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Variscan Mines Limited (ASX:VAR)

ALERT: Price-sensitive ASX Announcement for VAR
Current share price for VAR : $0.004 -0.005 (-55.56%)+
Announcement
Release
30 Jan 2026 6:29PM
Price at Release
$0.009
Full Release
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Summary
Variscan Mines Limited reported on its quarterly activities and cash flow for the period ending 31 December 2025. The company achieved significant progress in its Novales-Udías Project in northern Spain, including government approval for the Preliminary Mining Plan for the San Jose Mine, which allows for pre-works and trial mining ahead of a potential mine restart. High-grade zinc mineralization was confirmed at the Udías Mine with several notable drill intercepts. Financially, the company raised A$1 million through a Convertible Loan Note Facility to support ongoing exploration and development. Their cash flow statement indicated net cash outflows from operating and investing activities, partly offset by financing activities.
Key Points
  • Government approval of Preliminary Mining Plan for San Jose Mine.
  • High-grade zinc intercepts confirmed at Udías Mine.
  • Continued progress towards Mine Re-Start Study for San Jose Mine.
  • Financial liquidity strengthened by A$1 million Convertible Loan Note Facility.
  • Net cash outflows from operating and investing activities, with some offset from financing activities.
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.