InvestSMART

Riversgold Limited (ASX:RGL)

ALERT: Price-sensitive ASX Announcement for RGL
Current share price for RGL : $0.011 -0.003 (-21.43%)+
Announcement
Release
11 May 2026 9:05AM
Price at Release
$0.014
Full Release
download
Summary
Riversgold Limited (ASX: RGL) has announced a strategic expansion of its Kalgoorlie Gold Project by acquiring tenement P25/2850, located 25 km east of Kalgoorlie, Australia. This acquisition increases the project area by 20% to 10.22 km2. The newly acquired land is significant for its proximity to known gold mineralization and offers essential space for future infrastructure such as waste dumps and processing facilities. The purchase is valued at AUD$75,000, and includes a retained interest by the vendors for prospecting at shallow depths, with an 80/20 mineral recovery split. A 2% royalty on extracted minerals, excluding those under the retained interest, is also part of the deal. This expansion benefits partners in the Northern Zone gold project, Oracle Power Plc and MEGA Resources, and enhances strategic options for future gold mining plans.
Key Points
  • Riversgold acquires tenement P25/2850, increasing Kalgoorlie Gold Project by 20%
  • Kalgoorlie Gold Project is located 25 km east of Kalgoorlie, Australia
  • Total project area now 10.22 km2
  • New tenement provides critical infrastructure space and access routes
  • Purchase agreement includes AUD$75,000 consideration and retained vendor prospecting rights
  • Exploration potential is anticipated on the new ground
  • A 2% royalty applies to minerals extracted, excluding those under vendor rights
  • The acquisition benefits partners Oracle Power Plc and MEGA Resources
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.