ActivEX Limited - Quarterly Cash Flow and Exploration Report - 30 June 2024
AIV (AIV) Share Update July 2024 Monday 29th
ActivEX Limited Reports Quarterly Cash Flow and Exploration Updates
ActivEX Limited (ASX: AIV) has released its quarterly cash flow report and provided updates on its exploration activities for the period ending 30 June 2024.
Instant Summary:
- Net cash used in operating activities: $107,000.
- Net cash from investing activities: $42,000.
- Cash and cash equivalents at the end of the period: $53,000.
- Significant uranium and REE findings at Gilberton Gold Project.
- Granted EPM28644 for Aramac REE Project.
Financial Overview
ActivEX Limited reported a net cash outflow from operating activities of $107,000 for the quarter, primarily due to staff costs and administration expenses. The company also reported a net cash inflow from investing activities of $42,000, which included proceeds from the disposal of its subsidiary, ActivEx Canning Pty Ltd, for $75,000.
As of 30 June 2024, ActivEX Limited had $53,000 in cash and cash equivalents. Additionally, the company has an available loan facility of $2.84 million from Star Diamond Developments Limited, providing a total available funding of $2.897 million.
Exploration Highlights
The company made significant progress in its exploration activities during the quarter. At the Gilberton Gold Project in North Queensland, ActivEX identified substantial uranium and rare earth elements (REE) mineralization. Notable results included rock chips with up to 610 ppm U3O8 and RC drilling results of up to 4m @ 666 ppm U3O8.
In Central Queensland, the company was granted EPM28644 for the Aramac REE Project, allowing for advanced exploration activities. Initial findings showed promising TREO analysis up to 777 ppm in kaolinitic fine-grained sediments.
Future Exploration Plans
ActivEX plans to conduct detailed mapping and sampling at the Aramac REE Project and execute drilling to test the depth and continuity of identified mineralization at the Gilberton Project. The company also aims to expand its sampling program to delineate the extent of mineralization in the Aramac REE Project.
The quarterly cash flow report indicates that ActivEX Limited is managing its financial resources effectively, with sufficient funding available for future operations. The significant findings in uranium and REE at the Gilberton Gold Project could positively impact the company's stock, as these resources are in high demand. The granting of EPM28644 for the Aramac REE Project further strengthens the company's exploration portfolio.
Investor Reaction:
Investors and analysts have shown interest in the company's exploration progress, particularly the significant uranium and REE findings. The extension of the loan maturity date by Star Diamond Developments Limited is seen as a positive move, providing financial stability for ongoing and future projects.
Conclusion:
Investors should continue to monitor ActivEX Limited's exploration activities and financial management. The company's strategic focus on high-value mineral resources and its commitment to sustainability and innovation position it well for future growth. Stay tuned for further updates and detailed reports on exploration progress.