Lykos Metals (ASX:LYK) Announces High-Grade Mineral Discoveries and Board Appointments
Operational Achievements
Lykos Metals reported significant high-grade polymetallic sulphide mineralisation from its Sinjakovo Project. Twenty-three rock-chip samples returned up to 1.8% antimony, 4.0% copper, and 969 g/t silver. The Company plans detailed mapping, trenching, and drilling in 2025, subject to weather conditions.
Board Appointments
The Company appointed two new Non-Executive Directors, Mr David Wheeler and Mr Mihajlo Matkovic. Additionally, Managing Director and CEO Mr Miloš Bošnjaković stepped down from his executive role, transitioning to a Non-Executive Director position. Mr Petar Tomašević assumed the CEO responsibilities.
Financial Performance
Lykos Metals reported a net cash outflow of approximately $0.36 million during the quarter, leaving a cash balance of $1.17 million as of December 31, 2024.
Future Outlook
The Company extended the Jezero project exploration permit until March 4, 2028, and is actively exploring various prospects and assessing potential acquisitions to enhance shareholder value. Lykos Metals is also considering capital raising opportunities to strengthen its financial position.
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