APC Minerals reports encouraging gold intercepts from its Laverton Downs drilling program while navigating a lean cash position and strategic tenement rationalisation.
- Completed 2,628m RC drilling at Laverton Downs with promising gold results
- Issued 15 million shares to settle acquisition of Nexus Project tenement
- Surrendered all Lake Wells tenements, exiting that region
- Maintains low cost base with $0.58 million cash on hand
- Ongoing heritage engagement and airborne survey planning at Nexus
Exploration Progress at Laverton Downs
APC Minerals Limited (ASX – APC) has completed a significant reverse circulation drilling campaign at its Laverton Downs Gold Project in Western Australia, delivering encouraging gold intercepts that deepen understanding of the mineralisation controls in the area. The 2,628-metre program, comprising 22 holes, followed up on historical high-grade results and targeted newly identified zones through a comprehensive reinterpretation of legacy data.
Post-quarter results revealed several noteworthy intercepts, including 4 metres at 1.2 grams per tonne gold from 104 metres, and 2 metres at 2.04 grams per tonne from 57 metres. These findings support the company’s decision to pursue further drilling to better delineate the resource potential.
Strategic Portfolio Rationalisation
In a move reflecting a sharper focus on core assets, APC Minerals surrendered all tenements at its Lake Wells Gold Project by the end of June 2025, effectively exiting that exploration region. This rationalisation aligns with the company’s strategy to streamline expenditures amid a challenging investment climate for junior explorers.
Meanwhile, the company advanced its Nexus Project in the West Arunta region, an early-stage exploration opportunity surrounded by significant rare earth and critical mineral deposits. APC is actively engaging with the Tjamu Tjamu Aboriginal Corporation regarding heritage surveys and awaits the integration of a government-funded airborne magnetic survey into its exploration plans.
Corporate and Financial Position
APC Minerals issued 15 million fully paid ordinary shares to settle $400,000 in outstanding cash consideration for acquiring Green Metals Group Pty Ltd, the holder of the Nexus Project tenement E80/6044. This equity issuance reflects the company’s preference for conserving cash while advancing its project portfolio.
As at 30 June 2025, APC held $580,000 in cash, maintaining a minimal cost base to extend its operational runway. The company reported exploration expenditure of approximately $360,000 during the quarter, primarily on drilling activities and tenement management. CEO Matt Shackleton emphasised the company’s cautious approach amid subdued junior exploration investment sentiment, highlighting a focus on near-term production opportunities and rigorous evaluation of new project prospects.
Community and Training Initiatives
Beyond exploration, APC supports the Laverton Training Centre, a registered charity delivering vocational training to remote Aboriginal communities. The centre has enrolled 274 students to date, with over 80% securing employment outcomes, underscoring APC’s commitment to social responsibility in its operating regions.
Bottom Line?
APC Minerals’ promising drilling results and strategic focus set the stage for its next exploration phase, but funding constraints and market sentiment remain key challenges.
Questions in the middle?
- What are the timelines and expected outcomes for the upcoming heritage surveys and airborne magnetic survey at Nexus?
- How will APC Minerals secure additional funding to sustain exploration and development beyond the current cash runway?
- What are the company’s plans for advancing Laverton Downs toward production given the encouraging drilling results?