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C29 Metals Limited (ASX:C29)

ALERT: Price-sensitive ASX Announcement for C29
Current share price for C29 : $0.014 -0.004 (-22.22%)+
Announcement
Release
31 Jul 2025 10:20AM
Price at Release
$0.018
Full Release
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Summary
C29 Metals Limited's quarterly activities and cash flow report outlines the company's exploration and corporate activities for the March 2023 quarter. The Company made significant progress on its copper-focused projects, particularly at the Sampson Tank Project in New South Wales, where geophysical work and a successful drilling campaign were conducted, identifying high-grade copper intersections and providing targets for further drilling. Additional fieldwork and geochemical sampling were carried out at other projects, including Reedy Creek, Mayfield, and Torrens, in pursuit of copper and associated mineralisation. The report also details corporate developments, including the grant of exploration licenses, share placements raising $785,000, and board changes. Financially, the Company ended the quarter with $1.33M in cash, with exploration and evaluation expenditures being the main outflow. The Appendix 5B cash flow report provides a detailed breakdown of cash movements during the quarter.
Key Points
  • C29 advanced exploration at its Sampson Tank copper project with successful drilling and geophysics yielding high-grade copper intersections.
  • Fieldwork and soil sampling were conducted at Reedy Creek, Mayfield, and Torrens for further exploration of copper and associated minerals.
  • The company completed a capital raising of $785,000 through a share placement to fund ongoing exploration.
  • Corporate updates include the granting of new exploration licenses and changes to the board of directors.
  • As of 31 March 2023, C29 held $1.33 million in cash reserves.
  • Exploration and evaluation activities were the largest expenditure for the quarter.
  • No mining production or development activities were reported during the quarter.
  • Appendix 5B cash flow report details receipts, expenditures, and cash balances for the reporting period.
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.