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Javelin Minerals Limited (ASX:JAV)

ALERT: Price-sensitive ASX Announcement for JAV
Current share price for JAV : $0.083 -0.003 (-3.49%)+
Announcement
Release
14 Oct 2026 11:39AM
Price at Release
$0.086
Full Release
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Summary
Javelin Minerals Limited’s quarterly activities and Appendix 5B cash flow report for the quarter ended 30 September 2026 focused on a proposed all-scrip off-market takeover by FirstAU Limited that would combine Javelin’s Eureka and Coogee projects with FirstAU’s Eastern Goldfields assets, with Javelin shareholders to receive 0.5882 FirstAU shares per Javelin share on a post-consolidation basis, implying 11.18 cents per share and about $47 million fully diluted value, and the offer period scheduled from 30 October to 30 November 2026 subject to conditions including 50.1% minimum acceptance; operationally, Javelin received final MDCP approval for the Eureka Gold Project, completing key mining approvals, and RC drilling at Eureka confirmed continuity of shallow mineralisation and extended high-grade mineralisation north of the planned pit, with notable results including 4m at 2.7g/t Au, 4m at 2.3g/t Au, 5m at 2.1g/t Au and 5m at 2.1g/t Au, while deeper drilling tested down-plunge extensions and diamond tails are planned for northern holes; the Eureka Right to Mine Agreement with MEGA Resources was mutually terminated due to limited third-party processing capacity in Kalgoorlie; at Coogee, Javelin progressed geophysical integration on the Coogee South option tenements and commenced a two-hole deep diamond drilling program at Coogee North and Coogee West to test intrusive gold-copper targets, with the Coogee North hole completed after quarter end to 819.9m and assays pending, while Coogee West drilling was still advancing; no material exploration was reported at Central Yilgarn; corporately, Javelin completed Tranche 2 of a $1.5 million strategic placement to David Geraghty, raising $300,000 before costs in August through 3.75 million shares at $0.08 and 15 million attaching unlisted options, held $3.041 million cash at quarter end, recorded net operating cash outflow of $334,000, investing outflow of $839,000 including $851,000 exploration and evaluation spend, financing inflow of $300,000, estimated 2.57 quarters of funding, and disclosed related party payments of $127,000 in total across operating and investing items, with several Coogee tenements surrendered or withdrawn during the quarter.
Key Points
  • Javelin entered a binding Takeover Implementation Deed with FirstAU Limited for a proposed all-scrip off-market takeover of Javelin shares and options.
  • Javelin shareholders would receive 0.5882 FirstAU shares per Javelin share on a post-consolidation basis, implying 11.18 cents per share based on FirstAU’s 13 October 2026 closing price.
  • The proposed transaction would combine Javelin’s Eureka and Coogee projects with FirstAU’s Gimlet and Riverina East projects, with former Javelin shareholders expected to hold about 48.7% of the enlarged group if fully completed.
  • The offer period was scheduled to open on 30 October 2026 and close on 30 November 2026 unless extended or withdrawn.
  • Eureka received final Mining Development and Closure Proposal approval, completing the key regulatory approvals needed for mining to recommence.
  • Eureka RC drilling comprised 37 holes for 5,184 metres and confirmed continuity of shallow mineralisation and extensions of higher-grade mineralisation along strike.
  • Significant Eureka drill results included EKRC036 4m at 2.7g/t Au from 91m, EKRC037 4m at 2.3g/t Au from 52m, EKRC022 5m at 2.1g/t Au from 45m, EKRC019 5m at 2.1g/t Au from 67m and EKRC038 4m at 2.0g/t Au from 64m.
  • Deeper Eureka drilling tested down-plunge extensions, with EKRC011 and EKRC012 left as RC pre-collars for diamond tails and southern holes intersecting the host structure but only low-order gold mineralisation.
  • The Eureka Right to Mine Agreement with MEGA Resources was terminated by mutual agreement due to lack of available third-party ore processing capacity in the Kalgoorlie region.
  • At Coogee, Javelin integrated magnetic and gravity datasets over the Coogee South option tenements to refine interpretation and generate new targets.
  • Javelin commenced a two-hole deep diamond drilling program at Coogee North and Coogee West to test large intrusive gold-copper targets, supported by WA Government EIS co-funding.
  • The Coogee North diamond hole was completed after quarter end to 819.9m, with assays pending and further assessment needed because the modelled magnetic anomaly source was not identified.
  • The Coogee West target was being drilled toward a modelled intrusive body beneath Lake Lefroy sediments.
  • No material exploration activities were reported at the Central Yilgarn Gold Project during the quarter.
  • Tranche 2 of the strategic placement to David Geraghty was completed following shareholder approval, raising $300,000 before costs through 3,750,000 shares at $0.08 and 15,000,000 attaching unlisted options.
  • Cash and cash equivalents at 30 September 2026 were $3.041 million.
  • Appendix 5B reported net cash used in operating activities of $334,000 and net cash used in investing activities of $839,000, with $851,000 spent on exploration and evaluation.
  • Net cash from financing activities was $300,000 for the quarter.
  • Javelin reported estimated funding of 2.57 quarters based on quarter-end cash and relevant outgoings.
  • Payments to related parties totalled $127,000, including $106,000 in operating items and $21,000 in investing items, described in the activities report as director and consulting fees.
  • The company surrendered Coogee tenements E26/0245, E24/0246 and E24/0247 and withdrew applications for E24/0248, E24/0249, E26/0257 and E26/0258 during September 2026.
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.