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Venus Metals Corporation Limited (ASX:VMC)

ALERT: Price-sensitive ASX Announcement for VMC
Current share price for VMC : $0.290 0.06 (26.09%)+
Announcement
Release
30 Apr 2026 8:34AM
Price at Release
$0.230
Full Release
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Summary
During the quarter ending 31 March 2026, Venus Metals Corporation Limited (VMC) engaged in several exploration activities. The Sandstone (Bellchambers) Gold Project saw further drilling plans disrupted by adverse weather, but development efforts, including flora and fauna surveys, continue. The company reported net cash inflows from investing activities primarily due to proceeds from Rox Resources Limited shares. Operating activities saw cash outflows due to increased legal expenses related to QGold's on-market bid. Despite these expenses, Venus Metals expects lower future administration costs. The company maintains substantial liquid investments and cash reserves to support future operations.
Key Points
  • Sandstone (Bellchambers) Gold Project experienced delays in drilling due to weather.
  • The company is progressing with development and feasibility studies at Sandstone.
  • Venus Metals net sold 2.3 million Rox Resources Limited shares, gaining $1.259 million.
  • Increased legal costs incurred due to QGold takeover bid.
  • Expected future reduction in administration costs.
  • Held $1.634 million in cash and $21.6 million in Rox Resources Limited shares.
  • No borrowing facilities were drawn during the quarter.
  • Venus Metals plans continued exploration at various projects.
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.