Highlights

  • ActivEX ended the September 2026 quarter with $442,000 cash, down from $669,000 at the start.
  • Estimated funding runway stood at 1.95 quarters, below the two-quarter threshold, and the company plans to raise further funds.
  • Rock-chip sampling at Georgetown returned gold and silver results, including 5.81 grams per tonne gold at Leichardt Creek.
  • Three Westgrove rare earth permit applications await a grant decision after statutory agreements were finalised.

Is a small Queensland explorer about to go back to the market? ActivEX (ASX:AIV) told investors its cash fell to $442,000 in the September 2026 quarter and that it intends to raise further funds. Behind that sits a busy field program spanning gold at Georgetown, rare earths at Westgrove and soil sampling at Aramac.

Cash position and funding plans

Cash at the end of the September 2026 quarter was $442,000, down from $669,000 at the start. The figures come from the Appendix 5B cash flow report and accompanying activities report lodged on 28 October 2026.

Net operating cash outflow was $165,000, made up mainly of staff costs of $62,000 and administration and corporate costs of $103,000. A further $62,000 went on exploration and evaluation, the only investing activity. There were no financing cash flows. Payments to related parties totalled $62,000, all of it director fees.

On the company's own calculation, the funding runway stood at 1.95 quarters. That is below the two-quarter threshold that triggers additional disclosures in item 8.8 of the form. In those answers, ActivEX said it expects operating outflows to fall because recent tenement exploration activities have been completed. It plans to raise further funds, describing the raise as achievable based on past experience and its access to funding, though it gave no timetable or size. Management said it expects to continue operations and meet its objectives on the basis of cost reductions and the planned raise.

The company

ActivEX describes itself as a gold and critical minerals explorer in Queensland. It has 312,515,461 ordinary shares on issue. The report put market capitalisation at about $7.18 million, based on a price of $0.023 on 27 October 2026.

Georgetown gold and critical metals

At Georgetown, where the company holds six tenements on a 100 per cent basis, 41 rock samples were assayed during the period. The company highlighted 150 grams per tonne silver alongside high-grade gold at the Comet Prospect in the Bridle Creek area, and 5.81 grams per tonne gold with 221 grams per tonne silver at Leichardt Creek. These are surface rock-chip results, not mineral resources or reserves, and they do not on their own indicate the size or continuity of any mineralisation.

Southern Geoscience Consultants has started AI-based prospectivity modelling over the project. The plan for the 2026/2027 season includes soil sampling, ground geophysics and reverse circulation drilling.

Rare earths and base metals

At Westgrove, ActivEX has lodged three exploration permit applications for rare earth elements (EPMs 29159, 29220 and 29221). The company said statutory agreements have been finalised and it is waiting for a grant decision from the responsible Queensland department.

At Aramac, a base metal and rare earths project held under EPM 28644 on a 100 per cent basis, the first phase of soil sampling covered the northern 8 kilometres of a 55 kilometre target zone. A total of 101 soil samples and seven rock samples were sent to ALS laboratories, and results are pending. The company said it is considering a drone-based magnetic survey.

Gilberton and points to note

The activities section for the Gilberton gold joint venture, which covers four tenements, said "Nothing to Report" for the quarter. Background text in the same document refers to an inferred resource and to a reverse circulation drilling program, so readers should refer to the original document for the current status.

The document also contains some internal differences in figures, including the Comet gold grade, which appears with two different values in different places. The next confirmed milestones are the Aramac laboratory results, the Westgrove grant decision and the capital raising the company has said it plans. None carries a stated date.