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Union Star Metals Ltd (ASX:USM)

ALERT: Price-sensitive ASX Announcement for USM
Current share price for USM : $0.012 0.002 (20%)+
Announcement
Release
27 Jul 2026 8:28AM
Price at Release
$0.010
Full Release
download
Summary
During the quarter ending June 30, 2026, Union Star Metals Ltd focused on optimizing its portfolio by divesting non-core assets such as the Scanty Rare Earth Project in Brazil to Harvest Minerals Limited. The company aimed to reduce ongoing costs and concentrate on its United States precious metals portfolio. Financially, the company ended the quarter with $601,000 in cash and cash equivalents, experiencing a net cash outflow of $581,000 from operating activities. Payments to related parties amounted to $69,000. Union Star Metals plans to enhance its exploration efforts in the US, focusing on the Cobb Creek Gold Project in Nevada, intending to refine exploration targets and prepare for drilling.
Key Points
  • Union Star Metals Ltd continued its portfolio rationalization strategy during the quarter.
  • The company divested non-core assets, including the Scanty Rare Earth Project in Brazil.
  • Cash and cash equivalents at the end of the period were $601,000.
  • The company reported a net cash outflow from operating activities of $581,000.
  • No substantive mining production and development activities occurred during the quarter.
  • Payments to related parties totaled $69,000, covering Director’s fees, secretarial, and account services.
  • Future activities will focus on advancing exploration in the United States, particularly at the Cobb Creek Gold 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.