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Pursuit Minerals Limited (ASX:PUR)

ALERT: Price-sensitive ASX Announcement for PUR
Current share price for PUR : $0.088 0.023 (35.38%)+
Announcement
Release
29 Oct 2025 9:16AM
Price at Release
$0.065
Full Release
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Summary
During the September 2025 quarter, Pursuit Minerals Limited progressed multiple initiatives focused on advancing its flagship Rio Grande Sur Lithium Project in Argentina. The company continued producing 99.5% lithium carbonate, aiming for commercial engagement with partners. A development pathway was updated to transition from pilot operations to a 5000tpa commercial facility, with feasibility studies underway. Additionally, Pursuit acquired the Sascha Marcelina Gold Project, enhancing its asset base. Operating within Argentina's favorable mining jurisdiction, Pursuit is leveraging governmental incentives to bolster its project viability. Financially, the company ended the quarter with a cash balance of $0.331 million AUD, followed by a successful capital raising of $4.04 million.
Key Points
  • Pursuit Minerals Limited focused on advancing the Rio Grande Sur Lithium Project in Argentina.
  • Continued production of 99.5% lithium carbonate for qualification with prospective partners.
  • Updated development plan transitioning to a 5000tpa commercial facility with potential expansion to 17,500tpa.
  • Feasibility study for the 5000tpa project advancing with various engineering and regulatory milestones achieved.
  • Acquisition of Sascha Marcelina Gold Project in Argentina, expanding the company's portfolio.
  • Argentina's mining-friendly environment and governmental incentives boosting project feasibility.
  • Cash balance at the end of September 2025 was $0.331 million AUD, with a subsequent $4.04 million placement completed.
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.