Athena Resources Limited (ASX:AHN)

ALERT: Price-sensitive ASX Announcement for AHN

Current share price for AHN : $0.004 -0.003 (-42.86%)⁺

Announcement

Quarterly Activities/Appendix 5B Cash Flow Report

Release

24 Oct 2025 8:17AM

Price at Release

$0.007

Full Release

Summary

Athena Resources Limited reported excellent assay results from its Byro South drilling program, confirming significant magnetite mineralization. The company successfully produced a high-grade magnetite Direct Reduced Iron (DRI) sample with a 70.55% iron concentration, advancing its strategy for premium value green iron products. A new partnership with Warradarge Energy and Fenix aims to develop the Mid West Green Iron Project, focusing on producing DRI products using renewable energy. The quarterly financial report indicated a negative net cash flow from operating activities of $364,681 and cash reserves of $1,119,875 at the quarter's end, providing an estimated 1.73 quarters of funding. Athena continued efforts to expand the Byro Magnetite Project, with plans to assess a maiden Mineral Resource estimation for Byro South.

Key Points

Excellent assay results from Byro South drilling program.
Production of a high-grade magnetite DRI sample at 70.55% iron concentration.
Partnership formed for the Mid West Green Iron Project with Warradarge Energy and Fenix.
Net cash flow from operating activities was negative, amounting to -$364,681.
Cash and cash equivalents at the end of the quarter were $1,119,875.
Estimated quarters of funding available is 1.73.
No new financing facilities were drawn down during the quarter.
Main focus is on the Byro Magnetite Project expansion and potential maiden Mineral Resource estimation for Byro South.

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.