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IRIS Metals Limited (ASX:IR1)

ALERT: Price-sensitive ASX Announcement for IR1
Current share price for IR1 : $0.048 -0.012 (-20%)+
Announcement
Release
29 Jul 2026 8:34AM
Price at Release
$0.060
Full Release
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Summary
IRIS Metals Limited released their Quarterly Activities and Appendix 5B Cash Flow Report for the period ending 30 June 2026. The report highlights significant progress in their various mining projects, including the Finley Basin Tungsten Project in Montana and the Beecher Lithium-Rubidium Project in South Dakota. There were no cash flows from financing activities during the quarter, and the company's cash balance decreased from $4.6 million to $3.1 million. Exploration and evaluation costs amounted to $0.6 million, while staff and administration costs totaled $0.7 million. The company is planning to change its name to Palisade Metals Limited, subject to shareholder approval, and is relocating its head office from Melbourne to Perth. The report indicates ongoing exploration activities and plans for future drilling programs.
Key Points
  • Quarterly report for period ending 30 June 2026 released.
  • Highlights include ongoing projects in Finley Basin and Beecher.
  • Cash balance decreased from $4.6 million to $3.1 million.
  • No cash flows from financing activities reported.
  • Exploration and evaluation costs were $0.6 million.
  • Staff and administration costs totaled $0.7 million.
  • Company plans to rename to Palisade Metals Limited.
  • Head office relocating from Melbourne to Perth.
  • Future drilling programs planned for exploration sites.
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.