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Western Mines Group Ltd (ASX:WMG)

ALERT: Price-sensitive ASX Announcement for WMG
Current share price for WMG : $0.170 -0.05 (-22.73%)+
Announcement
Release
31 Oct 2025 9:56AM
Price at Release
$0.220
Full Release
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Summary
Western Mines Group Ltd's September 2025 Quarterly Activities and Cash Flow Reports highlight significant progress in their Mulga Tank Project in Western Australia. The company completed four RC drill holes in the Mulga Tank Ultramafic Complex, revealing promising results, especially from hole MTRC066, which showed high levels of nickel, cobalt, and copper. The company received an EIS grant to support further exploration drilling and raised capital to continue advancing the project. The financial report indicates a decrease in cash due to operating and investing activities, with a closing cash balance of $0.91 million.
Key Points
  • Completion of four RC drill holes in the Mulga Tank Ultramafic Complex.
  • Hole MTRC066 revealed high levels of nickel, cobalt, and copper.
  • Received EIS grant for further exploration drilling.
  • Capital raise of $3.72 million for project advancement.
  • Net cash decrease due to operating and investing activities.
  • Closing cash balance of $0.91 million.
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.