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Desert Metals Limited (ASX:DM1)

ALERT: Price-sensitive ASX Announcement for DM1
Current share price for DM1 : $0.008 -0.003 (-27.27%)+
Announcement
Release
31 Oct 2025 4:14PM
Price at Release
$0.011
Full Release
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Summary
The quarterly report for Desert Metals Limited provides an overview of the company's financial and operational activities for the quarter ended 30 September 2025. The report highlights significant activities in their Côte d’Ivoire projects, including the completion of 17 diamond holes at the King Kong prospect which confirmed the presence of a high-grade gold system. The company reported a net cash outflow from operating activities of $525,000 and from investing activities of $567,000, resulting in a decrease in cash equivalents to $834,000. Desert Metals plans to reduce exploration expenditure in Q4 2025 due to the Presidential Election and wet season, and aims to raise further funds to continue operations and meet business objectives. The report also notes a new geological target identified for future drilling campaigns at the expanded +3km gold corridor at Adzope.
Key Points
  • Completed 17 diamond holes at King Kong prospect confirming high-grade gold system.
  • Net cash outflow from operating activities was $525,000.
  • Net cash outflow from investing activities was $567,000.
  • Cash equivalents decreased to $834,000.
  • Exploration expenditure to reduce in Q4 2025 due to election and wet season.
  • Plans to raise funds for continued operations and business objectives.
  • New geological target identified for future drilling at Adzope.
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.