Norfolk Metals (ASX: $NFL) activities report for the quarter ended 30 June 2024

Norfolk Metals Limited (ASX: $NFL) has released its activities report for the quarter ended 30 June 2024. The company reported a strong cash position of approximately $3.1 million at the end of the quarter. The report includes updates on the Orroroo Uranium Project in South Australia, the Roger River Project in Tasmania, and a corporate update regarding the acquisition of the Los Altares uranium project in Chebut, Argentina.

Executive Chairman's commentary on the quarter's activities

Norfolk has completed an active second quarter for the 2024 calendar year with a strong cash position. Norfolk continued to receive project offers and investment opportunities throughout the quarter and we believe our existing assets will add additional value to the Company as they are further de-risked.

Summary of Norfolk Metals' activities and outlook

Norfolk Metals (ASX: $NFL) reported a strong cash position of approximately $3.1 million at the end of the quarter. The company continued its evaluation of the Orroroo Uranium Project in South Australia and the Roger River Project in Tasmania. Additionally, Norfolk executed an exclusivity deed for the acquisition of the Los Altares uranium project in Chebut, Argentina, but subsequently withdrew its conditional non-binding offer due to inability to complete necessary due diligence and negotiations. The company also completed a placement from strategic investors for A$415,746 via ASX Listing Rule 7.1 capacity. Looking ahead, Norfolk aims to maintain its strong financial position and further de-risk its existing assets to add value to the company.