- Orange Minerals (OMX) progresses exploration activities across its portfolio during the June quarter
- The company recorded operating activity outgoings of $528,000, of which $360,000 was spent on exploration and evaluation
- These funds supported the completion of a phase one drill program at Wiseman’s Creek and assisted site preparation for a phase two diamond drilling program at Calarie
- At the end of the period, the company had nearly $5.19 million in cash and cash equivalents
- Shares are trading flat at 8.4 cents each at market close
Orange Minerals (OMX) has progressed exploration activities across its portfolio during the June quarter.
One of its highlights for the period included finalising its purchase of the Wiseman’s Creek and Ophir tenements for $550,000.
The company recorded operating activity outgoings of $528,000, of which $360,000 was spent on exploration and evaluation.
These funds supported the completion of a phase one drill program at Wiseman’s Creek and assisted site preparation for a phase two diamond drilling program at Calarie.
Next month, drilling at Calarie is expected to commence, while assays are anticipated from Wiseman’s Creek.
OMX said it intends to maintain an exploration program that targets significant orebodies in the Lachlan Fold Belt in New South Wales and the Eastern Goldfield of Western Australia.
A total of $386,000 was exhausted for investing activities during the quarter, which was mostly directed towards its tenements.
At the end of the period, the company had nearly $5.19 million in cash and cash equivalents.
Shares were trading flat at 8.4 cents each at market close.