Recharge Metals Limited progresses uranium exploration in the USA and Canada while appointing a new director and maintaining disciplined capital management.
- Ongoing permitting at Carter Uranium Project, Montana
- Processing of high-resolution survey at Newnham Lake, Athabasca Basin
- Disciplined evaluation of new exploration and acquisition opportunities
- Appointment of Chris Zielinski as Non-Executive Director
- Cash position at A$0.835 million with controlled operating expenditure
Exploration Momentum in North America
Recharge Metals Limited (ASX – REC) has reported steady progress across its uranium exploration portfolio during the December 2025 quarter. The company continues to advance permitting and access activities at its Carter Uranium Project, located on the northern rim of Montana's Powder River Basin, a region with a strong history of in-situ recovery uranium production. This strategic positioning near existing permitted processing plants, including ASX-listed Peninsula Energy, underscores the project's potential to benefit from established infrastructure and regulatory frameworks.
Meanwhile, in Canada’s Athabasca Basin, Recharge is processing data from a high-resolution magnetic and radiometric survey at its Newnham Lake Uranium Project. Covering approximately 396 line-kilometres, this survey aims to refine geological interpretations and prioritise exploration targets, particularly focusing on basement-hosted uranium mineralisation, a promising avenue given recent advances in understanding the region’s geology.
Strategic Corporate Developments
Alongside technical progress, Recharge Metals has maintained a disciplined and selective approach to capital allocation, carefully evaluating new exploration and acquisition opportunities that align with its growth objectives. This measured strategy reflects an emphasis on technical merit, development pathways, and capital efficiency.
Notably, the company appointed Chris Zielinski as a Non-Executive Director during the quarter. Mr Zielinski brings extensive expertise in corporate law, mergers and acquisitions, and regulatory compliance within the ASX-listed resources sector. His addition to the board follows the resignation of former Non-Executive Chairman Simon Andrew, marking a significant governance transition for Recharge Metals.
Financial Position and Outlook
Recharge Metals closed the quarter with a cash balance of approximately A$0.835 million, down from A$1.28 million in the previous quarter, reflecting ongoing exploration and evaluation expenditures. The company reported net cash used in operating activities of A$337,000 for the period, consistent with its focus on advancing projects while managing costs prudently.
Looking ahead, Recharge anticipates reducing operating cash outflows to preserve capital as it assesses the best avenues for deploying funds across its portfolio. The board remains confident in its ability to raise additional capital to support ongoing exploration and development activities, a critical factor given the company's current funding runway of under two quarters.
Recharge’s commitment to advancing its uranium assets in two of the world’s most prospective regions, coupled with strategic board enhancements and disciplined capital management, positions the company to navigate the evolving uranium market landscape with agility.
Bottom Line?
Recharge Metals is poised at a pivotal juncture, balancing exploration progress with strategic governance and capital discipline as it eyes the next phase of growth.
Questions in the middle?
- When will results from the Newnham Lake geophysical survey translate into concrete exploration targets?
- How quickly can permitting at the Carter Uranium Project advance to enable ground-based exploration?
- What are Recharge Metals’ plans for capital raising to extend its funding runway beyond the near term?