Zenith Minerals Quarterly Activity Report for the Period Ending 30 June 2024

Zenith Minerals Limited (ASX: $ZNC) released its Quarterly Activity Report for the period ending 30 June 2024. The company's near term focus is on gold projects, while its longer term priority lies in the strategic review of its 100% owned Split Rocks and Waratah Well lithium projects in Western Australia. The report also highlights the appointment of Mr Andrew Smith as the new Managing Director, commencing on 31 July 2024.

Executive Commentary

Mr Andrew Smith, the newly appointed Managing Director, brings a proven track record to Zenith Minerals. The company's strategic review of its lithium business has led to a focus on advancing the highly prospective targets identified at both Split Rocks and Waratah Well on a 100% basis. The company believes that this approach will deliver significantly greater value to shareholders. Additionally, the company is assessing options for potential monetization of its gold assets, aiming to maximize returns for its stakeholders.

Summary

Zenith Minerals' focus on gold projects in the near term, along with the strategic review of its lithium business, reflects the company's commitment to delivering value to its shareholders. The appointment of Mr Andrew Smith as the new Managing Director brings a wealth of experience to the company, and his leadership is expected to drive the advancement of the lithium projects and assessment of gold asset monetization. The company's outlook includes a robust prospect exploration pipeline, ongoing work on metallurgical studies, and continued assessment of new opportunities and potential divestments. With a cash balance of $1.1M and sufficient funds to continue its operations, Zenith Minerals remains well-positioned to pursue its corporate strategy and deliver on its business objectives.