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Megado Minerals Limited (ASX:MEG)

ALERT: Price-sensitive ASX Announcement for MEG
Current share price for MEG : $0.017 -0.014 (-45.16%)+
Announcement
Release
30 Oct 2025 8:24AM
Price at Release
$0.031
Full Release
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Summary
Megado Minerals Limited, an ASX-listed mining exploration company, reported on its activities for the quarter ending September 2025. The company's main focus was on the Iberian Copper Project in Northern Spain, where seven exploration permits were granted, and geological mapping activities were underway. The company prepared for airborne geophysics and a maiden drilling program, contingent on the award of five pending investigation permits. Financially, Megado raised A$780,000 through a share placement and reported cash and cash equivalents of A$2.65 million at the end of the quarter. Expenditures included A$199,000 for exploration and A$186,000 for administrative and corporate costs. The company also decided to discontinue its Ethiopian Gold Projects due to geopolitical uncertainties and appointed Adrien Wing as an independent non-executive director.
Key Points
  • All seven exploration permits granted for Iberian Copper Project.
  • Geological mapping activities continue across the permit area.
  • Airborne geophysics and maiden drilling program planned.
  • Share placement raised A$780,000; cash balance at A$2.65 million.
  • A$199,000 spent on exploration; A$186,000 on administration.
  • Discontinued Ethiopian Gold Projects due to geopolitical issues.
  • Adrien Wing appointed as independent non-executive director.
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.