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Recharge Metals Limited (ASX:REC)

ALERT: Price-sensitive ASX Announcement for REC
Current share price for REC : $0.020 -0.012 (-37.50%)+
Announcement
Release
30 Apr 2026 8:42AM
Price at Release
$0.032
Full Release
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Summary
Recharge Metals Limited's quarterly activities report for the period ending 31 March 2026 highlights a strong cash position of $3,494,569, following a successful capital raising of approximately $5.97 million through a placement and rights issue. The funds are allocated to the Sunset Well Gold Project, which involves extensive exploration planning and the acquisition of significant tenements near Leonora, Western Australia. The company has also announced changes in its board and management to strengthen its exploration and strategic capabilities. The Prospero and Flanders Shear Zones have been identified as primary exploration targets. The Appendix 5B Cash Flow Report details the company's financial movements, including financing activities and related party payments.
Key Points
  • Recharge Metals Limited held $3,494,569 in cash at the end of March 2026.
  • A significant capital raising was completed, involving a placement and a rights issue, raising approximately $5.97 million.
  • The funds raised are intended for the Sunset Well Gold Project and general working capital.
  • The Sunset Well Project includes the acquisition of tenements and is located near Leonora, Western Australia.
  • During the quarter, the company progressed on exploration planning at the Sunset Well.
  • Board and management changes were announced to enhance exploration and strategic capabilities.
  • The cash flow report (Appendix 5B) includes details of cash movements, financing, and related party payments.
  • Exploration activities targeted structural zones such as the Prospero and Flanders Shear Zones.
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.