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Tasman Resources Limited (ASX:TAS)

ALERT: Price-sensitive ASX Announcement for TAS
Current share price for TAS : $0.034 -0.009 (-20.93%)+
Announcement
Release
28 Jan 2026 9:49AM
Price at Release
$0.043
Full Release
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Summary
Tasman Resources Limited (ASX:TAS) has reported its activities for the quarter ended 31 December 2025. The company maintains a strong balance sheet with $1.5 million in cash and a shareholding in Eden Innovations valued at $6.5 million. Significant progress was made in its mineral projects, including the Lake Torrens IOCG Project, where FMG Resources, a subsidiary of Fortescue Ltd, manages the joint venture. Fortescue has spent approximately $7 million on the project, aiming to increase its stake to 80% by funding $11 million. Tasman also advanced its Parkinson Dam Project in South Australia, planning to drill six priority targets in 2026. Financially, the company raised $2 million through a share placement and maintains sufficient working capital to pursue exploration plans. The Appendix 5B Cash Flow Report indicates a net increase in cash to $1.461 million by the period's end.
Key Points
  • Tasman has $1.5 million in cash and a $6.5 million investment in Eden Innovations.
  • Progress at Lake Torrens IOCG Project with FMG, targeting an 80% stake through $11 million funding.
  • Preparation for drilling six targets at Parkinson Dam Project in 2026.
  • Completed a $2 million share placement to secure working capital.
  • Cash flow report shows a net cash increase to $1.461 million by quarter-end.
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.