InvestSMART

Conico Ltd (ASX:CNJ)

ALERT: Price-sensitive ASX Announcement for CNJ
Current share price for CNJ : $0.010 -0.001 (-9.09%)+
Announcement
Release
30 Jan 2026 6:47PM
Price at Release
$0.011
Full Release
download
Summary
Conico Ltd reported on its quarterly activities and cash flow for the period ending 31 December 2025. The company completed a recapitalisation process, with share issues to settle debts and raise funds through a share placement and an underwritten entitlement offer, amassing approximately $2.8 million for exploration and working capital. Notably, Conico is focusing on its Mt Thirsty project in Western Australia, targeting nickel-cobalt-manganese-scandium zones, and exploring further opportunities in Greenland. The company expects to maintain operations and meet business objectives following its successful equity capital raising.
Key Points
  • Conico Ltd completed a recapitalisation to eliminate debt and secure funding.
  • The company raised about $2.8 million through share placement and entitlement offers.
  • Focus areas include Mt Thirsty project in Western Australia and projects in Greenland.
  • No mining production or development activities occurred in the reported quarter.
  • Cash and cash equivalents at the end of the quarter were $478,000.
  • Estimated funding available for less than one quarter, prompting a completed rights issue.
  • Board changes include Guy Le Page as Executive Chairman and Simon Mitchell's appointment.
  • Exploration costs for the quarter included Greenland licence renewals and legal settlements.
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.