InvestSMART

Somerset Minerals Limited (ASX:SMM)

ALERT: Price-sensitive ASX Announcement for SMM
Current share price for SMM : $0.012 0.004 (41.18%)+
Announcement
Release
31 Jul 2026 5:06PM
Price at Release
$0.009
Full Release
download
Summary
Somerset Minerals Limited's quarterly activities and cash flow report for the period ending 30 June 2026, highlights several key financial and operational activities. The company reported a net cash outflow from operating activities of A$468,000, primarily due to staff and administrative costs. Cash flows from investing activities showed a significant expenditure of A$1,313,000 on exploration and evaluation. Financing activities raised A$2,000,000 through equity securities, resulting in a net cash inflow of A$1,858,000. The cash balance at the end of the period was A$3,071,000. The report also detailed exploration activities at the Coppermine Project in Canada, with ongoing evaluations and planning. Additionally, a non-binding proposal was received for the sale of the company's Ecuadorian subsidiary.
Key Points
  • Net cash outflow from operating activities was A$468,000.
  • Investing activities included A$1,313,000 spent on exploration and evaluation.
  • Financing activities raised A$2,000,000 through equity securities.
  • End of period cash balance was A$3,071,000.
  • Exploration activities at the Coppermine Project in Canada continued.
  • A proposal was received for the sale of the Ecuadorian subsidiary.
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.