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Golden Mile Resources Ltd (ASX:G88)

ALERT: Price-sensitive ASX Announcement for G88
Current share price for G88 : $0.007 -0.002 (-22.22%)+
Announcement
Release
31 Oct 2025 1:59PM
Price at Release
$0.009
Full Release
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Summary
Golden Mile Resources Ltd reported significant progress in its September 2025 Quarterly Activities and Cashflow Reports. The company received high-grade gold assays from its Aurora Gold Prospect in Arizona, highlighting the potential of the site. Additional assay results from the Leonora Gold Joint Venture in Western Australia further supported exploration success. Financially, the company completed a capital raise of $489,823, although it reported a net cash used in operating activities of $647,000 for the quarter, resulting in a net cash decrease of $197,000. The company outlined plans for further exploration and sampling at key project sites, while also aiming to reduce exploration expenditures in the coming quarter. Golden Mile Resources also emphasized its strategy to consolidate its operations around four core projects.
Key Points
  • High grade gold assays received from the Aurora Gold Prospect in Arizona, USA.
  • Significant assay results from the Leonora Gold Joint Venture in Western Australia.
  • Capital raise of $489,823 completed with further funds pending shareholder approval.
  • Net cash used in operating activities was $647,000 for the quarter.
  • Company plans to focus on further mapping and sampling at the Aurora Gold Prospect.
  • Leonora Gold JV assays include 12m @ 12.41g/t Au and further drilling results.
  • Quarterly cash flow report indicates a net decrease in cash of $197,000.
  • Acquisitions and joint ventures focus on establishing four core projects.
  • Plans to reduce exploration expenditure significantly in the next quarter.
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.