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Gateway Mining Limited (ASX:GML)

ALERT: Price-sensitive ASX Announcement for GML
Current share price for GML : $0.078 0.027 (52.94%)+
Announcement
Release
31 Jul 2026 5:05PM
Price at Release
$0.051
Full Release
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Summary
Gateway Mining Limited reported a net cash decrease from operating activities of $717,000 for the quarter ending June 30, 2026. The company spent $4.33 million on exploration activities, with a focus on several projects in Western Australia. Despite no major developments in their joint ventures like Edjudina, Gateway maintains a healthy cash position of $10.373 million. Financing activities were bolstered by equity securities issuance, raising $22.5 million. Payments to related parties were $209,000, mainly for director remuneration. The company plans further exploration efforts with targeted drilling programs anticipated before year-end.
Key Points
  • Net cash used in operating activities was $717,000 for the quarter.
  • Exploration expenditure during the quarter was $4.33 million.
  • The company has cash and cash equivalents of $10.373 million at the end of the quarter.
  • No significant work was announced on the Edjudina Joint Venture during the quarter.
  • Payments to related parties amounted to $209,000 for the quarter.
  • The company is planning first-pass, targeted drilling programs before the end of the year.
  • Proceeds from issues of equity securities amounted to $22.5 million.
  • The company is not engaged in any mining production or development activities currently.
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.