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Heavy Minerals Limited (ASX:HVY)

ALERT: Price-sensitive ASX Announcement for HVY
Current share price for HVY : $0.360 -0.17 (-32.08%)+
Announcement
Release
30 Apr 2026 7:01PM
Price at Release
$0.530
Full Release
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Summary
Heavy Minerals Limited has reported significant progress in its March 2026 quarterly activities. The company executed a Tailings Processing Agreement with Hillgrove Resources Limited for the Kanmantoo project, announced a maiden Exploration Target for garnet content in Kanmantoo tailings, and received firm designs for a garnet processing plant. The Port Gregory project's Pre-Feasibility Study is in final review. Ongoing funding discussions aim to support construction at Kanmantoo and Port Gregory. Financially, the company drew $542,000 from existing facilities, closing the quarter with $46,000 in cash and funding for an estimated 3.5 quarters.
Key Points
  • Heavy Minerals Limited executed a Tailings Processing Agreement with Hillgrove Resources Limited for the Kanmantoo project.
  • A maiden Exploration Target was announced for garnet content within Kanmantoo tailings.
  • Firm pricing and designs were received for a 50,000 tonne per annum garnet processing plant.
  • The Port Gregory Pre-Feasibility Study is in the final review stage.
  • Project-build funding discussions for Kanmantoo and Port Gregory are ongoing.
  • The company has continued to draw working capital from existing facilities, including a royalty programme and an At-the-Market facility.
  • Net cash from financing activities during the quarter was $542,000.
  • The company ended the quarter with $46,000 in cash and an estimated 3.5 quarters of funding available.
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.