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Mitre Mining Corporation Limited (ASX:MMC)

ALERT: Price-sensitive ASX Announcement for MMC
Current share price for MMC : $0.985 0.49 (98.99%)+
Announcement
Release
29 Apr 2024 5:57PM
Price at Release
$0.495
Full Release
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Summary
Mitre Mining Corporation Limited (MMC) released its Quarterly Activities and Appendix 5B Cash Flow Report for the period ending 31 March 2024. The company focused on advancing its Adina East Lithium Project in Quebec, Canada, completing initial field exploration and securing permits for upcoming work. Significant activities included detailed geological mapping, soil and rock sampling, and the preparation for an airborne geophysical survey. MMC completed a successful capital raising to support its exploration initiatives and reported its cash flow and expenditure for the quarter. The report also outlines corporate developments, project updates, financial standing, and the company's strategic focus on lithium projects in the James Bay region.
Key Points
  • Mitre Mining Corporation Limited completed initial exploration at Adina East Lithium Project in Quebec, Canada.
  • Field activities included geological mapping, soil and rock sampling, and planning for airborne geophysical surveys.
  • Permits were secured for further exploration and drilling programs at the Adina East project site.
  • MMC completed a successful capital raise of approximately A$2.7 million to fund exploration activities.
  • Cash flow and expenditure details were reported, along with a summary of financial position as of 31 March 2024.
  • The company maintained a strong focus on lithium projects in the James Bay region of Quebec.
  • Corporate activities included ongoing project assessment and engagement with stakeholders.
  • Appendix 5B outlined the company’s use of funds, operating and investing cash flows, and compliance with ASX listing rules.
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.