Aguia Resources Limited (ASX:AGR), a multi-commodity company with pre-production phosphate projects in Brazil and gold projects in Colombia, has released its quarterly activities report for the period ending 30 June 2025. The report highlights significant progress at both the Santa Barbara Gold Project in Colombia and the Tres Estradas Phosphate Project in Brazil.
At the Santa Barbara Gold Project, underground exploration development continued with 150.9 meters completed during the quarter. A total of 495 tonnes of material was extracted and processed, yielding 1.82 kg (58 oz) of gold, with sales totaling A$316,607. The company also completed the installation of a 5.5 km water pipeline and associated infrastructure to secure water supply for the mine. Drilling activities included six diamond drill holes for 550.5 meters, with notable intersections including 5.28 g/t Au and 9.8g/t Ag over 0.6m, 25.43 g/t Au and 78.30 g/t Ag over 0.6m, and 15 g/t Au over 0.45m.
In Brazil, a mining and logistics contract was signed on 9 May 2025 for the development of the Tres Estradas mine and ore hauling. The Brazilian Development Bank of the Extreme South of Brazil (BRDE) approved a loan of up to R$15 million (approximately A$4 million) for capital costs related to upgrading processing facilities. The company is currently assessing this funding offer. Subsequent to the quarter’s end, the company announced details on its Brazilian phosphate project, including phosphate pricing, markets, and the business plan for developing oxidised JORC Resources.
Aguia Resources also completed several capital raisings during the quarter, including a $1.5 million placement, a Share Purchase Plan raising approximately $650,000, and a $0.75 million convertible loan. Subsequent to the quarter, an additional $2.2 million was raised via a convertible loan instrument. Operating expenditure for the quarter totaled A$1,388,000, with A$738,000 spent on exploration and evaluation activities. The company’s cash balance at the end of the quarter was $543,000.
