NickelSearch Quarterly Report for the period ending 30 June 2024

NickelSearch Limited (ASX: $NIS) has released its Quarterly Report for the period ending 30 June 2024, highlighting significant progress in lithium exploration at the Carlingup Project near Ravensthorpe in Western Australia. The company reported a reduction in corporate costs, assessed various business development opportunities, and held approximately $1.68 million in cash as of 30 June 2024.

NickelSearch Executive Chair Mark Connelly's Commentary

Following numerous board and management changes, the Company has been gradually refocusing towards a more structured and defined lithium exploration plan, with the guidance of our new Exploration Manager, Jon McLoughlin. Jon has undertaken a full review of the Carlingup Project during the Quarter, as well as assessing various business development opportunities that would add value to the Company. At the start of the Quarter, in light of depressed nickel and lithium prices, we undertook a comprehensive cost cutting exercise, with a decrease in personnel and closing of the corporate office. This initiative allows us to focus on adding value through targeted exploration and potential development opportunities. We look forward to releasing further information to the market as we work through Jon's assessment.

Summary of NickelSearch Quarterly Report

NickelSearch Limited (ASX: $NIS) made significant progress in its lithium exploration activities at the Carlingup Project, identifying a substantial lithium in-soil anomaly at Quarry North. The company also reduced corporate costs, assessed business development opportunities, and held approximately $1.68 million in cash as of 30 June 2024. The focus on structured lithium exploration and cost-cutting initiatives reflects the company's commitment to adding value through targeted exploration and potential development opportunities. NickelSearch's outlook appears optimistic as it continues to advance its exploration plan and evaluate avenues for enhancing its exploration portfolio.