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Basin Energy Limited (ASX:BSN)

ALERT: Price-sensitive ASX Announcement for BSN
Current share price for BSN : $0.029 -0.004 (-12.12%)+
Announcement
Release
9 Jun 2026 8:24AM
Price at Release
$0.033
Full Release
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Summary
Basin Energy Limited announced the application for a new tenement adjacent to their Newmans prospect to expand their rare earth target area. The new tenement application, once granted, will be known as EPM 29556 and is part of the Sybella-Barkly Rare Earth Project in northwest Queensland. The area is considered promising for clay-rich, sediment-hosted, and phosphate-associated rare earth mineralisation. This decision follows recent drilling results at Newmans prospect that confirmed high-grade rare earth mineralisation. Basin Energy remains financially supported following a A$1.1M financing and continues to conduct exploration activities with government funding.
Key Points
  • Basin Energy Limited applies for new tenement EPM 29556.
  • Located adjacent to Newmans prospect in Sybella-Barkly Rare Earth Project.
  • Area considered prospective for clay-rich, sediment-hosted, and phosphate-associated rare earth mineralisation.
  • Recent results at Newmans confirmed high-grade rare earth mineralisation.
  • Project benefits from Queensland's Zero Rent Initiative until 31st August 2028.
  • Basin Energy funded by A$1.1M financing and government support.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.