InvestSMART

Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $1.315 0.555 (73.03%)+
Announcement
Release
29 Jan 2026 4:18PM
Price at Release
$0.760
Full Release
download
Summary
Midas Minerals Ltd reported on its exploration activities during the December 2025 quarter, focusing on the Otavi and South Otavi Copper Projects in Namibia. Significant progress was made, including completion of the acquisition of the 1,776 km² Otavi Copper Project. Initial drilling at the Spaatzu Prospect of the Otavi Project revealed high-grade copper and silver mineralization. The company continues to explore with diamond drilling at the T-13 deposit and plans additional drilling at various targets depending on the wet season. Midas ended the quarter with approximately $8.8M in cash after the Otavi Project acquisition.
Key Points
  • Otavi and South Otavi Copper Projects in Namibia were the focus of exploration activities.
  • High-grade copper and silver mineralization discovered at the Spaatzu Prospect.
  • Completion of the acquisition of the Otavi Copper Project, covering 1,776 km².
  • Ongoing diamond drilling at the T-13 deposit with further drilling plans.
  • Company well-funded with approximately $8.8M in cash post-acquisition.
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.