Strike Resources Limited
SRK.ASXMaterials
Market Data
$0.024
+0.0%$0.00
0.6x
$0.037
0.00%
-0.4%
Latest Earnings
Quarterly Reports - 30 June 2026
31 July 2026
Strike Resources reported Q2 FY2026 results as a junior explorer with no revenue, managing cash burn of A$1.0M during the quarter while advancing the Apurímac Iron Ore Project in Peru through exploration programs (gravity survey underway, to complete Q3 2026) and negotiating a sale of 28.52% stake for A$5.5M (pending conditions). The company maintains a 27.7% strategic investment in LE Minerals (valued at A$9.6M) which is divesting graphite assets for A$20M, with Strike entitled to A$4.155M in MBM shares upon successful spin-out completion. Key points: Pending sale of 28.52% minority stake in Apurímac Project to JE United Ltd for A$5.5M cash consideration, which would reduce Strike's holding to 51.48% and fund future operations; Comprehensive exploration program underway at Apurímac with gravity survey (Q3 2026 completion), LiDAR, magnetometry, and geological mapping identifying new magnetite/hematite zones and near-surface DSO opportunities; Strategic 27.7% stake in LE Minerals valued at A$9.6M (as at 30 June 2026) with upcoming entitlement to A$4.155M in MBM shares upon successful graphite asset spin-out and IPO completion
Recent Announcements
Quarterly Reports - 30 June 2026
Strike Resources reported Q2 FY2026 results as a junior explorer with no revenue, managing cash burn of A$1.0M during the quarter while advancing the Apurímac Iron Ore Project in Peru through exploration programs (gravity survey underway, to complete Q3 2026) and negotiating a sale of 28.52% stake for A$5.5M (pending conditions). The company maintains a 27.7% strategic investment in LE Minerals (valued at A$9.6M) which is divesting graphite assets for A$20M, with Strike entitled to A$4.155M in MBM shares upon successful spin-out completion. Key points: Pending sale of 28.52% minority stake in Apurímac Project to JE United Ltd for A$5.5M cash consideration, which would reduce Strike's holding to 51.48% and fund future operations; Comprehensive exploration program underway at Apurímac with gravity survey (Q3 2026 completion), LiDAR, magnetometry, and geological mapping identifying new magnetite/hematite zones and near-surface DSO opportunities; Strategic 27.7% stake in LE Minerals valued at A$9.6M (as at 30 June 2026) with upcoming entitlement to A$4.155M in MBM shares upon successful graphite asset spin-out and IPO completion
Quarterly Reports - 31 March 2026
Strike Resources completed a strategic divestment of a further 28.52% indirect stake in its Apurímac Iron Ore Project in Peru to JE United Ltd for A$5.5 million (net A$5.4M), reducing its ownership to 51.48% while unlocking development capital and securing a US$5 million credit facility. The company advanced exploration activities with geological mapping, LiDAR/magnetometry surveys identifying new magnetite/hematite zones outside the current JORC resource, while progressing small-scale artisanal mining operations and development of downstream infrastructure including a port MOU with Naviera Petral. Key points: Secured A$5.5 million (net A$5.4M) cash consideration from sale of 28.52% stake in Apurímac Project, providing working capital for development and maintaining 51.48% ownership with project control; JE United Ltd committed US$5 million credit facility to Apurímac Ferrum for project development, reducing absolute cash commitment required from Strike; Exploration program identified new magnetite/hematite zones outside current JORC resource; high-resolution LiDAR and magnetometry surveys completed with positive results; gravity survey planned for May 2026
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