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Megado Minerals Limited (ASX:MEG)

ALERT: Price-sensitive ASX Announcement for MEG
Current share price for MEG : $0.017 -0.023 (-57.50%)+
Announcement
Release
28 Jul 2025 8:21AM
Price at Release
$0.040
Full Release
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Summary
Megado Minerals Limited (MEG) released its Quarterly Activities Report & Appendix 5B for the quarter ending 31 March 2024. During the quarter, MEG focused on exploration activities at its North Fork Rare Earth Project in Idaho, USA, reporting significant progress including extensive sampling and mapping, identification of high-grade rare earth element mineralisation, and the commencement of permit applications for drilling. The company also advanced its corporate strategy by conducting a successful capital raising to support ongoing exploration, and it maintained a strong financial position at the end of the quarter. Additionally, the report outlines MEG’s continued commitment to environmental and community engagement practices as it advances its rare earth project portfolio.
Key Points
  • Quarterly Activities Report covers the period ending 31 March 2024.
  • Primary focus on North Fork Rare Earth Project in Idaho, USA.
  • Significant progress in exploration including sampling, mapping, and identification of high-grade rare earths.
  • Permit applications for drilling commenced during the quarter.
  • Successful capital raising completed to fund further exploration activities.
  • MEG maintained a strong cash position at quarter end.
  • Commitment to environmental and community engagement practices reiterated.
  • Appendix 5B (cash flow report) included for the 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.