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Genesis Resources Limited (ASX:GES)

ALERT: Price-sensitive ASX Announcement for GES
Current share price for GES : $0.006 -0.001 (-14.29%)+
Announcement
Release
30 Apr 2025 9:28AM
Price at Release
$0.007
Full Release
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Summary
Genesis Resources Limited (GES) released its Quarterly Activities and Appendix 5B Cash Flow Report for the quarter ended 31 March 2023. The report details the exploration and development activities at several of the company's projects, including the Plavica gold-silver-copper project in North Macedonia and other Australian projects. Key highlights include ongoing studies and preparations for a mining concession application at Plavica, updates on resource drilling and environmental studies, and financial details such as net cash used in operating activities, cash outflows, and funding sources. The company remains focused on advancing its core projects while maintaining prudent financial management during the quarter.
Key Points
  • Quarterly Activities Report and Appendix 5B Cash Flow Report released for the quarter ending 31 March 2023.
  • Genesis Resources Limited’s main focus remains the advancement of the Plavica gold-silver-copper project in North Macedonia.
  • Significant progress on the mining concession and feasibility study documentation for Plavica.
  • Environmental and resource drilling studies are ongoing to support the mining concession application.
  • No substantial field work reported at Australian projects during the quarter.
  • Net cash used in operating activities amounted to $162,000 for the quarter.
  • Total cash outflows for the quarter were $233,000.
  • Company reported a cash balance of $121,000 at 31 March 2023.
  • Funding was supplemented with $112,000 in new borrowings during the quarter.
  • Genesis Resources continues to manage finances prudently while advancing exploration and development activities.
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.