Traka Resources Limited (ASX:TKL) December 2024 Quarterly Activities Report
Exploration Advances at Key Projects
Traka Resources Limited (ASX: TKL) reported significant progress in its December 2024 quarterly activities. The company is advancing its Gorge Creek Project with ongoing permit applications for land access. A priority drill program is being established to target SEDEX-style lead and zinc deposits, along with exploration for rare earth elements (REE) and uranium.
Simultaneously, preparations are underway for a maiden drill program at the Cranbrook Project, pending Government approval. This site covers an area of 900 sq km and is prospective for clay and rock-hosted REE mineralisation.
Strategic Decisions
Traka has successfully completed due diligence and has withdrawn from the Mavago and Meponda projects, reallocating resources towards higher-potential opportunities. The decision aligns with the company’s focus on identifying complementary projects that could build long-term value for shareholders.
Financial Performance
Financially, Traka raised $300,000 through a placement in December, issuing shares at $0.002 each. This move bolsters the company’s capital base and positions it to further enhance its exploration activities across its Australian projects.
Outlook
Traka is set on continuing its exploration efforts at Gorge Creek and Cranbrook projects while actively seeking new opportunities. The overall strategic aim is to enhance shareholder value through prudent project acquisitions and focused exploration.
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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