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Golden State Mining Limited (ASX:GSM)

ALERT: Price-sensitive ASX Announcement for GSM
Current share price for GSM : $0.012 0 (0%)+
Announcement
Release
28 Jul 2026 8:21AM
Price at Release
$0.012
Full Release
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Summary
Golden State Mining Limited (GSM) continues its exploration activities at the Yule and Southern Cross East Projects in Western Australia, with new mining tenements granted at Southern Cross East after the June 2026 quarter. The company is strategically focusing on maintaining fiscal discipline while exploring new mining opportunities, particularly near established deposits like Northern Star's Hemi Gold Deposit. Financially, GSM reported net operating cash outflows of $196,000, with financing activities bringing in $1,488,000, ending the quarter with $1,108,000 in cash and an estimated 5.7 quarters of funding availability.
Key Points
  • Golden State Mining Limited continues exploration at Yule and Southern Cross East Projects.
  • New mining tenements at Southern Cross East were granted post the end of the June 2026 quarter.
  • The Yule Project is near Northern Star's Hemi Gold Deposit.
  • The company is actively searching for new exploration and mining opportunities.
  • Net cash from operating activities for the quarter was -$196,000.
  • Financing activities generated $1,488,000 during the quarter.
  • Cash at the end of the period was $1,108,000.
  • Estimated 5.7 quarters of funding available based on current cash flow.
  • Company maintains fiscal discipline while pursuing new projects.
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.