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PolarX Limited (ASX:PXX)

ALERT: Price-sensitive ASX Announcement for PXX
Current share price for PXX : $0.017 0.001 (6.25%)+
Announcement
Release
30 Jul 2026 8:25AM
Price at Release
$0.016
Full Release
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Summary
PolarX Limited's quarterly report for the period ending June 30, 2026, outlines significant advancements in its Alaska Range Copper/Gold Project, which includes the Caribou Dome, Stellar Gold, and Senator projects. During this quarter, PolarX completed the 2025 diamond drilling program at the Caribou Dome, reporting high-grade copper assays. The report highlights the receipt of the second earn-in contribution from Northern Star Resources Limited, amounting to US$6 million, which increased Northern Star's interest in the joint venture to 30%. Cash flow activities show significant investments in exploration and evaluation, offset by substantial proceeds from asset disposals. The company reports a positive cash position at the quarter's end, reflecting successful financing and operating strategies.
Key Points
  • Exceptional assays from the 2025 diamond drilling program at Caribou Dome.
  • 3D magnetic inversion modeling identified a 3.5km-diameter magnetic body at Alaska Range.
  • Alaska Range Joint Venture received US$6M from Northern Star, funding 2026 exploration.
  • 2026 exploration includes diamond drilling and a Mobile Magnetotelluric Survey.
  • Cash flow report shows strong investment in exploration with positive cash position at quarter end.
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.