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Vertex Minerals Limited (ASX:VTX)

ALERT: Price-sensitive ASX Announcement for VTX
Current share price for VTX : $0.100 -0.065 (-39.39%)+
Announcement
Release
30 Apr 2026 5:56PM
Price at Release
$0.165
Full Release
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Summary
Vertex Minerals Limited's Quarterly Activities Report for 31 March 2026 highlights the company's financial and operational status. As of the end of the quarter, the company held A$1,628,000 in cash, with significant expenditures on mining production, staff, and administration. The Reward Underground Gold Mine remained a focal point, with substantial development activities and successful optimization efforts, including achieving high quartz recovery rates. Financially, Vertex secured new loan facilities to support ongoing operations and strategic initiatives. However, there was no new work at certain projects, indicating a strategic focus on key areas.
Key Points
  • Vertex Minerals Limited had a cash balance of A$1,628,000 as of 31 March 2026.
  • Expenditure during the quarter included production costs of A$240,000, staff costs of A$1,186,000, and administration costs of A$493,000.
  • Mining production and development activities at the Reward Underground Gold Mine accounted for approximately A$2.441 million in expenditures.
  • Vertex negotiated a new A$1.5 million loan facility with Richsham Nominees Pty Ltd and a A$9.0 million convertible loan funding with professional investors.
  • No work was completed during the quarter for the Hargraves Gold Project, Taylor Rock Project, and Pride of Elvire Project.
  • The TOMRA ore sorter achieved a 99.5% recovery of quartz during the quarter.
  • Vertex Minerals is focused on increasing operational uptime, improving throughput consistency, and maximizing gold recoveries at their processing plant.
  • The company plans to use a portion of the funds for continued development and optimization of the Reward Gold Mine.
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.