Desoto Resources Ltd.
AASX:DES0.12
AUD
0.00
(0.00%)
Desoto Resources Ltd.
ASX:DES
(Australian Securities Exchange)
Recent
price
0.12
P/E
ratio
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div
yld
- -
ROIC.AI
Capital Structure
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- DeSoto Resources Limited (ASX:DES) is an Australia-based mineral exploration company focused on gold, lithium, rare earth elements and base metals in the Northern Territory of Australia and Guinea; its principal activities encompass the acquisition, exploration and evaluation of mineral properties, including gold and battery-metal deposits. The company holds 100%-owned projects such as the Fenix Lithium Gold Project spanning over 345 square kilometers in the Pine Creek Pegmatite Field with three granted tenements; the Fenton Gold Project along the Fenton Shear Zone featuring three granted tenements and three applications; and the Spectrum rare earth elements project incorporating the Quantum REE-Au-Ag Prospect and Vesper Base-Metals Prospect, both within the Fenton area. Incorporated in 2022 and headquartered at 10 Outram Street, West Perth, Western Australia, DeSoto targets prolific mineral regions including the Siguiri Basin and Gaoual Gold Belt in Guinea, where it maintains 18 projects covering more than 1,200 square kilometers. In 2025, DeSoto executed a binding heads of agreement with Fortuna Mining Corp (TSX:FVI) to form an exploration alliance in Guinea's Siguiri Basin via a joint venture company and Guinean subsidiary, enhancing its West African footprint with Fortuna's Birimian terrain expertise; the company expanded aggressively by acquiring a 1,234 square kilometer land package including 14 Siguiri Basin gold projects and three Gaoual projects from Angex Australia, funded by a $4.78 million placement bringing pro forma cash to $8.7 million. Ongoing programs include 51 RC drill holes (5,743 meters) at Dadjan and Tolé projects with assays pending, 124 power auger holes (2,327 meters) at Bofoani ahead of maiden RC drilling, and initial work at newly approved Koba, Nérékoro Sud, Mini and Kassa Est sites; promising results feature soil anomalies to 8.08 g/t Au at Tolé, rock chips to 9.26 g/t Au at Dadjan, and sulphide zones with assays expected at Spectrum's Western Target. DeSoto holds over $15.5 million in cash to support these initiatives across its Guinea and Northern Territory portfolios.