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Mamba Exploration Limited (ASX:M24)

ALERT: Price-sensitive ASX Announcement for M24
Current share price for M24 : $0.018 -0.022 (-55%)+
Announcement
Release
2 Feb 2026 10:06AM
Price at Release
$0.040
Full Release
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Summary
Mamba Exploration Limited has announced the acquisition of a 70% interest in the Meeka East Gold Project, located in the Murchison Goldfield, Western Australia. The project is underexplored but situated in a region known for its high-class gold deposits and mines. This strategic acquisition was made possible through a conditional binding agreement with a cash payment of $200,000 and the issuance of 59,033,122 fully paid ordinary shares, pending shareholder approval. A capital raising initiative has also been launched, raising $2.0 million through the issue of 133,333,333 new shares to support the exploration and development of the Meeka East Gold Project and the company's broader portfolio. The project includes areas such as the 140 Foot Well Prospect and the Bella Prospect, which are part of the Mulga Bill trend. The technical expertise for the exploration is provided by Peter Schwann, who has substantial experience in the region.
Key Points
  • Acquisition of a 70% interest in Meeka East Gold Project
  • Located in the Murchison Goldfield, Western Australia
  • Conditional binding agreement with a $200,000 cash payment
  • 59,033,122 fully paid ordinary shares to be issued
  • Capital raising of $2.0 million through share placement
  • Exploration areas include 140 Foot Well Prospect and Bella Prospect
  • Technical advice from Peter Schwann with extensive regional experience
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.