APC Completes 2,628m Laverton Drilling, Secures $1.93M Capital Injection
APC Minerals has completed a significant 2,628m drilling program at its Laverton Downs Gold Project and successfully raised $1.93 million through a fully underwritten entitlement offer, while streamlining its Lake Wells tenure to reduce holding costs.
- Completion of 2,628m RC drilling at Laverton Downs with assay results pending
- Rationalisation of Lake Wells tenements reduces annual holding costs by ~$200,000
- Fully underwritten entitlement offer raises $1.93 million, improving liquidity
- Settlement of $400,000 deferred consideration for Nexus Project via share issuance
- No field work at Nexus Project due to seasonal weather constraints
Exploration Momentum at Laverton Downs
APC Minerals Limited (ASX: APC) has marked a key milestone in its exploration campaign with the completion of a 2,628-metre reverse circulation (RC) drilling program at the Laverton Downs Gold Project (LDP) in Western Australia. This program, initiated in late March 2025, targeted previously identified mineralised structures and new targets derived from a comprehensive reinterpretation of historic data. Approximately 1,500 samples have been submitted for assay, with results eagerly awaited by the market.
Situated strategically between the prolific Duketon greenstone belt and the Laverton mining centres, the LDP offers APC a unique foothold in one of Australia's richest gold-producing regions. Managing Director Matt Shackleton highlighted the project's potential, noting the company's excitement to test high-grade intersections and newly identified targets.
Strategic Tenement Rationalisation at Lake Wells
In parallel with its drilling activities, APC has undertaken a significant rationalisation of its Lake Wells Gold Project tenure. The company surrendered the majority of non-core tenements, primarily those over granite terrains, effectively reducing annual rents and rates by approximately $200,000. This move reflects APC's disciplined approach to managing holding costs and focusing resources on the most prospective ground, particularly the gold mineralised greenstone Yamarna shear zone tenements that remain under its control.
Nexus Project and Corporate Developments
The Nexus Project in the West Arunta region saw no field activity during the quarter due to extreme seasonal heat limiting access. Post-quarter, APC settled the outstanding $400,000 deferred consideration for the acquisition of Green Metals Group Pty Ltd, the entity holding the Nexus tenement, through the issue of 15 million fully paid ordinary shares.
Financially, APC completed a fully underwritten renounceable entitlement offer, raising $1.93 million before costs. This capital injection is critical given the company's cash position of $81,000 at quarter-end and ongoing exploration expenditure. The offer's success underscores investor confidence and provides APC with the necessary funds to continue its exploration programs and corporate activities.
Community Engagement and Training Initiatives
Beyond exploration, APC maintains a strong commitment to community development through its involvement with the Laverton Training Centre (LTC). The LTC, a registered not-for-profit charity, delivered vocational training programs across remote Aboriginal communities, including Kiwirrkurra. These initiatives have equipped over 250 individuals with Certificate II Rural (Ranger) Operations units, demonstrating APC's broader social responsibility ethos.
Outlook and Market Positioning
APC's focus on cost control, strategic asset management, and targeted exploration positions it well to navigate the challenges of early-stage mineral exploration. The pending assay results from Laverton Downs will be pivotal in shaping the company's near-term prospects. Meanwhile, the rationalisation at Lake Wells and the capital raise provide a more sustainable financial footing.
As APC continues to assess new opportunities in the Eastern and North-Eastern Goldfields, its ability to balance exploration ambition with fiscal discipline will be critical. Investors will be watching closely for assay outcomes and any potential joint venture or sale developments at Lake Wells.
Bottom Line?
APC Minerals’ recent drilling completion and capital raise set the stage for critical assay results that will define its next growth phase.
Questions in the middle?
- What do the pending assay results from Laverton Downs reveal about the project's resource potential?
- Will APC pursue joint venture or outright sale options for the Lake Wells Gold Project?
- How will APC manage its cash flow and funding needs beyond the recent entitlement offer?
