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Strike Resources Limited (ASX:SRK)

ALERT: Price-sensitive ASX Announcement for SRK
Current share price for SRK : $0.024 -0.021 (-46.67%)+
Announcement
Release
30 Jan 2026 8:17PM
Price at Release
$0.045
Full Release
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Summary
The quarterly report for Strike Resources Limited for the period ending 31 December 2025 highlights key developments in their Apurímac Iron Ore Project in Peru. The project is recognized for its high-grade magnetite resources, and Strike Resources has entered a Memorandum of Understanding with a Peruvian shipping company, Naviera Petral S.A., to develop port services for iron ore exports. The report outlines a JORC Mineral Resource of 269.4 Mt for the Apurímac Project, with significant indicated and inferred resources. Financially, the company reported cash outflows related to exploration, staff, and administration, with an end-of-period cash balance of A$2.864 million. The company continues to hold a significant stake in Lithium Energy Limited, which completed a major project sale. Strike is also preparing to resume small-scale mining operations and engage with artisanal miners under Peru's REINFO regime.
Key Points
  • Strike Resources' Apurímac Iron Ore Project in Peru is among the highest-grade, large-scale magnetite projects.
  • The Apurímac Project has a JORC Mineral Resource of 269.4 Mt, comprising 142.2 Mt indicated and 127.2 Mt inferred resources.
  • Strike signed a non-binding MoU with Naviera Petral for port services to export iron ore.
  • The company reported a net cash outflow from operating activities of A$561,000 for the quarter.
  • Cash and cash equivalents at the end of the period were A$2.864 million.
  • Strike Resources holds a 27.7% interest in Lithium Energy Limited, which completed a US$55.5 million sale of a lithium project.
  • Preparations are underway to resume small-scale mining operations in Peru, leveraging exemptions for artisanal miners.
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.