InvestSMART

QX Resources Limited (ASX:QXR)

ALERT: Price-sensitive ASX Announcement for QXR
Current share price for QXR : $0.003 -0.002 (-40%)+
Announcement
Release
3 Feb 2026 9:42AM
Price at Release
$0.005
Full Release
download
Summary
QX Resources Limited has announced a successful placement to raise $1.23 million to fund exploration activities at the Madaba Uranium Project in Tanzania. The funds will primarily support the development of this highly prospective project, including a heli-borne radiometric survey and subsequent drilling program planned for late Q2, 2026. The placement involves issuing up to 200 million new shares at $0.005 each, with additional director participation subject to shareholder approval. The Madaba project is strategically positioned within the Luwegu Basin and is considered analogous to the significant Nyota Uranium Deposit. The strengthening uranium market further supports the positive outlook for the project.
Key Points
  • QX Resources Limited has secured commitments to raise $1.23 million.
  • The placement involves issuing up to 200 million new shares at $0.005 per share.
  • An additional $230,000 participation by directors is subject to shareholder approval.
  • Funds will be used for exploration activities at the Madaba Uranium Project in Tanzania.
  • A heli-borne radiometric survey is planned, followed by a maiden drill program in late Q2, 2026.
  • The project is located within the Luwegu Basin, southern Tanzania.
  • The Madaba project is believed to be analogous to the Nyota Uranium Deposit.
  • Uranium market fundamentals are strengthening, supporting the project.
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.