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Adavale Resources Limited (ASX:ADD)

ALERT: Price-sensitive ASX Announcement for ADD
Current share price for ADD : $0.035 -0.015 (-30%)+
Announcement
Release
31 Oct 2025 4:57PM
Price at Release
$0.050
Full Release
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Summary
Adavale Resources Limited reported significant growth and exploration successes in the quarter ending 30 September 2025. The company completed its maiden drilling campaign at London Victoria Mine, confirming extensions of gold mineralisation and received 100% Native Title Consent for the Marree Uranium Project. Adavale raised approximately $3.1 million and is well-prepared for subsequent drilling phases. During the period, the company used $1,199,000 in operating activities and generated $2,948,000 from financing activities, ending the quarter with $1,948,000 in cash reserves. Key exploration activities included ground magnetics and IP surveys at the Ashes-Myalls prospect. Additionally, David Ward was appointed as Managing Director to further advance the flagship Parkes Gold Copper Project.
Key Points
  • Adavale Resources completed a transformative quarter with significant exploration achievements.
  • The company secured approximately $3.1 million in funding.
  • Drilling at London Victoria Mine confirmed extensions of gold mineralisation.
  • Adavale received 100% Native Title Consent for the Marree Uranium Project.
  • The company is well-funded for second-phase drilling in Q4 CY2025.
  • Net cash used in operating activities was $1,199,000.
  • Net cash from financing activities amounted to $2,948,000.
  • Cash and cash equivalents at the end of the period were $1,948,000.
  • Exploration activities include ground magnetics and IP surveys at the Ashes-Myalls prospect.
  • Adavale announced the appointment of David Ward as Managing Director.
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.