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Diatreme Resources Limited (ASX:DRX)

ALERT: Price-sensitive ASX Announcement for DRX
Current share price for DRX : $0.011 -0.001 (-8.33%)+
Announcement
Release
8 Jul 2026 8:20AM
Price at Release
$0.012
Full Release
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Summary
Diatreme Resources Limited announced that Sibelco Silica Pty Ltd has exercised a call option to acquire additional shares in their joint venture, Cape Silica Holdings Pty Ltd, providing a $4.4 million funding boost. This transaction brings the total funding to approximately $7.4 million and restores Diatreme’s original 73.2% interest in the joint venture. The funds will be used to advance the Northern Silica Project in Far North Queensland, supporting regional development and the global solar energy market. Diatreme's CEO, Neil McIntyre, acknowledged Sibelco's ongoing support and the potential economic benefits for the region.
Key Points
  • Sibelco Silica Pty Ltd exercises its call option to subscribe for additional shares in joint venture with Diatreme Resources.
  • The transaction generates funding of approximately $4.4 million for the joint venture, Cape Silica Holdings Pty Ltd.
  • Total funding now received is approximately $7.4 million.
  • Diatreme's interest in Cape Silica Holdings reverts to 73.2% after the transaction.
  • The funding will support progress on Far North Queensland silica sand projects, including the Northern Silica Project (NSP).
  • Diatreme's CEO Neil McIntyre appreciates Sibelco's support and highlights the regional economic impact of the NSP.
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.