Resolution Minerals Ltd (ASX:RML) Quarterly Activities Report
Exploration Activities
Resolution Minerals Ltd (ASX:RML) reported its quarterly activities for the three months ending 31 December 2024. The company focused on reviewing its exploration tenure while ensuring its tenements remained in good standing. Notably, RML sent samples from the George Silica Sands Project for analysis and continued its assessment of potential project divestments and acquisitions.
Financial Overview
At the end of the quarter, RML had cash reserves of $229,000. The company executed a 1:8 consolidation of its securities during this period and raised $240,000 through a share placement. Additionally, RML sold the Allegra Nickel Project in Alaska for $25,000 to an entity associated with director Menachem Rogatsky, with the sale finalised in January 2025.
Executive Director Aharon Zaetz noted, “We are committed to strategically positioning our projects while ensuring sound financial management.”
Expenditure Insights
RML’s Appendix 5B reflects exploration activity expenditure of $71,000, primarily for tenement rentals and technical consultancy fees. The company opted to settle director fees through share issuance, contributing to nil cash outflow for items 6.1 and 6.2 in its expenditure report.
Tenement Activity
RML’s ongoing commitment to exploration is evident as it maintains a 100% beneficial interest in several projects, including the Benmara and Carrara Range Projects in Northern Territory and the George Project in South Australia.
Looking ahead, RML plans to leverage its current projects and cash reserves for future opportunities.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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