InvestSMART

Minerals Exploration Limited (ASX:MEX)

ALERT: Price-sensitive ASX Announcement for MEX
Current share price for MEX : $0.062 -0.163 (-72.44%)+
Announcement
Release
28 Jan 2026 11:09AM
Price at Release
$0.225
Full Release
download
Summary
Minerals Exploration Limited (MEX) reported its quarterly activities and cash flow for the quarter ended 31 December 2025. The company commenced a maiden 3,000m diamond drilling program at the Waitekauri Gold Project in New Zealand, targeting high-grade gold zones at the Jubilee mine. The project is located near OceanaGold’s WKP deposit. MEX also announced new rock chip sampling results from its Waitekauri and Oturehua gold projects, indicating high-grade mineralization. Financially, MEX reported net cash outflows from operating activities of $414,000 and investing activities of $412,000 for the quarter. The company also successfully completed a dual listing on the NZX Main Board Market and held $4.5 million in cash at the end of the quarter.
Key Points
  • Commenced maiden 3,000m diamond drilling at Waitekauri Gold Project.
  • Targeting high-grade zones at Jubilee mine near OceanaGold’s WKP.
  • New rock chip sampling indicates high-grade mineralization at Waitekauri and Oturehua.
  • Net cash outflows: $414,000 from operations, $412,000 from investing.
  • Successful dual listing on the NZX Main Board.
  • Held $4.5 million in cash at quarter-end.
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.