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Paterson Resources Ltd (ASX:PSL)

ALERT: Price-sensitive ASX Announcement for PSL
Current share price for PSL : $0.037 -0.009 (-19.57%)+
Announcement
Release
29 Apr 2026 6:18PM
Price at Release
$0.046
Full Release
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Summary
Paterson Resources Limited has released its Quarterly Activities Report and Appendix 5B Cash Flow Report for the quarter ended 31 March 2026. The company reported significant progress on its Grace Gold-Copper Project with assay results from the Phase I drilling campaign indicating substantial gold mineralisation potential. The company completed 2,850m of drilling out of a planned 8,500m, discovering several promising gold intercepts. Financially, Paterson Resources had a net cash outflow from operating activities amounting to $87,000 and from investing activities $240,000, primarily attributed to exploration and evaluation costs. The company ended the quarter with cash and cash equivalents of $2.269 million. Additionally, the corporate sector witnessed leadership changes with the appointment of Mr. Samuel Baker as a non-executive director. The company has also begun a soil sampling campaign to outline further drilling targets.
Key Points
  • Assay results from Phase I drilling at Grace Gold-Copper Project show potential for gold mineralisation.
  • Net cash outflow from operating activities was $87,000.
  • Investing activities saw a cash outflow of $240,000, mainly for exploration.
  • Cash and cash equivalents at quarter-end were $2.269 million.
  • New director appointment: Mr. Samuel Baker.
  • Commenced a soil sampling campaign for additional drilling targets.
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.