Pearl Gull Iron Limited (ASX:PLG)

Pearl Gull Iron Limited reported its quarterly activities and cash flow for the period ending 31 December 2025. The company completed the sale of its Cockatoo Island Project, receiving A$4.5 million in cash, a 4% indirect equity interest in Crestlink Pty Ltd, and future royalties. The sale agreement was completed with Buccaneer Resources Pty Ltd, Crestlink Pty Ltd, and JCA WA Nominees Pty Ltd. The company received A$2.5 million in cash during the quarter, with an additional A$2.0 million due by December 2026. Pearl Gull used some proceeds to repay outstanding loans and accrued director fees. The company also focused on identifying new projects and growth opportunities. At the end of the quarter, Pearl Gull had A$2.051 million in cash and cash equivalents. Operating cash flows were reduced by exploration, staff, and corporate costs totaling A$285k, while cash flows from investing activities were positively impacted by the sale proceeds. Pearl Gull plans to utilize funds for new projects and working capital while maintaining exposure to Cockatoo Island through its equity interest and potential royalties.