InvestSMART

Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $0.765 0.34 (80%)+
Announcement
Release
31 Oct 2025 4:23PM
Price at Release
$0.425
Full Release
download
Summary
Midas Minerals Ltd released its Quarterly Activities and Appendix 5B Cash Flow Report for the quarter ending 30 September 2025. The company reported no receipts from customers, with major expenditures occurring in staff costs and administration. Cash flows from investing activities showed significant spending on exploration and evaluation, and the company raised substantial funds through the issuing of equity securities. Midas ended the quarter with a cash position of $15,286,000, sufficient to cover over 12 quarters of operations. The report highlights their ongoing mineral exploration projects in Australia and Canada, along with future plans to expand exploration activities in Namibia.
Key Points
  • No receipts from customers reported.
  • Cash used in operating activities totaled $526,000 for the quarter.
  • Significant outflows for exploration and evaluation activities.
  • Raised $12,708,000 from equity securities, net cash from financing activities was $12,591,000.
  • Ended the quarter with $15,286,000 in cash and equivalents.
  • Estimated quarters of funding available: 12.09.
  • Projects include Newington, Challa, and Greenbush in Australia, and Aylmer and Greenbush in Canada.
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.