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Conico Ltd (ASX:CNJ)

ALERT: Price-sensitive ASX Announcement for CNJ
Current share price for CNJ : $0.008 -0.001 (-11.11%)+
Announcement
Release
30 Apr 2026 6:11PM
Price at Release
$0.009
Full Release
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Summary
Conico Ltd's Quarterly Activities Report for the period ending 31 March 2026 highlights the company's focus on the Mt Thirsty Joint Venture, where a Phase 2 drilling program is set to target scandium. The company has completed a corporate restructure, including a fully underwritten entitlement offer and a subsequent private placement, enhancing its capital position. The cash flow report shows significant financing activities yielding $2,460,000 for the quarter, with cash equivalents rising from $478,000 to $2,691,000. No cash flows from investing activities were recorded, and operating activities resulted in a net outflow of $247,000. Conico's exploration activities include preparations for drilling in Western Australia, with particular emphasis on scandium, a high-value critical mineral. The company is also evaluating additional exploration opportunities and has reported exploration costs of $22,000 for the quarter.
Key Points
  • Phase 2 drilling program planned for Mt Thirsty Joint Venture targeting scandium.
  • Conico completed a corporate restructure and capital raise through an entitlement offer and private placement.
  • Cash equivalents increased to $2,691,000 at the end of the quarter.
  • Net cash from operating activities showed an outflow of $247,000.
  • No cash flows from investing activities were recorded.
  • Exploration costs for the quarter totaled $22,000.
  • The company is well-capitalized to advance exploration plans.
  • Focus on scandium as a critical mineral due to its high market value.
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.