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Activex Limited (ASX:AIV)

ALERT: Price-sensitive ASX Announcement for AIV
Current share price for AIV : $0.024 0.008 (50%)+
Announcement
Release
29 Jul 2025 9:52AM
Price at Release
$0.016
Full Release
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Summary
Activex Limited's Quarterly Activities Report and Appendix 5B Cash Flow Report for the quarter ended 31 March 2024 highlights continued progress in nickel exploration at the Florence Lake and Horseshoe West projects in Western Australia. The company achieved promising exploration results, particularly high-grade nickel intersections and successful geophysical surveys at Florence Lake, alongside the initiation and encouraging early findings at Horseshoe West. The quarter also saw completion of a capital raising, appointment of a new director, and maintenance of a robust cash balance of $2.6 million. Exploration and evaluation activities dominated expenditure, with the company emphasizing ongoing exploration as its primary focus.
Key Points
  • Activex Limited (AIV) released its Quarterly Activities Report and Appendix 5B Cash Flow Report for the quarter ended 31 March 2024.
  • The company made significant progress on the Florence Lake and Horseshoe West nickel exploration projects in Western Australia.
  • Florence Lake drilling identified high-grade nickel sulphide, with notable intersections and successful downhole electromagnetic surveys completed.
  • Horseshoe West drilling program commenced, with initial results confirming key geological features and encouraging follow-up exploration.
  • Corporate activities included completion of a share placement raising $1.3 million before costs, and the appointment of a new Non-Executive Director.
  • Cash outflows were primarily related to exploration and evaluation activities, with $1.1 million spent during the quarter.
  • As of 31 March 2024, Activex reported a cash balance of $2.6 million.
  • No mining production or development activities occurred during the quarter.
  • The Appendix 5B report detailed exploration, staff, administration, and fundraising expenditure, with no payments to related parties during the reporting period.
  • The company remains focused on advancing its nickel projects and maintaining a strong liquidity position for ongoing exploration.
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.