InvestSMART

Macallum New Energy Limited (ASX:MNE)

ALERT: Price-sensitive ASX Announcement for MNE
Current share price for MNE : $0.125 -0.055 (-30.56%)+
Announcement
Release
19 May 2026 8:25AM
Price at Release
$0.180
Full Release
download
Summary
Macallum New Energy Limited has announced the commencement of the Condor 2D seismic survey in its 100% owned exploration permits EP-511 and EP-494, located in the onshore North Perth Basin. The approximately 70km survey, conducted by Terrex Pty Ltd, is designed to image the Condor lead in EP-494 and target new leads in EP-511. Utilizing low-impact GeoPulse seismic sources, the data acquisition is expected to take two weeks, with results and updates anticipated by the third quarter of 2026. This survey fulfills the permit year 3 work commitment for EP-511 and aims to mature several prospects and optimize future drilling locations.
Key Points
  • Macallum New Energy Limited has commenced the Condor 2D seismic survey in the North Perth Basin.
  • The survey covers exploration permits EP-511 and EP-494 which are 100% owned by Macallum.
  • The survey aims to image the Condor lead in EP-494 and new targets in EP-511.
  • Approximately 70km of seismic acquisition will take place over two weeks.
  • The survey uses low-impact GeoPulse seismic sources.
  • Data processing and interpretation results are expected in the third quarter of 2026.
  • The survey fulfills the permit year 3 work commitment for EP-511.
  • Macallum New Energy aims to optimize locations for future drilling based on survey results.
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.