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DeSoto Resources Limited (ASX:DES)

ALERT: Price-sensitive ASX Announcement for DES
Current share price for DES : $0.135 -0.025 (-15.63%)+
Announcement
Release
28 Jan 2026 8:41AM
Price at Release
$0.160
Full Release
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Summary
DeSoto Resources Limited reported its quarterly activities and cash flow for the period ending 31 December 2025. The company executed a binding Heads of Agreement with Fortuna Mining Corp to establish a joint venture for exploration in the Siguiri Basin, Guinea. Fortuna will fund up to US$12.5M to earn 70% interest, while DeSoto retains 30%. The quarter saw reconnaissance drilling at Dadjan and Tolé with high-grade gold intercepts. DeSoto raised A$14.0M through a share placement and held A$12.7M in cash. The company incurred exploration expenditures of approximately $3,038k and paid $121k to related parties. DeSoto remains well-funded and continues to seek project opportunities.
Key Points
  • Executed binding Heads of Agreement with Fortuna Mining Corp for Siguiri Basin JV
  • Fortuna funding up to US$12.5M to earn 70%; DeSoto retains 30%
  • Reconnaissance drilling at Dadjan and Tolé with high-grade results
  • Raised A$14.0M through share placement
  • Held A$12.7M in cash at quarter end
  • Exploration expenditures of approximately $3,038k
  • Payments of $121k to related parties
  • Continues to assess project opportunities
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.