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Paterson Resources Ltd (ASX:PSL)

ALERT: Price-sensitive ASX Announcement for PSL
Current share price for PSL : $0.034 -0.005 (-12.82%)+
Announcement
Release
30 Jan 2026 1:05PM
Price at Release
$0.039
Full Release
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Summary
The quarterly report for Paterson Resources Ltd for the period ending 31 December 2025 highlights the completion of Phase I of a significant drilling campaign at the Grace Gold-Copper Project in Western Australia, raising $752k from a rights issue, and maintaining a robust cash position of $2.583 million. The company is actively working towards expanding its JORC resource and progressing applications for a mining license. Financial activities included a non-renounceable entitlement issue, and the company estimates it has sufficient funding for approximately 3.85 quarters based on current cash flows.
Key Points
  • Completed Phase I of an 8,500m drilling campaign at the Grace Gold-Copper Project.
  • Proceeds from a rights issue amounted to $752k with 41.8 million new shares issued.
  • The Grace Gold-Copper Project is located in Western Australia’s Paterson Province.
  • Initial assay results expected in early February.
  • Net cash used in operating activities was $250k for the quarter.
  • Cash and cash equivalents at end of the period was $2.583 million.
  • Successfully completed a pro-rata non-renounceable entitlement issue.
  • Estimated 3.85 quarters of funding available with current cash flow.
  • Director Matthew Bull received shareholder approval for participation in a placement.
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.