Highlights

  • ActivEX Limited reported geochemical results from 99 soil samples and seven rock samples collected across an initial eight-kilometre trend at the Aramac project.
  • Mineralogical analysis identified crandallite-group phosphates in a selected sample, indicating potential rare earth-bearing minerals that Warrant further investigation.
  • The company reported cash holdings of approximately AUD 669,000 at 30 June 2026, while its FY2026 net loss widened to approximately AUD 2.15 million.

ActivEX Limited (ASX:AIV) is an Australian mineral exploration company focused on gold, base metals and critical minerals across Queensland. Its portfolio includes the Aramac project, where exploration is assessing potential rare earth mineralisation, alongside gold and base metal interests at Georgetown and Gilberton. On 3 November 2026, the company reported initial geochemical findings from Aramac, providing new information about the area's mineral composition and identifying targets for further exploration.

What Did the Latest Aramac Sampling Programme Reveal?

ActivEX reported results from a surface sampling programme covering an initial eight-kilometre trend near the Dunns Road prospect within its Aramac project.

The programme involved collecting 99 soil samples and seven rock samples to investigate geochemical characteristics across selected areas.

Reported soil results included manganese concentrations of approximately 800–1,500 parts per million (ppm), barium of 400–1,930 ppm, cobalt of 25–48 ppm and zinc of 150–313 ppm.

Iron concentrations were also elevated in selected samples, providing additional information about the area's weathering and mineralisation characteristics.

For ActivEX Limited (ASX:AIV), the results help identify geochemical patterns that may guide future sampling and drilling.

However, elevated concentrations of these elements do not independently establish economically significant rare earth mineralisation.

What Does the Rare Earth Mineralogy Indicate?

The rare earth exploration potential at Aramac is partly associated with mineralogical observations from a selected iron-rich rock sample.

Automated mineralogical analysis identified crandallite-group phosphate minerals, which can incorporate rare earth elements under certain geological conditions.

The reported mineral occurrence provides a reason for further investigation into the composition and distribution of potentially rare earth-bearing material.

Nevertheless, the identification was based on an individual sample and does not establish the grade, continuity or recoverability of rare earth elements across the broader project.

For ActivEX Limited (ASX:AIV), additional sampling, mineralogical analysis and drilling will be necessary to determine whether the initial findings represent a more extensive mineralised system.

No Mineral Resource or Ore Reserve has been established for the Aramac rare earth opportunity.

Georgetown and Gilberton Add Broader Exploration Exposure

Alongside Aramac, ActivEX maintains exploration exposure to gold and base metals through its Queensland project portfolio.

At Georgetown, rock sampling reported during August 2026 identified elevated gold, silver and base metal values at selected prospects.

These results provide information for evaluating additional exploration targets, although individual rock-chip assays cannot establish the average grade of a deposit.

The company has also indicated that it is assessing potential Partnership or divestment opportunities for Georgetown.

At Gilberton, ActivEX holds a minority joint venture interest, with exploration decisions and expenditure influenced by the operating partner.

For ActivEX Limited (ASX:AIV), these interests provide exposure to several mineral commodities but also introduce competing funding priorities and differing levels of operational control.

FY2026 Financial Performance and Funding Position

ActivEX reported a statutory net loss of approximately AUD 2.15 million for FY2026, compared with approximately AUD 1.04 million in FY2025.

The increase was substantially influenced by Impairment charges associated with exploration and evaluation assets.

At 30 June 2026, the company held approximately AUD 669,000 in cash and cash equivalents.

Total Assets were approximately AUD 1.78 million, while net assets stood at approximately AUD 1.71 million.

The company also completed Equity fundraising during FY2026 to support its operations and exploration activities.

For ActivEX Limited (ASX:AIV), maintaining sufficient funding remains important as it evaluates further exploration across its portfolio.

The FY2026 financial statements identified material uncertainty regarding the company's ability to continue as a going concern, highlighting its dependence on additional financial resources and successful funding arrangements.

What Are the Main Exploration Risks at Aramac?

The Aramac findings remain preliminary and are based on surface geochemistry and limited mineralogical investigation.

Further work is needed to establish whether rare earth elements occur at meaningful concentrations and whether any identified mineralisation extends beneath the surface.

Geochemical anomalies may not translate into economically recoverable deposits.

Additional uncertainties include drilling outcomes, exploration costs, access approvals and the potential requirement for future equity funding.

For ActivEX Limited (ASX:AIV), the absence of an established Mineral Resource means that project scale and economic potential remain undetermined.

What Could Shape ActivEX's Next Exploration Phase?

The company has outlined further surface sampling, regolith mapping and geophysical investigations across the Aramac project.

A proposed drone magnetic survey may assist in identifying geological structures and refining potential exploration targets.

Aircore drilling is also being considered to investigate selected areas beneath the weathered surface.

For ActivEX Limited (ASX:AIV), the next stage will involve determining whether the early geochemical and mineralogical indications can be supported by broader, repeatable exploration results.

Key Insights

ActivEX's latest Aramac sampling programme has identified geochemical patterns and phosphate minerals that warrant further rare earth investigation. However, the findings do not establish rare earth grades, recoverable quantities or a defined mineral resource. Future exploration progress will depend on additional technical results and the company's ability to secure sufficient funding.