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Desoto Resources Ltd. ( (AU:DES) ) has issued an update.
DeSoto Resources has reported a busy December quarter marked by a new exploration alliance and joint venture framework with Fortuna Mining Corp in Guinea’s Siguiri Basin, under which Fortuna may sole-fund up to US$12.5 million over three years to earn a 70% interest in newly acquired permits, while DeSoto’s existing 100%-owned ground remains outside the arrangement. The company completed maiden reconnaissance reverse-circulation drilling at the Dadjan and Tolé prospects, delivering high-grade gold intercepts that support the scale potential of the Tolé Main Zone and surrounding areas, while also advancing first-pass and systematic sampling programs across its broader Siguiri pipeline, maintaining all licences in good standing, securing fresh approvals for new work programs, and bolstering its balance sheet with a A$14 million placement that left it holding $12.7 million in cash at the end of December 2025.
The most recent analyst rating on (AU:DES) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Desoto Resources Ltd. stock, see the AU:DES Stock Forecast page.
More about Desoto Resources Ltd.
DeSoto Resources Limited is an ASX-listed mineral exploration company focused on gold exploration in Guinea’s Siguiri Basin, where it holds a portfolio of applications, reconnaissance and exploration authorisations. The company is advancing multiple targets through drilling, soil and geochemical programs while positioning to retain and expand its ground under ongoing mining cadastre reforms in Guinea.
Average Trading Volume: 542,417
Technical Sentiment Signal: Buy
Current Market Cap: A$49.82M
See more insights into DES stock on TipRanks’ Stock Analysis page.