Overview of Audalia Resources Limited's December 2023 quarterly report

Audalia Resources Limited (ASX: $ACP) has released its quarterly report for the December 2023 quarter. The company reported cash and cash equivalents of $11,000 as of 31 December 2023, following payments for capitalised exploration and evaluation expenditure of $207,000 and payments to related parties and their associates of $34,000 during the quarter. The Medcalf Project, located near Lake Johnston, Western Australia, remains a key focus for the company, with ongoing engagement with the Environmental Protection Agency (WA) for the primary environmental approval process.

Executive commentary on Medcalf Project and corporate matters

The Medcalf Project continues to be a significant area of interest for Audalia Resources Limited. The completion of the soil sampling programme on exploration licence E63/1855 is a crucial step in our exploration activities. We are also actively engaging with the Environmental Protection Agency to ensure compliance with environmental, legal, and permitting requirements. In terms of corporate matters, the company acknowledges its cash position and is assessing funding alternatives to continue exploration and evaluation activities at the Medcalf Project.

Summary of Audalia Resources Limited's December 2023 quarterly report

Audalia Resources Limited's December 2023 quarterly report highlights the completion of a soil sampling programme at the Medcalf Project, as well as ongoing engagement with the Environmental Protection Agency for primary environmental approval. The company reported a cash position of $11,000 as of 31 December 2023, with a focus on funding alternatives to support future exploration and evaluation activities. The Medcalf Project, a vanadium-titanium-iron project, remains a key area of interest, with the company's continued efforts to ensure environmental compliance and progress in exploration activities.