Askari Metals (ASX:AS2) has strengthened its balance sheet by fully repaying its convertible note facility with Lawson Mining and settling all Series B redeemable notes, leaving the company debt-free with no security overhang.
The clean capital structure and strong cash position position Askari to fully fund its near-term exploration programs at its flagship Nejo Gold & Copper Project in Ethiopia and the Uis Tin-Tantalum-Lithium Project in Namibia.
At Nejo, a staged drilling program of up to 20,000m will target near-surface, high-grade gold mineralisation along a ~9km corridor at the Guji, Komto 1, and Komto 2 targets, with the objective of validating historical results and advancing toward a maiden JORC (2012) mineral resource.
Meanwhile, exploration at Uis will recommence along a high-grade tin and tantalum corridor, including trenching, sampling, and RC drilling of priority pegmatite targets, providing exposure to lithium and battery metals amid record tin prices.