Oakajee Advances Gold Exploration at Paynes Find with $1.42M in Liquid Assets
Oakajee Corporation has progressed its gold exploration efforts at the Paynes Find project in Western Australia, preparing for drilling in the September quarter while maintaining a solid financial position.
- Continued regional gold exploration at Paynes Find during June quarter
- Drilling planned for September quarter to test refined gold targets
- Liquid assets total approximately $1.42 million, including cash and listed shares
- Holdings include significant stakes in Santa Fe Minerals and Turaco Gold
- No new fundraising initiated but company confident in securing capital if needed
Exploration Progress at Paynes Find
Oakajee Corporation Limited has maintained momentum in its gold exploration activities at the Paynes Find project in Western Australia throughout the June 2025 quarter. The company focused on refining gold mineralisation targets through regional exploration, building on previous aircore drilling results that identified promising north-north-west and north-north-east trending gold zones. These trends remain open to the south beneath shallow alluvial cover, which has complicated geochemical detection and necessitates further drilling.
With statutory approvals secured, Oakajee plans to commence more closely spaced and angled drilling in the September quarter. This approach aims to better penetrate the shallow weathering and complex geology, improving the chances of delineating economically viable gold deposits.
Financial Position and Corporate Overview
At quarter’s end, Oakajee reported liquid assets of approximately $1.42 million, comprising $178,000 in cash and $1.24 million in shares of listed entities. The company holds 11 million shares in Santa Fe Minerals Limited and 2 million shares in Turaco Gold Limited, reflecting a strategic investment approach alongside its exploration activities.
Operating cash flows remain negative due to ongoing exploration and administrative costs, but the company expects these outflows to continue at similar levels in the near term. While no new capital raising initiatives have been launched, Oakajee’s management expressed confidence in securing additional funding through equity or loans if required. The ability to liquidate listed investments provides an additional financial buffer.
Joint Ventures and Tenement Holdings
Oakajee continues to manage the Paynes Find Gold Project through joint ventures and wholly owned tenements. The company holds an 80% interest in several tenements, including E59/2055, E59/2092, E59/2312, and M59/549, with Sayona Lithium Pty Ltd and Bruce Robert Legendre as partners in some leases. Additionally, Oakajee fully owns tenement E59/2391, which is not subject to joint venture arrangements.
This diversified tenement portfolio underpins Oakajee’s exploration strategy, allowing the company to control operations and focus on advancing gold discoveries in a historically prospective region.
Outlook and Strategic Considerations
Looking ahead, Oakajee’s drilling campaign in the September quarter will be a critical test of the refined gold targets. Success could significantly enhance the company’s resource base and attract further investment. Meanwhile, the company’s prudent financial management and existing shareholdings provide a degree of operational resilience.
Investors will be watching closely for assay results and any updates on capital management strategies. Oakajee’s ability to balance exploration progress with financial discipline will be key to sustaining momentum in a competitive gold exploration landscape.
Bottom Line?
Oakajee’s upcoming drilling at Paynes Find will be pivotal in unlocking value amid a stable financial footing.
Questions in the middle?
- What initial assay results will the September quarter drilling yield?
- Will Oakajee initiate a capital raise if exploration costs escalate?
- How might joint venture partnerships evolve as exploration advances?
