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Reach Resources Limited (ASX:RR1)

ALERT: Price-sensitive ASX Announcement for RR1
Current share price for RR1 : $0.014 0.005 (55.56%)+
Announcement
Release
24 Jul 2026 8:58AM
Price at Release
$0.009
Full Release
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Summary
Reach Resources Limited's June 2026 Quarterly Activities Report highlights significant developments in the company's operations and financial position. The company entered a binding option agreement with Andel Resources Pty Ltd for a Right to Mine and Milling Agreement at the Murchison South Gold Project, receiving a non-refundable $2 million option fee. The Blue Heaven Mineral Resource Estimate increased by 30% to 80,000 ounces at a grade of 3.0g/t Au. Reach also secured $6.05 million in funding through rights issues and the sale of non-core assets to Delta Lithium, including a $400,000 cash component and Delta Lithium shares. Additionally, Reach holds approximately 4.9% in REEcycle Holdings Inc., which is set to list on Nasdaq, valued at US$400 million. The quarterly Appendix 5B report shows a significant cash inflow, ending the period with $6.531 million in cash.
Key Points
  • Binding option agreement with Andel Resources for Murchison South Gold Project.
  • Received $2 million non-refundable option fee from Andel.
  • Blue Heaven Mineral Resource Estimate increased to 80,000 ounces.
  • Secured $6.05 million through rights issues and asset sales.
  • Investment in REEcycle Holdings, which will list on Nasdaq.
  • End of quarter cash balance of $6.531 million.
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.