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Desert Metals Limited (ASX:DM1)

ALERT: Price-sensitive ASX Announcement for DM1
Current share price for DM1 : $0.008 0.001 (7.14%)+
Announcement
Release
30 Jul 2026 12:44PM
Price at Release
$0.007
Full Release
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Summary
Desert Metals Limited (ASX: DM1) reported its quarterly activities and cash flow for the period ending 30 June 2026. The company focused on exploration activities in Côte d'Ivoire, including significant progress at the Adzope and Tengrela South projects. The Adzope Permit yielded a major gold-in-soil anomaly, and further drilling is planned. The Tengrela South Permit extended the Tiogo gold corridor. Financially, Desert Metals raised $325,377 through a fully underwritten Entitlement Offer. Cash flow activities highlighted a net decrease in cash due to operating and investing activities, with an end-of-quarter cash balance of $398,000. The company is exploring funding options for future activities and remains optimistic about meeting its business objectives.
Key Points
  • Significant gold-in-soil anomaly at the Adzope Permit.
  • Extended Tiogo gold corridor at Tengrela South.
  • Raised $325,377 from an Entitlement Offer.
  • Exploration focus in Côte d'Ivoire.
  • Net cash decrease due to operations and investments.
  • Cash balance of $398,000 at quarter end.
  • Plans to secure further funding for exploration.
  • 80% interest in key projects in Côte d'Ivoire.
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.