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Middle Island Resources Limited (ASX:MDI)

ALERT: Price-sensitive ASX Announcement for MDI
Current share price for MDI : $0.015 -0.009 (-37.50%)+
Announcement
Release
29 Apr 2026 8:20AM
Price at Release
$0.024
Full Release
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Summary
Middle Island Resources Limited, an ASX-listed company, reported on its activities and cashflow for the quarter ending March 31, 2026. The company completed a Phase 2 drilling program at its Bobija Project in Serbia, revealing significant mineralization. The report highlighted positive soil sampling results at the Tisovik and Priboj projects, showing potential for gold and copper deposits. Middle Island is expanding its exploration capabilities with team and infrastructure enhancements. Financially, the company reported a net operating cash outflow of $594,000, with a cash balance of $3.89 million at the quarter's end. Key appointments include Ms. Sanela Karic as Non-Executive Director and Peter Harding-Smith as CFO.
Key Points
  • Completed Phase 2 drilling at Bobija Project with significant mineralization findings.
  • Soil sampling at Tisovik and Priboj projects indicates potential for gold and copper.
  • Expansion of exploration capabilities with additional personnel and infrastructure.
  • Net operating cash outflow of $594,000 for the quarter.
  • Cash balance of $3.89 million at the end of the quarter.
  • Appointment of Ms. Sanela Karic as Non-Executive Director.
  • Appointment of Peter Harding-Smith as Chief Financial Officer.
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.