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Orbminco Limited (ASX:OB1)

ALERT: Price-sensitive ASX Announcement for OB1
Current share price for OB1 : $0.012 -0.001 (-7.69%)+
Announcement
Release
31 Jul 2026 1:04PM
Price at Release
$0.013
Full Release
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Summary
Orbminco Limited, an Australian exploration and development company, reported its activities for the quarter ended 30 June 2026, focusing on its Majestic North Gold Project in Western Australia. The company completed a 27-hole reverse circulation drilling program at Majestic North, which showed promising high-grade gold results. Orbminco is progressing a ten-workstream mine development program aimed at lodging a Mining Development and Closure Proposal by September 2026. Financially, the company raised $4 million through a share placement, leaving cash and cash equivalents at $1.917 million at the end of the quarter. The Appendix 5B cash flow report highlighted cash outflows of $1.615 million for exploration and evaluation, and payments to related parties totaling $108,000. The company expects to continue its operations and meet business objectives by managing discretionary expenditure and pursuing potential revenue pathways from the Majestic North project.
Key Points
  • Stage 1 infill drilling at Majestic North returned high-grade gold results.
  • 27-hole drilling program completed at Majestic North.
  • Ten-workstream mine development program advancing.
  • Tranche 2 share placement raised $4 million.
  • Cash and cash equivalents at the quarter end were $1.917 million.
  • Appendix 5B report showed $1.615 million cash outflows for exploration.
  • Payments to related parties totaled $108,000.
  • Company expects to continue operations and meet objectives.
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.