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Scorpion Minerals Limited (ASX:SCN)

ALERT: Price-sensitive ASX Announcement for SCN
Current share price for SCN : $0.023 -0.002 (-8%)+
Announcement
Release
31 Jul 2026 5:36PM
Price at Release
$0.025
Full Release
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Summary
The quarterly activities report for Scorpion Minerals Limited, ending 30 June 2026, outlines a net cash outflow of $504,000 from operating activities, an inflow of $2,200,000 from investing activities, and a closing cash balance of $1,699,000. Scorpion has entered into agreements to increase its stake in the Jungar Flats Project and continues to develop its Pharos and Mt Mulcahy projects, which contain significant mineral resources. The company maintains a loan facility with over $1 million undrawn, providing an estimated funding capacity of 5.8 quarters based on current expenditures.
Key Points
  • Scorpion Minerals Limited's quarterly cash flow report ending 30 June 2026.
  • Operating activities resulted in a net cash outflow of $504,000.
  • Investing activities generated a net cash inflow of $2,200,000.
  • Cash balance at the end of the period was $1,699,000.
  • Scorpion entered a Heads of Agreement to earn up to a 70% stake in E79 Gold Mines' Jungar Flats Project.
  • Pharos Project includes Old Prospect gold deposit with a resource of 312,395 tonnes at 2.15 g/t Au.
  • The Mt Mulcahy copper deposit has a JORC 2012 Resource of 647,000 tonnes at 2.4% copper.
  • The company has an unsecured loan facility of $2,500,000 with $1,225,000 undrawn.
  • Estimated quarters of funding available is 5.8 based on current cash flow.
  • Plans include further exploration and drilling at Mt Mulcahy and the Pharos 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.