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European Resources Limited (ASX:ERE)

ALERT: Price-sensitive ASX Announcement for ERE
Current share price for ERE : $0.014 -0.001 (-6.67%)+
Announcement
Release
17 Jul 2026 11:27AM
Price at Release
$0.015
Full Release
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Summary
European Resources Limited reported several key developments for the quarter ending June 2026. The company achieved a net cash inflow of $2,323,000 from financing activities and concluded the quarter with cash and cash equivalents of $1,759,000. The Korsnäs project in Finland saw significant progress with metallurgical, geophysical, and resource definition advancements, resulting in an updated Inferred Mineral Resource of 15.4 million tonnes at 1.00% TREO. The company also raised $2,571,045 through a renounceable rights issue, indicating a strong focus on financing its operational and exploration endeavors.
Key Points
  • European Resources Limited reported a net cash inflow of $2,323,000 from financing activities in the current quarter.
  • The company's exploration and evaluation payments totaled $338,000 during the quarter.
  • Net cash used in operating activities was $374,000.
  • Cash and cash equivalents at the end of the period were $1,759,000.
  • The Korsnäs project in Finland saw significant advances in metallurgy, geophysics, and resource definition.
  • An Inferred Mineral Resource of 15.4 million tonnes at 1.00% TREO was reported at Korsnäs.
  • The company completed a renounceable rights issue raising $2,571,045.
  • Metallurgical test work points to a more coherent process route for the Korsnäs project.
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.