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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.078 -0.002 (-2.50%)+
Announcement
Release
31 Jul 2026 1:16PM
Price at Release
$0.080
Full Release
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Summary
Venari Minerals NL has reported its quarterly activities and cash flow for the quarter ending June 30, 2026. The company is focused on advancing its Red Mountain Lithium Project in Nevada, where significant lithium mineralization has been identified. A total of 32 drill holes have been completed, resulting in a maiden Mineral Resource Estimate of 500Mt at 1,139ppm Li. The company plans to conduct further in-fill drilling to upgrade resource estimates from Inferred to Indicated. Financially, Venari completed a successful $6.1 million capital raising and sold its Georgina Basin IOCG asset, which will allow greater focus on the Red Mountain project. The company expects to continue its operations based on the funds raised and ongoing exploration and development activities.
Key Points
  • Red Mountain Lithium Project located in Nevada.
  • Completion of 32 drill holes and establishment of a Mineral Resource Estimate.
  • Planned in-fill drilling to upgrade resource estimates.
  • Successful $6.1 million capital raising.
  • Sale of Georgina Basin IOCG asset.
  • Focus on advancing the Red Mountain 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.