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Highlights
- Revolver Resources has secured AU$500,00 in new funding through the sale of a 1% gross revenue royalty on mineral production from the Dianne Copper Mine Project.
- The royalty agreement covers all six mining leases that make up the Dianne Copper Mine Project.
- The company is advancing its key workstreams and targeting a final investment decision (FID) soon.
- First LME-grade copper cathode production is expected by late 2025.
Revolver Resources Holdings Limited (ASX:RRR) has secured AU$500,000 in new funding through an agreement with Strumbos Trust for the sale of a 1% gross revenue royalty on future production at its North Queensland-based Dianne Copper Mine Project. This will support the company's efforts to recommence operations at the Dianne Copper Mine.
The newly established royalty agreement covers all six mining leases (2810, 2811, 2831, 2832, 2833, 2834) that make up the project.
Image source: company update
The sale of the royalty provides an attractive, non-dilutive and project-level funding solution for shareholders. This ensures that existing shareholders retain their equity while the company secures necessary funds to advance its development plans.
Notably, the company is exploring the possibility of additional royalty sales over the project to other parties.
Project Advancing Toward Key Milestones
The company continues to make progress with its key workstreams at the project, and a Final Investment Decision (FID) is expected soon. Additionally, Revolver is targeting its first production of LME-grade copper cathode by late 2025.
RRR shares were trading at AU$0.033 per share at the time of writing on 30 January 2025.
