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Lachlan Star Limited (ASX:LSA)

ALERT: Price-sensitive ASX Announcement for LSA
Current share price for LSA : $0.155 -0.05 (-24.39%)+
Announcement
Release
21 Apr 2026 8:38AM
Price at Release
$0.205
Full Release
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Summary
Lachlan Star Limited's quarterly activities report for the period ending 31 March 2026 highlights the acquisition of a 90% interest in the New Waverley Gold Project, located in the Norseman mining district of Western Australia. The company commenced a maiden diamond drill program targeting high-grade gold zones in the Waverley and Trial Pits and raised $7.47 million to support its exploration activities. Despite no mining production or development activities taking place during the quarter, the company reported a cash reserve of $531,000. Key financial activities included operating, investing, and financing cash flows, as well as payments to related parties.
Key Points
  • Lachlan Star Limited secured a 90% interest in the New Waverley Gold Project in Western Australia.
  • The New Waverley Project is situated in the Norseman mining district, known for its high-grade gold potential.
  • A maiden diamond drill program commenced to explore the high-priority positions in the Waverley and Trial Pits.
  • The company raised $7.47 million through a two-tranche placement to fund the exploration programs.
  • There were no mining production and development activities during the quarter.
  • The company's cash and cash equivalents at the end of the period were $531,000.
  • The report includes a cash flow statement detailing operating, investing, and financing activities for the quarter.
  • The company made payments to related parties amounting to $30,000 during the quarter.
  • The acquisition of New Waverley was completed for $150,000 in cash and 12.5 million fully-paid ordinary shares.
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.