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Reach Resources Limited (ASX:RR1)

ALERT: Price-sensitive ASX Announcement for RR1
Current share price for RR1 : $0.013 0.002 (18.18%)+
Announcement
Release
16 Jun 2026 9:21AM
Price at Release
$0.011
Full Release
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Summary
Reach Resources Limited has successfully secured additional funding amounting to $800,000 through the sale of non-core assets. This includes $400,000 in cash and $400,000 in shares of Delta Lithium, which the company sees as having significant potential for capital growth. This transaction not only provides financial benefits but also eliminates future holding costs associated with these non-core assets. With these funds, Reach is well-positioned financially to accelerate its work at Murchison South and explore other opportunities. The sale and subsequent termination of the joint venture agreement with Delta Lithium, related to the Morrissey Hill and Camel Hill Lithium Projects, further stabilize and strengthen Reach’s financial standing.
Key Points
  • Additional $800,000 secured from sale of non-core assets.
  • $400,000 in cash and $400,000 in Delta Lithium shares.
  • Retains exposure to future upside through Delta Lithium shareholding.
  • Removes future expenditure commitments and holding costs.
  • Strengthens funding position to advance Murchison South.
  • Termination of Joint Venture Agreement with Delta Lithium.
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.