Platina Resources Limited (ASX:PGM)

ALERT: Price-sensitive ASX Announcement for PGM

Current share price for PGM : $0.026 0.003 (13.04%)⁺

Announcement

Quarterly Activities/Appendix 5B Cash Flow Report

Release

30 Jul 2026 12:07PM

Price at Release

$0.023

Full Release

Summary

Platina Resources Limited reported significant progress in their exploration projects for the quarter ended 30 June 2026. The company completed a substantial aircore drilling program at Mt McKenna and expanded their Laverton portfolio through acquisitions. New management was appointed with Dr Paul Polito taking the role of Managing Director and CEO. Financially, the quarter saw a negative cash flow from operating activities, but the company maintained a healthy cash balance. The exploration activities across their projects, including Beete, Brimstone, and Jubilee, show potential for high yields, setting a positive outlook for future operations.

Key Points

Completed 10,809m of aircore drilling at Mt McKenna, extending historical gold zones with notable results.
Acquired Sunrise Bore and Mt Morgans South, expanding Laverton portfolio to over 312km².
Appointed Dr Paul Polito as the new Managing Director and CEO.
Platina paid Genesis $100,000 in cash and issued 5 million shares, with an additional $550,000 milestone payment possible.
The Beete Gold Project and other projects like Brimstone and Jubilee are advancing with plans for further drilling.
Significant exploration activities across several projects indicate potential high yields.
Net cash from operating activities was negative, with net cash used in operating activities at $1,127,000 for the quarter.
Cash and cash equivalents at the end of the period stood at $8,615,000.

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.