Askari Metals (ASX:AS2) has entered 2026 debt-free, having repaid in full its Convertible Note Facility with Lawson Mining as well as the remaining balance of the Series B Redeemable Notes.
Executive Director Gino D’Anna says that the repayment of all corporate debt marks “an inflection point” for the company.
“We now have a clean capital structure, a strong balance sheet, and the financial flexibility to execute on our growth strategy without an overhang on our securities,” D’Anna says.
The company is now preparing to execute its exploration strategy at the Nejo Gold & Copper Project in Ethiopia and the Uis Tin-Tantalum-Lithium Project in Namibia.
A preliminary drill program has been completed for maiden drilling at the company’s flagship Nejo Gold & Copper Project. Initial drilling will target near-surface mineralisation at the Guji, Komto 1, and Komto 2 targets, which together cover an approximate 9km NE-SW mineralised corridor that is open along strike.
Drilling will focus on validating and expanding the known mineralised zones, testing for gold, copper, antimony, and silver.
At Uis, Askari will recommence exploration including soil and stream sediment sampling, trenching across the known pegmatite targets, and begin planned reverse circulation drilling at the pegmatite target.
Results from previous trenching programs have been received and the company will release the results as they become available.
Askari is focused on exploration for battery metals across southern Africa, with its flagship asset, the Nejo Project, in Ethiopia.
Write to Amy Rotman at Mining.com.au
Images: Askari Metals
