InvestSMART

Leeuwin Metals Ltd (ASX:LM1)

ALERT: Price-sensitive ASX Announcement for LM1
Current share price for LM1 : $0.220 0.035 (18.92%)+
Announcement
Release
29 Apr 2025 4:51PM
Price at Release
$0.185
Full Release
download
Summary
Leeuwin Metals Ltd (ASX: LM1) reported a transformative quarter, completing the acquisition of the Marda Gold Project in Western Australia and initiating its exploration strategy, which included the first drilling program. The company is optimistic about the high-grade, under-explored gold system, anticipating significant near-term upside. With a strong balance sheet, Leeuwin is entering an active growth phase as it proceeds with a strategic drilling program and capital raising efforts.
Key Points
  • Leeuwin completed the transformative acquisition of the Marda Gold Project.
  • First drilling program initiated at Marda Gold Project with assays pending.
  • Marda is an advanced gold project with historical open pits and significant resource potential.
  • The company raised $3.25 million through a two-tranche placement.
  • A comprehensive review confirmed high-grade, unmined intercepts over a 3km corridor.
  • Field planning maintained for Canadian lithium and nickel projects.
  • Shareholder approvals completed to finalize the Marda acquisition.
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.