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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.027 -0.028 (-50.91%)+
Announcement
Release
30 Jan 2026 9:12AM
Price at Release
$0.055
Full Release
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Summary
Magmatic Resources Limited reports on their quarterly activities and financials as of December 31, 2025. The company has been actively involved in exploration activities, notably at the Myall Copper-Gold Project in New South Wales, in collaboration with FMG Resources Pty Ltd. They have completed a 25-hole aircore drilling program and commenced a diamond drilling program. Significant funds have been allocated for exploration projects, and they have received contributions from joint venture partners. The company reported net cash inflows from financing activities primarily due to equity issues, ending the quarter with cash and equivalents of A$6.2 million. These activities reflect Magmatic's focus on advancing its copper-gold projects in key Australian mineral regions.
Key Points
  • A$3.5 million exploration budget for Myall Project with Fortescue.
  • Completion of 25-hole aircore drilling program at Myall Project.
  • Commencement of a 14-hole, 5,000-metre diamond drilling program.
  • Cash position at end of quarter at A$6.2 million.
  • Firm commitments for A$3.0 million placement.
  • Significant focus on Northparkes-style copper-gold porphyry deposits.
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.