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Cassius Mining Limited (ASX:CMD)

ALERT: Price-sensitive ASX Announcement for CMD
Current share price for CMD : $0.028 -0.009 (-24.32%)+
Announcement
Release
29 Apr 2026 2:56PM
Price at Release
$0.037
Full Release
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Summary
Cassius Mining Limited released its quarterly activities and cash flow report for Q3 FY26, highlighting key developments in its Soalara Limestone Project, ongoing international arbitration with the Government of Ghana seeking over USD 275 million in damages, and new fundraising efforts through secured convertible notes. The company's operations in Madagascar focus on exploiting its limestone resources, while in Tanzania, they maintain exploration licenses for lithium. Financially, the company reported a net cash usage of AUD 348,000 in operations with cash equivalents totaling AUD 942,000 by the end of the quarter.
Key Points
  • Cassius Mining Limited provided their quarterly activities report for Q3 FY26, ending 31 March 2026.
  • Cassius is engaged in discussions with potential joint venture partners for their Soalara Limestone Project in Madagascar.
  • The project has a JORC 2012 Mineral Resource Estimate of 340-440 Mt of high-purity limestone.
  • Cassius initiated a desk-top study for mining and processing options for the Soalara project.
  • The company is involved in international arbitration against the Government of Ghana for damages of over USD 275 million.
  • Cassius filed their full Memorial for the arbitration on 23 December 2024, specifying damages of ~USD 277 million.
  • The arbitration hearing is scheduled for 15-19 June 2026 at the Peace Palace in The Hague.
  • The company has exploration licenses for lithium in Tanzania, covering an area of ~162 km² near Dodoma.
  • Cassius raised $5 million through the issuance of secured convertible notes to fund exploration and legal activities.
  • Quarterly cash flow reports indicate net cash used in operating activities was AUD 348,000 with cash equivalents at quarter end of AUD 942,000.
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.