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Kingsrose Mining Limited (ASX:KRM)

ALERT: Price-sensitive ASX Announcement for KRM
Current share price for KRM : $0.023 -0.019 (-45.24%)+
Announcement
Release
30 Jul 2025 9:28AM
Price at Release
$0.042
Full Release
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Summary
Kingsrose Mining Limited published its quarterly activities and cash flow report for the period ending 31 March 2023, highlighting ongoing exploration efforts for nickel, copper, and PGE resources in Finland and Norway. Key activities comprised drilling and geophysical programs at the Penikat and Porsanger projects, alongside continued environmental and permitting progress. The company ended the quarter with a strong cash position of approximately AUD 13.0 million, with no production revenue reported as it remains focused on exploration. Cash outflows were dominated by exploration and evaluation expenditures, and standard disclosures regarding related party payments were made in the Appendix 5B section.
Key Points
  • Kingsrose Mining Limited (ASX: KRM) released its quarterly activities and Appendix 5B cash flow report for the period ending 31 March 2023.
  • During the quarter, the company continued to advance its portfolio of nickel, copper, and platinum group element (PGE) exploration projects in Norway and Finland.
  • Significant exploration activities included drilling and geophysical surveys at the Penikat and Porsanger projects, both in Finland and Norway respectively.
  • The Penikat project saw completion of diamond drilling, with assays pending at the time of report.
  • Environmental and permitting work progressed across the project portfolio.
  • Cash outflows for the quarter were primarily attributed to exploration and evaluation activities.
  • At the end of the quarter, Kingsrose had a cash balance of approximately AUD 13.0 million.
  • The company reported that it had no production revenue, reflecting its status as an exploration-focused entity.
  • No mining or production was undertaken during the quarter.
  • No payments were made to related parties or their associates except for directors’ fees and consulting arrangements disclosed in the Appendix 5B.
  • The report includes a summary of cash movements, with net cash used in operating activities primarily relating to exploration and corporate costs.
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.