond drilling program designed for Bayan Springs South.
  • Joining the U.S. Defense Industrial Base Consortium.
  • Appointment of Nathan Kong as CEO.
  • Net cash used in operating activities: $(196)K for the quarter.
  • Net cash used in investing activities: $(472)K for the quarter.
  • Net cash from financing activities: $3,933K year to date.
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.