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Strickland Metals Limited (ASX:STK)

ALERT: Price-sensitive ASX Announcement for STK
Current share price for STK : $0.062 -0.018 (-22.50%)+
Announcement
Release
31 Jul 2026 8:38AM
Price at Release
$0.080
Full Release
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Summary
Strickland Metals Limited, in its Quarterly Activities Report for the June 2026 quarter, highlighted significant updates including a 50% increase in the Mineral Resource Estimate at the Gradina deposit and a 290koz increase in gold resources at Copper Canyon. The company remains well-funded, with $58.6 million in cash and liquid investments of $13.2 million. New board appointments were made to enhance technical and strategic capabilities. Strickland completed a Magnetotelluric survey to refine drilling targets and reported no mining production activities during the quarter. Financially, the company used $681,000 in operating activities and $3,299,000 in investing activities, with an estimated 14.84 quarters of funding available under current conditions.
Key Points
  • Strickland Metals Limited completed a Magnetotelluric (MT) survey and is processing data to refine drilling targets.
  • Jo-Anne Dudley and Sandra Bates were appointed to the Strickland Board to enhance technical and strategic capabilities.
  • Strickland Metals Limited reported cash holdings of $58.6 million and liquid investments of $13.2 million at the end of the June quarter.
  • The updated Mineral Resource Estimate (MRE) for Gradina increased by 50%, resulting in 1.8Moz of gold at a 1.5% cut-off grade.
  • The Shanac deposit MRE update includes a maiden Indicated Resource of 1.25Moz AuEq.
  • Copper Canyon's updated MRE increased gold resources by 290koz compared to the 2021 estimate.
  • The company plans further metallurgical testing at Gradina, achieving average gold recoveries of 94.3%.
  • Strickland Metals Limited has no mining development or production activities undertaken in the June quarter.
  • Cash used in operating activities was $681,000, and cash used in investing activities amounted to $3,299,000.
  • The company has an estimated 14.84 quarters of funding available based on current cash flows.
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.