Reach Resources Strengthens Funding and Advances Murchison South Toward Production
Reach Resources Limited (ASX: RR1) delivered a transformative June 2026 quarter by securing a funded pathway toward production at its flagship Murchison South Gold Project in Western Australia while reinforcing its financial position. The company signed a binding option agreement with Andel Resources covering the Blue Heaven deposit, under which Andel will fund mining, haulage and processing costs through a Right to Mine and Milling arrangement. Blue Heaven’s Mineral Resource increased around 30% to 80,000 ounces at an improved grade of 3.0g/t gold, with metallurgical test work indicating approximately 95% recovery. The company also completed a rights issue, strategic placements and received a non-refundable option fee, raising approximately AU$6.05 million before costs.
Reach further streamlined its portfolio by selling non-core lithium assets to Delta Lithium for AU$800,000, comprising equal cash and share consideration, while retaining exposure to REEcycle, whose proposed Nasdaq listing values the business at US$400 million. Cash and cash equivalents increased to AU$6.531 million at 30 June 2026, providing a strong funding base for continued project development. Exploration and development activities remained focused on advancing Murchison South through engineering studies, mine planning and permitting, positioning the company to accelerate progress toward potential gold production while maintaining financial flexibility.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Reach Resources Strengthens Funding and Advances Murchison South Toward Production
Reach Resources Limited (ASX: RR1) delivered a transformative June 2026 quarter by securing a funded pathway toward production at its flagship Murchison South Gold Project in Western Australia while reinforcing its financial position. The company signed a binding option agreement with Andel Resources covering the Blue Heaven deposit, under which Andel will fund mining, haulage and processing costs through a Right to Mine and Milling arrangement. Blue Heaven’s Mineral Resource increased around 30% to 80,000 ounces at an improved grade of 3.0g/t gold, with metallurgical test work indicating approximately 95% recovery. The company also completed a rights issue, strategic placements and received a non-refundable option fee, raising approximately AU$6.05 million before costs.
Reach further streamlined its portfolio by selling non-core lithium assets to Delta Lithium for AU$800,000, comprising equal cash and share consideration, while retaining exposure to REEcycle, whose proposed Nasdaq listing values the business at US$400 million. Cash and cash equivalents increased to AU$6.531 million at 30 June 2026, providing a strong funding base for continued project development. Exploration and development activities remained focused on advancing Murchison South through engineering studies, mine planning and permitting, positioning the company to accelerate progress toward potential gold production while maintaining financial flexibility.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au