Right Resources Finalizes Issuance of 16.7 Million Shares to Complete Placement Funding Round

Right Resources Completes Share Placement Settlement in Accordance with Corporate Governance Standards

On 17 July 2026, Right Resources Limited completed the settlement of its placement by issuing 16.7 million fully paid ordinary shares. This placement, originally announced on 9 July 2026, represents the final phase of the company's capital raising initiative. The issuance was conducted without disclosure to investors, relying on Section 708A(5) of the Corporations Act 2001, which facilitates certain share issuances under specific regulatory conditions.

The shares were issued under the company’s existing placement capacity as per ASX Listing Rule 7.1, eliminating the need for shareholder approval. This capacity permits listed companies to issue shares up to a defined percentage of issued capital without prior shareholder consent, provided all regulatory and continuous disclosure obligations are met.

Regulatory Compliance and Section 708A Cleansing Notice Confirmation

Right Resources issued a formal cleansing notice under Section 708A(5)(e) of the Corporations Act 2001, affirming compliance with all mandatory regulatory requirements governing the placement. The company confirmed adherence to Chapter 2M, which manages continuous disclosure obligations, and Sections 674 and 674A, relating to financial reporting and directors’ duties respectively.

The notice also confirms that no excluded information exists as of the date of issuance in accordance with Sections 708A(7) and (8) of the Corporations Act 2001. Excluded information refers to material information not generally available that could affect the securities’ price or value. This ensures the placement complies with exceptions to the prohibition on offering securities without a prospectus or product disclosure statement.

Extensive Portfolio of Gold, Copper, and Critical Minerals Assets

Right Resources Limited holds a substantial portfolio of mineral exploration tenements totaling 2,459 square kilometres across the Tumbarumba and New England regions in New South Wales. Both regions are historically significant goldfields and mineral provinces, positioning the company to leverage existing mineral endowments and historical exploration success.

The company’s flagship asset, the Pilot Project in Tumbarumba, is a high-grade gold target with a history of underground production averaging approximately 38 grams per tonne of gold. Right Resources is advancing this project through a maiden diamond drilling program in partnership with the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania, reflecting a science-driven exploration approach.

Blue Prospect Tungsten Discovery Enhances Critical Minerals Strategy

In addition to gold assets, Right Resources has identified the Blue Prospect tungsten discovery, adding a critical minerals dimension to its portfolio. Tungsten is recognized as a critical mineral vital to modern industrial applications and supply chains. This discovery broadens the company’s strategic focus beyond precious metals to include critical minerals exploration.

The inclusion of critical minerals aligns with market trends emphasizing diversification into minerals essential for manufacturing, renewable energy, and defense sectors. The Blue Prospect deposit positions Right Resources to capitalize on both traditional gold exploration and the growing critical minerals market, potentially enhancing investment appeal and revenue diversification.

Rapid Capital Raise and Market Context

The placement completed within approximately eight days from its announcement on 9 July 2026 to settlement on 17 July 2026, indicating strong investor interest and efficient capital raising. Utilizing placement capacity under Listing Rule 7.1 is a common method for mineral exploration companies to secure funding for ongoing activities.

The issuance of 16.7 million shares significantly expands the company’s issued capital. While the placement price and total capital raised were not disclosed, investors may consider the impact on shareholding structure and dilution. Proceeds are expected to fund exploration activities, including the Pilot Project’s diamond drilling program.

Collaboration with University of Tasmania’s CODES on Pilot Project Advancement

The maiden diamond drilling program at the Pilot Project, conducted in collaboration with CODES at the University of Tasmania, demonstrates a rigorous and academically supported exploration strategy. CODES specializes in ore deposit and earth sciences, providing advanced analytical expertise to guide drilling design and interpret results.

This program marks a critical step toward resource definition and evaluation, as diamond drilling yields core samples essential for assessing grade, mineralization style, alteration, and structural controls. The collaboration underscores the company’s commitment to a scientifically robust exploration methodology, enhancing result credibility and supporting future capital raising efforts.

Large Tenement Portfolio Offers Exploration Flexibility in Historic Goldfields

Controlling 2,459 square kilometres of mineral exploration tenements across historically significant goldfields in Tumbarumba and New England provides Right Resources with considerable exploration optionality. The portfolio includes multiple assets at varying exploration stages, enabling strategic capital allocation to the most promising targets.

These regions have documented histories of gold production and mineral discoveries, underpinning the company’s exploration potential. Investors are likely to monitor drilling outcomes at the Pilot Project and developments related to the Blue Prospect tungsten asset as indicators of the portfolio’s value.

Ensuring Regulatory Compliance and Shareholder Protection in Share Issuance

Right Resources’ confirmation of compliance with Chapter 2M of the Corporations Act 2001 addresses continuous disclosure requirements, ensuring transparency to shareholders and investors. Compliance with Sections 674 and 674A reinforces adherence to financial reporting standards and directors’ duties, safeguarding shareholder interests and market integrity. The Section 708A(5)(e) notice enhances market transparency regarding the share issuance regulatory framework.

The cleansing notice process protects investors by verifying regulatory compliance and confirming the absence of material undisclosed information. This administrative procedure provides assurance that the placement was lawfully conducted and that all material information has been disclosed. The company’s adherence to these procedures highlights its commitment to regulatory standards and shareholder protections.

Upcoming Exploration Milestones and Investor Focus Areas

Following the placement completion, the next key milestone is the release of results from the Pilot Project’s maiden diamond drilling program. These results will offer vital insights into the continuity, grade distribution, mineralization characteristics, and economic potential of the gold deposit. Investors will closely watch announcements related to drilling outcomes and interpretative analyses from Right Resources and CODES.

Additionally, investors may track updates on the Blue Prospect tungsten asset, including exploration results and feasibility studies. Further exploration activities across the company’s 2,459 square kilometre tenement portfolio are also anticipated. Capital deployment from the recent placement will be reflected in these ongoing exploration initiatives. Successful resource definition and demonstration of economic mineralization will be critical drivers of shareholder value creation.