Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Australian Silica Quartz Group ( (AU:ASQ) ) has shared an announcement.
Australian Silica Quartz Group has agreed to acquire private explorer Australian Kaolin Pty Ltd for $2 million in shares, adding the White Swan Kaolin Project and its inferred 47 million tonne kaolin resource on a newly granted mining lease near the Port of Esperance. The deal, which is subject to shareholder approval and a favourable independent expert report, would also bring experienced director Jamie Cullen onto the ASQ board and retain kaolin specialist James Marsh as a consultant.
ASQ is simultaneously progressing metallurgical-grade silicon quartz exploration near Townsville, high-purity quartz R&D for crucible-grade products, and gold exploration at its Koolyanobbing Metals Project, where soil sampling results are due in the June quarter. The company ended March with $945,000 in cash, no debt and a rural property valued at $2.5 million, and has raised a further $750,000 via a share placement, strengthening its balance sheet to support development of the White Swan DSO kaolin export strategy and broader project pipeline.
More about Australian Silica Quartz Group
Australian Silica Quartz Group is an Australian exploration company focused on silica, high purity quartz, kaolin and associated industrial minerals. The group is advancing projects in Western Australia and North Queensland, targeting supply into export markets for metallurgical-grade silicon, crucible-grade high purity quartz and direct shipping ore kaolin, alongside gold exploration at its Koolyanobbing Metals Project.
Average Trading Volume: 150,186
Technical Sentiment Signal: Sell
Current Market Cap: A$6.2M
See more insights into ASQ stock on TipRanks’ Stock Analysis page.