Highlights

  • Cassius continued planning for the Soalara Limestone Project and seeking a development joint-venture partner.
  • Environmental studies supported the next stage of proposed Soalara development planning in Madagascar.
  • The Ghana arbitration hearing concluded in June, with post-hearing briefs completed in September 2026.
  • AUD 515,850 of convertible notes converted into fully paid shares during the quarter.

Cassius Mining (ASX:CMD) entered November with attention on its latest project activities and the milestones outlined in its September-quarter reporting. Its shares were priced at AUD .019 on 2 November 2026, up 5.56% in the trading figures for the session. The company’s operational agenda is shaped by several developments that need to be assessed separately: the work completed, the technical evidence gathered and the steps still planned. The distinction is particularly important for an exploration-stage business, where a successful programme may generate targets without establishing a producing asset.

Two Corporate Priorities Shape the Quarter

Cassius Mining continued planning work for its Soalara Limestone Project in Madagascar during the September 2026 quarter while pursuing international arbitration concerning Ghana. The activities report dated 30 October describes a company managing a prospective industrial minerals development alongside a separate legal process. These are distinct workstreams with different timelines, financial implications and uncertainties. Neither should be presented as a completed project development or a resolved arbitration outcome.

Soalara Development Planning Continues

At Soalara, Cassius continued seeking a suitable joint-venture partner for development and eventual mining. Environmental work was also undertaken to support planning for a future development phase and to address considerations relevant to Madagascar’s Ministry of Mines. The company has previously described substantial limestone resources at varying purity cut-offs, but the development route remains subject to commercial arrangements and further decisions. Securing a partner is a target rather than an accomplished transaction.

Ghana Proceedings Await Tribunal Determination

Cassius commenced international arbitration through its Ghanaian Subsidiary in February 2023. The final in-person hearing took place at the Peace Palace in The Hague from 15 to 19 June 2026, with post-hearing briefs completed on 26 September 2026. The process had therefore moved beyond the hearing stage by the latest quarterly report. An eventual tribunal determination remains uncertain in timing and outcome, and no award should be assumed before an official decision is delivered.

Convertible Notes and Forward Priorities

During the September quarter, AUD 515,850 of convertible notes were converted into fully paid shares. The company reported an annual Interest Rate of 14% on the notes and AUD 89,119 of interest accrued during the period. Exploration expenditure was AUD 64,000, including environmental studies and project generation. Management’s near-term agenda remains the pursuit of a Soalara development partner and the progression of arbitration, with both matters carrying conditions outside the company’s direct control.

On 2 November 2026, Cassius Mining shares traded at AUD .019, gaining 5.56%. The session high was AUD .019 and low AUD .018. Market Capitalisation was approximately AUD 17.32 million, while the one-year change was -35.83%. These market figures describe trading performance and should not be confused with operational results.