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CGN Resources Limited (ASX:CGR)

ALERT: Price-sensitive ASX Announcement for CGR
Current share price for CGR : $0.059 -0.011 (-15.71%)+
Announcement
Release
24 Apr 2026 9:08AM
Price at Release
$0.070
Full Release
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Summary
CGN Resources Limited reported its Quarterly Activities and Appendix 5B Cash Flow Report for the quarter ending 31 March 2026. The company has made significant progress in its Western Australian projects, particularly in the Leonora district where it finalized the acquisition of the Desdemona Project from Patronus Resources Ltd. This acquisition expands CGN's holdings and exploration targets significantly. The Leonora Gold Projects, comprising the Christmas Well and Panhandle projects, are strategically located along key gold-mineralized corridors, with multiple high-priority drilling targets identified. CGN is gearing up for an active 2026 with secured funding supporting planned exploration and drilling activities. The company reported a strong cash position of approximately A$2.5 million by the end of the quarter, despite a net outflow from operating activities. Key financial activities during the quarter included payments for exploration, staff, and corporate costs.
Key Points
  • Quarterly Activities Report for CGN Resources Limited.
  • Acquisition of Desdemona Project from Patronus Resources Ltd completed.
  • Strategic expansion in Leonora district with new exploration targets.
  • Strong cash position at approximately A$2.5 million.
  • High-priority drilling targets identified in Leonora Gold Projects.
  • Net cash used in operating activities reported.
  • Preparations for significant exploration and drilling activities in 2026.
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.