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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.031 0.001 (3.33%)+
Announcement
Release
30 Apr 2026 4:54PM
Price at Release
$0.030
Full Release
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Summary
Magmatic Resources Limited reported its quarterly activities ending 31 March 2026, highlighting a net cash outflow from operating activities of $205,000 and positive cash flow from investing activities totaling $634,000. The company maintained a cash balance of $6,633,000 at the quarter's end. Exploration activities at the Weebo Gold Project in Western Australia and the Myall Project in New South Wales continued to progress, with notable drilling results from the Ockerburry and Scone Stone prospects. Additionally, Magmatic submitted new exploration license applications for a total area of 115km2, while no licenses were acquired or disposed of during the reporting period.
Key Points
  • Cash flows from operating activities resulted in a net loss of $205,000 for the quarter.
  • Investing activities generated a positive cash flow of $634,000 for the quarter.
  • There was a net cash decrease from financing activities amounting to $23,000.
  • Cash and cash equivalents at the end of the quarter were $6,633,000.
  • Significant drill results were obtained from the Weebo Gold Project, including the Ockerburry and Scone Stone prospects.
  • Exploration programs were advanced at the Myall Project in partnership with FMG Resources.
  • New exploration license applications were submitted covering an area of 115km2.
  • No new licenses were acquired or disposed of during the quarter.
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.