Exultant Raises $5M, Unveils 5.42g/t Gold and 256g/t Silver at Peak View
Exultant Mining Limited has marked a strong start post-IPO with promising early exploration results and a robust cash position, setting the stage for systematic drilling in 2026.
- Successful ASX listing raised $5 million at $0.20 per share
- High-grade gold and silver rock chip samples validate historical data
- Exploration Licence EL9826 granted, expanding Black Hammer project
- Multiple land access agreements secured for key NSW prospects
- Strong cash position of $4.3 million with no debt at quarter end
ASX Listing and Capital Raise
Exultant Mining Limited officially listed on the Australian Securities Exchange on 11 December 2025, successfully raising $5 million through an oversubscribed initial public offering priced at 20 cents per share. This milestone has provided the company with a solid financial foundation, reflected in a cash balance of $4.3 million and zero debt as of 31 December 2025.
Early-Stage Exploration Progress
During the December quarter, Exultant Mining initiated reconnaissance fieldwork across its flagship Peak View and Black Hammer projects in New South Wales. Activities included geological mapping, prospect validation, and extensive rock chip sampling. The company collected 76 samples at Black Hammer and 16 at Peak View, with assays revealing encouraging high-grade mineralisation.
Notably, rock chip samples from the Undoo Creek prospect returned gold grades up to 5.42 grams per tonne, while the historic Big Badja Silver Mine yielded exceptional silver and lead results of up to 256 grams per tonne and 4.82% respectively. These findings corroborate historical exploration data and underscore the projects’ potential.
Strategic Tenure and Land Access
Exultant secured multiple Land Access Agreements across priority areas at Peak View, facilitating planned surface geochemical surveys and geophysical programs. Additionally, the granting of Exploration Licence EL9826, known as "Tuglow," expanded the Black Hammer project footprint, consolidating tenure over the historic Tuglow Copper Mines, which have reported exceptionally high historical grades of copper and precious metals.
Data Integration and Future Exploration Plans
The company has undertaken a comprehensive compilation and digitisation of all historical geological, geochemical, and drilling datasets, converting them into modern spatial coordinates. This effort provides a robust platform for modern interpretation and target generation. Looking ahead, Exultant plans systematic soil sampling, ground geophysics, and targeted drilling at Peak View and Black Hammer, with drilling scheduled to commence late in the first quarter of 2026.
Corporate and Financial Discipline
Exultant reported exploration expenditure of $194,000 during the quarter and related party payments of $17,000 in director and consulting fees. The company remains well-capitalised to execute its exploration strategy, with a clear focus on unlocking value through modern techniques applied to tier-one assets with compelling historical results.
Bottom Line?
Exultant Mining’s early exploration success and strong balance sheet position it well for a pivotal 2026 drilling campaign that could redefine its NSW projects’ potential.
Questions in the middle?
- How will upcoming assay results influence drilling targets and investor sentiment?
- What is the timeline and likelihood for securing remaining land access agreements?
- Can Exultant sustain its cash position given planned exploration expenditure?
