Bekanntmachung • Apr 29
Diatreme Resources Limited, Annual General Meeting, May 29, 2026 Diatreme Resources Limited, Annual General Meeting, May 29, 2026. Location: at room b, level 1,christie conference spaces, 320 adelaide street, brisbane qld 4000 Australia Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: AU$0 (vs AU$0 in FY 2024) Full year 2025 results: EPS: AU$0 (in line with FY 2024). Net loss: AU$745.0k (loss widened 70% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 01
Independent Non-Executive Director recently sold AU$54k worth of stock On the 31st of October, Cheng Wang sold around 3m shares on-market at roughly AU$0.019 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 29
First half 2025 earnings released: EPS: AU$0 (vs AU$0 in 1H 2024) First half 2025 results: EPS: AU$0 (in line with 1H 2024). Net loss: AU$727.8k (loss narrowed 14% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Bekanntmachung • Apr 17
Diatreme Resources Limited, Annual General Meeting, May 22, 2025 Diatreme Resources Limited, Annual General Meeting, May 22, 2025. Location: room e, level 1, christie conference spaces, 320 adelaide street, brisbane qld 4000 Australia Reported Earnings • Mar 08
Full year 2024 earnings released: EPS: AU$0 (vs AU$0.003 in FY 2023) Full year 2024 results: EPS: AU$0 (down from AU$0.003 in FY 2023). Net loss: AU$439.5k (down 104% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (27% accrual ratio). Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m (AU$474k revenue, or US$296k). Minor Risk Market cap is less than US$100m (AU$105.2m market cap, or US$65.5m). Bekanntmachung • Nov 27
Diatreme Resources Limited Appoints Tom Cutbush as Non-Executive Director Diatreme Resources Limited appointed globally experienced mining executive, Mr. Tom Cutbush as a Non-Executive Director, a move that adds global silica sands industry expertise to the Company's Board amid Diatreme's development drive at its Far North Queensland silica sand projects. Mr. Cutbush brings more than 30 years of executive management and board experience in Australian and international companies, with a strong track record of delivering successful mining projects including in the global silica sands industry. Currently serving as a director of Sibelco Australia, Mr. Cutbush's previous roles at the global material solutions leader include Chief Executive Officer of Sibelco Europe and Global Operations Manager, Sibelco Group, highlighting his vast experience in the international silica sands industry. Mr. Cutbush is a nominee of Sibelco Asia Pacific, one of Diatreme's largest shareholders (circa. 22% equity stake) and the key joint venture partner in the Company's silica sand projects. Mr. Cutbush worked for 15 years at Exxon including in the Hunter Valley, NSW as mine manager, sales and marketing manager, before becoming Korea/Japan sales manager. He then switched to industrial minerals with his appointment as Managing Director of Normandy Industrial Minerals, ultimately leading its divestment to Unimin Corporation and then the acquisition and integration of ACI Industrial Minerals silica holdings to create Unimin Australia and Asia - the region's largest industrial minerals company. Mr. Cutbush joined Sibelco in 2007, serving in various senior leadership positions before retiring from executive management in 2020, but remaining a director of Sibelco Australia. Bekanntmachung • Oct 09
Diatreme Resources Limited Announces Board Changes Diatreme Resources Limited has appointed globally experienced mining business leader and executive Mr. Brian Flannery as a Non-Executive Director. Mr. Flannery's expertise will be instrumental as Diatreme advances toward silica sand production in Far North Queensland, producing the high-purity materials crucial to the global solar power revolution. With more than 40 years' global experience as a mining engineer, Mr. Flannery has a track record of successful resources development with expertise in all aspects of project management. He has recently focused on growing his own family office with interests spanning resources, energy and property development. Diatreme has also appointed current Non-Executive Director Ms Kara Keys as Deputy Chairperson, reflecting the companies strong commitment to stakeholder engagement, particularly with Traditional Owners. Appointed in July 2023, Ms Keys has a strong board and financial background, having previously served as a trustee director at Cbus Super, energy provider Powerlink and asset manager United Super Asset Management. A proud descendant of the Yiman and Gangulu peoples of Central Queensland, Ms Keys has also worked closely with Indigenous communities, including serving as National Indigenous Officer at the Australian Council of Trade Unions. Bekanntmachung • Sep 18
Diatreme Resources Limited (ASX:DRX) acquired Metallica Minerals Limited (ASX:MLM) from Ilwella Pty Ltd and Sibelco Asia Pacific Pty Ltd for AUD 28 million. Diatreme Resources Limited (ASX:DRX) made an offer to acquire Metallica Minerals Limited (ASX:MLM) from Ilwella Pty Ltd and Sibelco Asia Pacific Pty Ltd for AUD 28 million on February 16, 2024. exchange ratio for the consideration is 1.3319. As of May 21, 2024 minimum tender condition was fulfilled. As of May 24, 2024 Diatreme Resources Limited is encouraging all Metallica shareholders to Accept the Offer and has amassed a 57 per cent stake in Metallica, Turning the deal hostile. Transaction is expected to complete on June 11, 2024. As of announcement on June 3, 2024, the deal is expected to be completed on June 14, 2024. As of July 4, 2024, Diatreme Resources holds 71.28% stake in Metallica Minerals and the offer will get closed on July 9, 2024. As of Diatreme Resources holds 79.67% stake in Metallica Minerals and the offer will get closed on July 23, 2024. Transaction has been approved by Diatreme Resources Limited's Board of director's. Transaction will be completed on August 6, 2024. As on July 24, 2024, Diatreme Resources has now acquired a relevant interest in more than 90% of Metallica Shares and more than 75% of the Metallica Shares that it offered to acquire under the Offer. The Offer is due to close on 6 August 2024 and will not be extended further by Diatreme. Subject to the terms of the Offer, Metallica Shareholders who accept the Offer before the closing date will receive the Offer Consideration within 10 Business Days of acceptance. Given Diatreme’s relevant interest in Metallica is now more than 90%, Diatreme will seek to compulsorily acquire any outstanding Metallica Shares. As on August 16, 2024, Metallica Minerals will be removed from the Official List at the close of trading on Friday, 16 August 2024, following compulsory acquisition of its remaining securities by Diatreme Resources Limited.
KPMG Financial Advisory Services (Australia) Pty Limited acted as Financial advisor and Mccullough Robertson Lawyers and GRE Capital Pty Ltd acted as legal advisor to Diatreme Resources Limited (ASX:DRX). Jones Day (Australia) acted as legal advisor to Ilwella Pty Ltd and Market Eye Pty Ltd acted as registrar to Diatreme. Rodd Levy and Jason Jordan of Herbert Smith Freehills acted as legal advisor to Diatreme Resources.
Diatreme Resources Limited (ASX:DRX) completed the acquisition of Metallica Minerals Limited (ASX:MLM) from Ilwella Pty Ltd and Sibelco Asia Pacific Pty Ltd for AUD 28 million on September 18, 2024. As at close of the takeover offer period on 6 August 2024, Diatreme Resources Limited had a relevant interest in 92.7% of Metallica Minerals Limited shares. Following completion of the compulsory acquisition process, Diatreme Resources Limited now has a relevant interest in 100% of Metallica Minerals Limited shares. Reported Earnings • Aug 31
First half 2024 earnings released: EPS: AU$0 (vs AU$0 in 1H 2023) First half 2024 results: EPS: AU$0 (in line with 1H 2023). Net loss: AU$849.2k (loss narrowed 25% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jul 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (28% accrual ratio). Revenue is less than US$1m (AU$469k revenue, or US$317k). Minor Risks Profit margins are more than 30% lower than last year (2,213% net profit margin). Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$93.2m market cap, or US$63.1m). Bekanntmachung • Jul 10
Diatreme Resources Limited Announces the Resignation of Gregory Barry Starr as Non-Executive Director Diatreme Resources Limited announced that Mr. Gregory Barry Starr has resigned as a Non-Executive Director and each Company subsidiary he is an officer. Following Mr. Starr's resignation, the Company will continue to have four Non-Executive Directors, with Mr. Swan as Non-Executive Chairman, together with Michael Chapman, Kara Keys and William Wang. Bekanntmachung • Apr 23
Diatreme Resources Limited, Annual General Meeting, May 23, 2024 Diatreme Resources Limited, Annual General Meeting, May 23, 2024, at 13:00 E. Australia Standard Time. Location: Room E, Level 1, Christie Conference Spaces, 320 Adelaide Street Brisbane Queensland Australia Agenda: To receive and consider the financial statements of the Company and the reports of the directors and Auditors for the financial year ended 31 December 2023; to consider remuneration report; to consider re-election of director Cheng Wang; to consider election of director Karalyn keys; to consider increase in non-executive directors' fee pool; to consider approval of omnibus incentive plan; to consider approval of 10% placement facility; and to consider other issues. New Risk • Mar 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 72% Last year net profit margin: 4,520% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (72% net profit margin). Market cap is less than US$100m (AU$78.3m market cap, or US$51.6m). Reported Earnings • Sep 03
First half 2023 earnings released: EPS: AU$0 (vs AU$0 in 1H 2022) First half 2023 results: EPS: AU$0 (in line with 1H 2022). Net loss: AU$1.14m (loss narrowed 22% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (31% accrual ratio). Revenue is less than US$1m (AU$426k revenue, or US$276k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$85.8m market cap, or US$55.5m). Board Change • Jul 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Chairman Wayne Swan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Jul 22
Diatreme Resources Limited Appoints Ms Kara Keys as Non-Executive Director Diatreme Resources Limited has appointed Ms Kara Keys as a Non-Executive Director, assisting Diatreme in its continued focus on the economic empowerment of the regional communities encompassing its Far North Queensland high purity silica sand projects. Ms Keys has a strong board and financial background. Her financial experience includes previous roles as a trustee director at Cbus Super energy provider Powerlink and asset manager United Super Asset Management and as a director of the Australian Institute of Superannuation Trustees. Her advocacy work includes having served as chair of peak women's organisation Women in Super, an NPO dedicated to improving women's retirement outcomes, together with being a director and principal consultant of KTL Collective, which works to build coalitions for meaningful change in First Nations communities. Ms Keys has worked closely with Indigenous communities, including serving for six years as a National Campaign Director and prior to that as the National Indigenous Officer at the Australian Council of Trade Unions. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (44% accrual ratio). Revenue is less than US$1m (AU$110k revenue, or US$74k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (3.7% increase in shares outstanding). Market cap is less than US$100m (AU$100.7m market cap, or US$67.2m). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: AU$0.001 (vs AU$0.001 loss in FY 2021) Full year 2022 results: EPS: AU$0.001 (up from AU$0.001 loss in FY 2021). Net income: AU$4.98m (up AU$7.13m from FY 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Board Change • Mar 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Wayne Swan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Jan 11
Diatreme Resources Limited Announces Drilling Results Increase Potential for Significant Resource Expansion At Northern Silica Project Diatreme Resources Ltd. has made progress in its efforts to expand resources at its Northern Silica Project (NSP) in far north Queensland. Positive results from infill and step out drilling at the Si2 deposit in 2022 confirmed the continuity and quality of silica sand in the dune system. Recent and pending results in the Point Lookout Track (PLT) area will build on previous exploration efforts to enable a north-west extension of the Si2 resource in coming months. The results have improved confidence in the NSP, raising the prospect of a significant upgrade to the mineral resource including quantum and confidence. Diatreme is currently conducting a detailed scoping study, including economics and logistics of the Si2 dune system (Northern Silica Project), which is due in late First Quarter 2023. Engagement with Traditional Owners and other members of the local community has continued to be at the forefront of Diatreme's exploration campaigns, with the Diatreme working closely with Native Title representatives to ensure maximum community benefits while minimising environmental impacts. In August 2022, Diatreme resumed exploration at the NSP with the goal of defining an extension to the Si2 resource. The company used low-impact access methods, including a small footprint track-mounted, air core drilling rig and hand augers, to drill along parallel dune ridge lines spaced 200-400m apart. The depth of the holes was generally determined by the water table, which forms the base for resource models and aligns with proposed mine extraction criteria. The program also included auger sampling for infill sampling. Results from the first 76 of 82 holes in the current drilling program showed sand of a similar quality to the established Si2 resource, with the remaining results expected in early March. Exploration has extended the known high purity silica sand dune system to a length of 6.8km and width of up to 2.4km, covering an area of over 1,200 ha. Once the assay results for the current phase of drilling are complete, along with the inputs from the recent LiDAR survey, the confidence and size in the Si2 resource is expected to increase. Casuarina Drilling Advance: The northern end of the Casuarina dune system is currently mined by Cape Flattery Silica Mines (CFSM), Diatreme Resources holds balance of this dune system. The current mining lease boundary was established over 50 years ago when ML 2806 was applied for in 1970.Preliminary hand auger drilling at the southern end of the dune system has produced average SiO2 results similar to those of the high purity silica sand within the Si2 dune system. Drilling will continue into early 2023 during the wet season. In line with Diatreme's environmental protocols, hand auguring is initially utilised to establish sand quality andcontinuity whilst minimising site disturbance, with access gained by walking to sites. Initial environmental surveys for air core drilling in the area are planned for 2023. Historic drilling at the northern end of the target along the current CFSM lease boundary found sand dune thicknesses ranging from 15m to 48m, with an average of 28m. Drilling in 2023 will aim to confirm sand quality, dune thickness, and continuity across the Casuarina dune. The PLT dune system consists of a series of smaller, older dunes to the northwest of the Si2 dune system that have been remobilised into erratic dunes by more recent wind activity. Assay results from the final round of step- out drilling showed an average depth of 3.5m in 16 hand auger holes. The remaining results for 89 hand auger holes are expected in early March and will be used to model the dunes and link the PLT area to the Si2 resource estimates. Further drilling is planned for PLT in the coming months to link the Western Dune Ridges and expand northwest along the dominant dunes. The Hopevale Project comprises four (4) exploration tenures covering 60km from Nob Point to Point Lookout, including Cape Bedford and Cape Flattery. Cooktown and Hope Vale provide a base for regional support for exploration efforts throughout the project area. EPM 17795 "Cape Bedford" was recently renewed by Queensland's Department of Resources for a five-year term. Diatreme has been conducting extensive exploration programs and is required to relinquish 50% of the EPM by June 2026 under the renewal conditions (standard terms). The company is using this ongoing exploration to assess the various dune systems and identify priority targets for resource evaluation. In July 2022, Diatreme submitted two Mining Lease Applications and four Infrastructure MLAs covering the Si2 and Casuarina dune systems. The company is committed to following its ESG principles and aligning with Australia's 2022 Critical Minerals Strategy, which recognises the importance of silica in reducing global carbon emissions. The exploration reported follows the recent establishment of a new, high-grade silica sand resource at Si2 North, bringing Diatreme 's total resource to nearly 200 million tonnes of high- grade silica across the Si2 North and Galalar Silica Sand Project (GSSP). Bekanntmachung • Oct 21
Diatreme Resources Limited Announces Revised Export Pathway Advances for Galalar Project Diatreme Resources Limited following from an announcement has now further advanced the planned export pathway for its Galalar Silica Sand Project (GSSP), with the Company focused on minimizing marine environmental impacts and de-risking approval processes. Diatreme plans to progress an application for an alternate product delivery corridor, via a northern pipeline route, predominantly through its current exploration tenure area EPM 17795 for silica product delivery from the mine site to the designated port area of Cape Flattery. The proposed northern pipeline route ensures consistency with the current regulatory framework under the Sustainable Ports Development Act 2015 and Reef 2050 Plan surrounding marine development outside of designated or major port areas. The revised project will further reduce marine environmental impacts, reduce marine fuel consumption and emissions from barges and potentially reduce transportation costs associated with product delivery to port (subject to final studies), for the benefit of project economics. Diatreme previously signed a Memorandum of Understanding (MOU) with government-owned corporation Far North Queensland Ports Corporation (Ports North), the relevant port authority for the Port of Cape Flattery, concerning planned silica exports from Diatreme's Northern Silica Project (NSP). The Company is working with Ports North to identify the best logistical solution for all stakeholders, as part of its extensive consultation with regulatory and permitting agencies, both State and Federal. Recognising the extensive environmental, social and community impact studies already undertaken as part of the Galalar Draft EIS process to date, Diatreme is working with regulatory agencies to finalize the approval pathway for the revised project. This may provide additional opportunities for a more streamlined environmental authority (EA) process rather than a new or revised environmental impact statement (EIS) process. Given the compelling economic positives already identified by Diatreme in the alternate northern product delivery route directly through to Cape Flattery port, and to provide greater certainty in the Projects transition to development through the permitting and approvals process the Company has requested the withdrawal of MLA 100285 (an application) with the responsible regulator (Queensland's Department of Resources), which encompassed road access and marine infrastructure (barge ramp) to an area known as "Nob Point". Immediate commencement of this process will allow the revised application to be lodged promptly. The next steps for the project will include the lodgment of a new Mining Lease (Infrastructure) application to facilitate the amended export corridor, adding to the recent lodgment of MLA's for the Northern Silica Development. The company is progressing further new drilling and exploration programs at the NSP, with the aim of increasing Diatreme's combined high-grade silica sand resource. Diatreme now plans the following activities to further progress the development of its silica sand projects: Review and undertake lodgment of revised MLA (Infrastructure) for the northern transport option to facilitate a low disturbance, small diameter (300-500mm) pipeline; MLA (infrastructure) lodgment anticipated within first quarter 2023; Finalise discussions with State and Federal regulatory agencies to facilitate the GSSP project approval pathway for the revised project; Revision of any required Galalar PFS or DFS studies; Further rapid advancement of the NSP, in parallel with Galalar's development. The latest advances by Diatreme follow the announcement of a strategic partnership with global material solutions company, Sibelco. Diatreme is now well placed to advance its silica sand projects, with the benefit of Sibelco's international networks and its technical, processing and marketing expertise. Bekanntmachung • Sep 16
Diatreme Resources Limited Identifies Further Export Optionality At Galalar Project Diatreme Resources Limited identified an additional potential transport pathway for exports from its Galalar Silica Sand Project (GSSP) predominantly through its existing EPM 17795 to the Port of Cape Flattery, potentially providing enhanced permitting and approvals certainty while reducing marine impacts and transport costs. The move follows the Company's signing of a Memorandum of Understanding (MOU) with government-owned corporation Far North Queensland Ports Corporation (Ports North), the relevant port authority for the Port of Cape Flattery, concerning planned silica exports from Diatreme's Northern Silica Project. Diatreme is assessing the best outcomes for GSSP's development and is consulting with regulatory and permitting agencies, both State and Federal, about the new potential alternative export pathway. The new export corridor is consistent with the Sustainable Ports Development Act and Reef 2050 Plan as it confines marine barging and loading operations to the existing port limits, which are already excluded from the Great Barrier Reef Marine Park. The establishment of an alternative export corridor for the Company's most advanced project, the GSSP has the potential to provide a number of benefits: · Greater regulatory and permitting certainty (de-risking approvals process); · Leverages and builds on the existing EIS permitting studies and extensive regional stakeholder engagement, whilst potentially allowing for a simpler permitting pathway via an EA process; · Significant reduction in carbon emissions from the use of a low impact slurry pipeline compared to barging from Nob Point to the Port of Cape Flattery; · Potential for enhancing fundamental economics by reducing costs of production and transport of product to market. · Potential for examination of higher product processing targets (product delivery tonnage) · Potential for cost saving initiatives from sharing of associated delivery infrastructure Investigation of the pipeline corridor alignment, the use of open access infrastructure at Cape Flattery Port and undertaking barging and shipping activities within the port limits will form part of further studies, including revised economics, environmental, project planning and other matters of practical implementation. Diatreme is advancing the GSSP and NSP in parallel, allowing for the development of two high-grade silica sand mining operations. Diatreme's ESG principles govern its delivery of low impact projects, aligned to Australia's 2022 Critical Minerals Strategy, which recognises the importance of silica in the transition to lower global carbon emissions. The NSP involves the establishment and operation of a high-grade silica sand mining operation, with the ability to export product via the Port of Cape Flattery. Whilst the GSSP remains more advanced in terms of the permitting, approvals and financial studies process, Diatreme has identified considerable synergies with the NSP, including the shared use of product export methodologies and associated infrastructure, the use of shared plant and equipment and the use of hybrid power solutions such as solar, wind and hydrogen to minimise the Company's carbon footprint. The recent signing of a non-binding MOU with Ports North (whilst specific to the NSP) has allowed for effective planning, project design, establishment of key capital cost parameters and related matters, including further investigation of onshore and offshore infrastructure, land access, shipping activities and review of approvals documentation. As these matters progress and Diatreme continues its internal economic and development assessments, broader development options are being explored to ensure Diatreme achieves its objective of becoming a tier one asset developer of scale with the lowest possible quartile production costs. Diatreme now plans the following activities to further progress the development of its silica sand projects: Review lodgment of revised MLA (Infrastructure) for the northern pipeline transport option; Finalise discussions with State and federal regulatory agencies to facilitate the GSSP delivery option decision making process; Revision of any required Galalar PFS studies and environmental studies; Further rapid advancement of the NSP, in parallel with Galalar's development. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: AU$0 (vs AU$0 in 1H 2021) First half 2022 results: EPS: AU$0 (vs AU$0 in 1H 2021). Net loss: AU$1.46m (loss widened 45% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Bekanntmachung • Aug 18
Diatreme Resources Limited Signs MOU with Ports North on Northern Silica Project Diatreme Resources Limited has advanced its emerging Northern Silica Project, signing a Memorandum of Understanding with government-owned corporation Far North Queensland Ports Corporation . Ports North is the relevant port authority for the Port of Cape Flattery, currently used by Cape Flattery Silica Mines for the export of its silica product. The MOU will spur the development of Diatreme's second high-grade silica project as the Company progresses further resource drilling, feasibility studies and traditional owner negotiations for the NSP. Significantly, the MOU outlines key terms of co-operation to advance and facilitate exports from the NSP via the state-owned port. The agreement follows Diatreme's recent lodgement of two Mining Lease Applications and four Infrastructure MLA's for its Northern Silica Development, located near the Port of Cape Flattery. Diatreme has completed initial project concept studies and investigations and intends to undertake further development investigations in connection with its NSP, which currently has proven reserves in excess of 124mt Whilst non-binding, the MOU facilitates the exchange of commercially sensitive project information between the parties and enables Diatreme to access key senior executives from Ports North to facilitate effective planning, project design, establishment of key capital cost parameters and related matters. Ports North is a government-owned corporation as defined in the Government Owned Corporations Act 1993. It is charged with the administrative, managerial and operational responsibilities for the Port of Cape Flattery, pursuant to section 274A, Transport Infrastructure Act 1994 and the Transport Infrastructure Regulation 2016. The NSP involves the establishment and operation of a high-grade silica sand mining operation, with the ability to export product via vessels utilising the port. The project may involve trans-shipping and/or direct loading of bulk carrier vessels and the construction and operation offshore structures. The precise location and layout of supporting infrastructure is yet to be finalised. MOU Facilitation Activities: Ports North and Diatreme will share information and conduct studies as agreed to progress the NSP. These activities will include but are not limited to the following: onshore and offshore infrastructure; access to land - onshore and offshore, including seabed leases, commercial agreements; shipping activities and ship simulation studies; review of any required government approvals documentation. Diatreme looks forward to working with Ports North to release the economic and social benefits of the project for the benefit of its shareholders, the people of Queensland and particularly the regional communities in which it operates, including Traditional Owners. Diatreme is advancing the NSP and Galalar Silica Project in parallel, allowing for the development of two high-grade silica sand mining operations. Diatreme's ESG principles govern its delivery of low impact projects, aligned toAustralia's 2022 Critical Minerals Strategy, which recognises the importance of silica in the rapid transition to lower global carbon emissions. The latest advances by Diatreme follow the announcement of a strategic partnership with global material solutions company, Sibelco. The two partners have agreed on a joint venture to develop the Galalar Silica Project and Northern Silica Project, supported by a significant initial investment from Sibelco of $35 million, subject to regulatory approvals. Bekanntmachung • Jul 05
Diatreme Resources Limited Announces Mining Lease Applications Lodged for Northern Silica Project Diatreme Resources Limited announced lodgement of two Mining Lease Applications (MLA's) and four Infrastructure MLA's for its Northern Silica Development, located near the Port of Cape Flattery in Far North Queensland. The proposed MLA's cover the entire Si2 and Casuarina dune systems. Permitting on the Company's 1.35 million tonne per annum (Mtpa) Galalar Silica Sand Project (GSSP) is well advanced and remains a priority for Diatreme. Mining Project Agreements are in the final stages of drafting, and environmental permitting approvals expected during 2022 will allow the project to advance in 2023. Once approved, the GSSP will deliver significant benefits to all stakeholders, including First Nations and other local communities and Queensland. The parallel advancement of the GSSP and Northern Silica projects over the coming five years will allow for increased targeted production capacity and scale. Diatreme's ESG principles govern its delivery of low impact projects, aligned to Australia's 2022 Critical Minerals Strategy, which recognises the importance of silica in the rapid transition to lower global carbon emissions. The combined GSSP and Northern Silica projects contain a total resource estimated at 199.5Mt. This provides a large resource base for two standalone projects, located in a stable and ESG compliant jurisdiction, amid increasing demand growth from Asia's booming solar PV industry. In 2022, Diatreme defined the Si2 North resource at 124Mt, located within the Northern Silica MLA. Diatreme will undertake further drilling in Third Quarter 2022 to assess opportunities to expand the Si2 North resource and upgrade information on the Casuarina dune system. Concurrently, Diatreme is applying for an Infrastructure Lease (Section 316 of the Mineral Resources Act 1989) for product transport purposes to link the Northern Silica MLA areas to the State-owned Cape Flattery Port, located within 15km of the project area. Expansion or addition to the current port facilities is being assessed, facilitating the port's long-term operation and expansion. Planning and implementation of any required changes to the port are being completed in consultation with Far North Queensland Ports Corporation Limited (Ports North), the State's responsible entity. The near-term requirements of transhipment from GSSP and the longer term requirement for product shipping from the Northern Silica Development are being evaluated. Oceangoing vessels are expected to deliver the product to Asian markets. Options also exist for possible barging of the product to Townsville, with downstream domestic manufacturing of high quality silica products, subject to further analysis. The latest advances by Diatreme concerning its northern silica projects follow the announcement of a strategic partnership with global material solutions company, Sibelco. The two partners have agreed on a joint venture to develop the GSSP and Northern Resource Project, supported by a significant initial investment from Sibelco of $35 million, subject to regulatory approvals. Bekanntmachung • Jun 28
Diatreme Resources Limited announced that it expects to receive AUD 3.302788 million in funding from Ilwella Pty Ltd Diatreme Resources Limited announced a private placement of approximately 132,111,500 shares at a price of AUD 0.025 per share for gross proceeds of AUD 3,300,000 on June 27, 2022. The transaction will include participation from returning investor Ilwella Pty Ltd for 19.99% stake. The transaction is subject to shareholder approval. The transaction is expected to close on August 19, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Greg Starr was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Feb 24
Diatreme Resources Limited Expands Northern Resource Project Exploration Diatreme Resources Limited continues to expand its silica sand resource base, with new exploration drilling underway throughout the Company's Northern Resource Project (NRP) area. The drilling is selectively testing extensions to dunes with low impact exploration activities. This includes the involvement of a number of Aboriginal clan groups, assisting in field programs within their respective clan areas. The move follows recent success in discovering a second, high-grade silica sand resource within the northern area of the Cape Bedford (EPM17795) tenement area, the Si2 North Project. Diatreme is now building an extensive knowledge base on the dune systems located within the NRP area, adding to the established silica sand resource at the Galalar Silica Sand Project. Drilling programs in Diatreme's Northern Resource Project (NRP) target specific dunes extending over 150 sq km, in proximity to Cape Flattery Port, Far North Queensland. 2021 drilling campaign successfully tested further extents to the Si2 North dune towards the coast within EPM 17795, intersecting up to 44.5m of high purity silica sand. Resource upgrade studies underway at Si2 North and expected to be completed in March 2022, targeting significant increases in both known resource and with potential for new discoveries. Hand auger reconnaissance drilling underway and continuing throughout wet season, focused on areas located to the north of the Point Lookout Track. This will evaluate another extensive area of lower profile silica dunes, in proximity to the Cape Flattery Silica Mine leases. Further drilling prioritised at Si1 North through second quarter of 2022, with potential for additional multiple high purity silica resource discoveries following January's high-grade silica sand discovery. Bekanntmachung • Jan 12
Diatreme Resources Limited Discovers Second Major Regional High-Grade Silica Deposit Diatreme Resources Limited has achieved a new milestone, with the discovery of a second high-grade silica sand resource within the northern area of the Cape Bedford (EPM17795) exploration tenement (Si 2 North Project). A new maiden Inferred Mineral Resource has been estimated by independent experts Ausrocks Pty Ltd. for the Company's Si 2 North Project, comprising 53.2 million tonnes @ 99.32% SiO2. This high-grade silica sand, subject to further mineralogical testing should be suitable for high-end glass manufacturing within the automotive, electronics and photovoltaic (solar panel) sectors and is currently in strong demand in the Asia-Pacific region. The new discovery immediately abuts the mining leases of the world's largest silica sand mine at Cape Flattery in Far North Queensland, with potential for access to existing export infrastructure. Bekanntmachung • Sep 29
Diatreme Resources Limited Announces High Priority Northern Exploration Targets Progress Update Diatreme Resources Limited announced that it is advancing its assessment of high priority target areas, Silica Target 1 (Si1) and Silica Target 2 (Si2), to the north of its flagship Galalar Silica Project in Far North Queensland. Si1 and Si2 are two of the largest highpriority target areas within the Cape Flattery area of Exploration Permit for Minerals (EPM) 17795. These targets are located to the southwest of the world's largest highgrade silica mine at Cape Flattery (owned by Mitsubishi Corporation). The Si1 and Si2 target areas are dune systems above the 40 m RL contour, which extend inland from the coast for approximately 612 km in length with a width of 67 km. Samples taken during a preliminary exploration program in 2019 returned assay results of >99% SiO2, indicating a potentially large and significant highpurity silica occurrence (ASX release 18 August 2021). It is anticipated the results from Si1 and Si2 will add to the Company's current 75.5 Mt JORC Mineral Resource at Galalar to the south. An initial inferred resource will be estimated following receipt of assay results in Fourth Quarter with a view to announcing a `new' worldclass silica resource in addition to the 75.5 Mt Galalar resource to the south. Given the proximity of the northern exploration targets areas to Cape Flattery, there are potential export and logistical advantages. Bekanntmachung • Sep 15
Diatreme Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10.080001 million. Diatreme Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10.080001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 438,260,914
Price\Range: AUD 0.023
Discount Per Security: AUD 0.00138
Transaction Features: Subsequent Direct Listing Bekanntmachung • Sep 06
Diatreme Resources Limited announced that it expects to receive AUD 10 million in funding from Ilwella Pty Ltd and other investors Diatreme Resources Limited announced a private placement of 434,782,609 common shares at a price of AUD 0.023 per share for gross proceeds of AUD 10,000,000 on September 6, 2021.The transaction will include participation from to strategic, sophisticated and professional investors including returning investor,Ilwella Pty Ltd for 3,500,000 shares. The transaction is expected to close on or around September 13, 2021. Bekanntmachung • Jun 10
Diatreme Resources Limited Announces Further Advanced its Galalar Silica Project, Lodging Mining Lease Application Diatreme Resources Limited has further advanced its Galalar Silica Project, lodging a Mining Lease Application (Infrastructure) encompassing the associated Nob Point Barge Ramp (NPBR), Hopevale Community boat ramp and temporary stockpile area to facilitate the export of high purity silica sand. Significantly, the NPBR option minimises community and environmental impacts as well as reducing transport costs compared to the alternate Scoping Study option, which anticipated road transport and barging via Cooktown. The NPBR option has been strongly backed by local stakeholders, most importantly Native Title holders directly affected by the mine's development. The Nob Point Mining Lease Application adjoins the Galalar Mining Lease Application (MLA) minimising product transport to 3.5km along a Haulage Access Road. Trucks or an alternate conveyor system would be loaded at the stockpile area located in the southwestern corner of the Galalar mine, with dry product delivered onto awaiting barges moored at the end of the NPBR. Barges would then transport product to a designated transhipment point for export. Meanwhile, Diatreme has recently executed a Memorandum of Cooperation (MOC) with Hopevale Congress Aboriginal Corporation (Congress), together with the Thiithaarr and Gamaay People, who have established a committee of the Native Title holders. The parties to the MOC have highlighted that Nob Point is their preferred export solution and are working together towards favourable approval outcomes with the various State and Commonwealth regulatory agencies. This ensures the project development is consistent with the aspirations of the Native Title holders as traditional custodians of matters related to the land and sea. Under an agreement with Diatreme, the Native Title holders have a 12.5% `free carried' project interest, ensuring mutual benefits are delivered through maximising the project's economic outcomes. This agreement does not replace the Mining Project Agreement (MPA) which is progressing well with an expected conclusion late third quarter 2021, following additional onsite community meetings and briefings. Completion of the MPA is required prior to grant of both MLA's. The process involves final Native Title consents for mine development, outlining all related issues including compensatory arrangements and will include a detailed Cultural Heritage Management Plan. The agreement also aligns Caring for Country environmental obligations with anticipated conditioning on Environmental Management over Galalar and Nob Point. Reported Earnings • Mar 28
Full year 2020 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in FY 2019) Full year 2020 results: Net loss: AU$1.04m (loss narrowed 24% from FY 2019). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Bekanntmachung • Mar 17
Diatreme Resources Limited Announces Increase in the Total JORC Mineral Resource Estimate for its Galalar Silica Project in North Queensland Diatreme Resources Limited announced another increase in the total JORC Mineral Resource estimate for its Galalar Silica Project in North Queensland, highlighting the project's extraordinary high purity silica resource and potential to generate valuable longterm jobs and investment for the benefit of stakeholders. Based on an assessment by independent consultants Ausrocks Pty Ltd, the total JORC Mineral Resource estimate has risen to 61.9 million tonnes (Mt), up 30% on the previous estimate announced last year. The total resource covers an area of approximately 335ha with an average thickness of 18.8m, of which 99% falls within the Mining Lease Application area. In addition, the Company has also identified large sections of the resource area contain inherently low Fe2O3 and further work is being undertaken to potentially optimise the resource and start up mining plan through detailed modelling of the low iron areas. This resource planning will allow targeting on mine start up of the low iron formations within the dune structure to ensure target product specifications are achieved on first production. The latest resource expansion follows the release of an economic study showing the project's potential to generate more than 110 fulltime jobs, delivering a significant boost to household incomes. It could inject around $2324m in the construction phase and up to $42m in the operational phase for the benefit of Hope Vale, Cooktown and the surrounding region, with estimated total revenue of $80m per annum. Diatreme aims to advance the regulatory approval process to ensure the project plays a role in the region's recovery from the impact of COVID19. In November 2020, Diatreme announced the receipt of the final terms of reference for the project's environmental impact study (EIS). A draft EIS is now underway, with the Company targeting receiving the necessary environmental approvals and Mining Lease in the fourth quarter of 2021 and potential first production in 2022. Recent meetings with key stakeholders in Hope Vale together with key federal government ministers in Canberra have highlighted the community support for the project, with affected native title holders having a direct 12.5% stake in the project. Bekanntmachung • Feb 19
Diatreme Resources Limited Appoints Peter Brown as Chief Operating Officer (Coo) to Accelerate Galalar Silica Project Diatreme Resources Limited announced the appointment of globally experienced mining executive, Peter Brown, as Chief Operating Officer (COO) to further advance the Company's key Galalar Silica Project. Mr. Brown has more than three decades' experience both in Australia and internationally in senior project management roles in the resources sector, with an emphasis on business improvement and ensuring successful project delivery from greenfield to production in multiple commodities. Importantly for Diatreme, his experience encompasses proactive engagement with the community including traditional owners, with a strong track record of collaboration and enhancing safety management. Recent experience has included various senior management roles for Round Oak Minerals (a subsidiary of WH Soul Pattinson), including contributing to its North Queensland projects (coppergold mines). He has also served in a senior project management role at international consultancy Golder Associates, as well as various roles including General Manager on mining projects in Asia and South America. Bekanntmachung • Feb 12
Diatreme Resources Limited Announces Further Progress At Its Galalar Silica Project in North Queensland Diatreme Resources Limited announced further progress at its Galalar Silica Project in North Queensland as it works to develop a new silica sand mine for the benefit of all stakeholders. Following the recent opening of a community office in Hope Vale, Diatreme has stepped up its community
engagement activities in the local region. The Company recently hosted a broad based community consultation meeting in Hope Vale as part of the social impact assessment process (SIA), supported by independent specialist consultancy Coffey Ltd. The SIA process forms a key component of the project's environmental impact statement (EIS) studies and is designed to assess project impacts on native title holders, community members, and residents from Hope Vale and Cooktown and regionally. Based on the Office of the Coordinator General's SIA guidelines, the assessment is to consider community and stakeholder engagement; workforce management; housing and accommodation; local business and industry procurement; and health and community wellbeing. Bekanntmachung • Jan 26
Diatreme Resources Limited Plans to Explore Two High Priority Silica Sand Areas Near Cape Flattery Diatreme Resources Limited announced plans to explore two high priority silica sand areas near Cape Flattery, with the potential for further resource identification at the Company's Galalar Silica Project in North Queensland. Diatreme has identified large silica sand dune systems in the Cape Flattery area of EPM 17795 Cape Bedford that could contain large volumes of high purity silica sands. In March 2019, a regional helicopterbased reconnaissance survey was completed to collect 1m auger samples from these target areas to confirm the sand quality was similar to the known resource areas of the greater dune system. The new targets are located near the Mitsubishiowned Cape Flattery mine, the world's largest operating silica mine, and its associated infrastructure such as port access. Significantly, these dunes could add significant silica sand to the current resource at Galalar amid continued growth in the solar PV market, requiring increased supplies of high purity silica sand. Bekanntmachung • Jan 22
Diatreme Resources Limited Announces Galalar EIS Study Progresses with Water Monitoring Underway Diatreme Resources Limited announced further progress in the regulatory approval process for its Galalar Silica Project, with the successful completion and installation in late December 2020 of 12 groundwater monitoring bores. The new bores will facilitate the detailed hydrogeological studies and baseline water quality assessments required for the environmental impact assessment (EIS) process, as part of the final permitting and approvals necessary prior to commencement of mining activity at the North Queensland project. The first stage of the groundwater monitoring program was completed using both Diatreme's aircore drill rig and a specialist water bore rig from FNQ Drilling and a registered water bore driller. Leading independent technical services firm Golder Associates Pty Ltd. (Golder) supervised the technical component of the monitoring and will monitor groundwater movements following the start of the regional wet season in January/February 2021. A draft technical study was completed by Golder in early 2020 to provide a preliminary assessment of the surface water and groundwater conditions at the project area. To determine the groundwater regime, a series of groundwater monitoring bores was proposed to provide background information and data. Registered Bore Details: Bores RN 193195, 193200 & 193201: Three monitoring bores in a transect across Deep Creek; Bore RN 193196: Preliminary monitoring bore used to monitor drawdown during the pumping test, located 30m to the southeast of the proposed pumping bore location. The radial distances of the monitoring bores from the pumping bore were selected using an analytical Theis equation, with estimated literature values for hydraulic properties and a threshold of at least 0.2m of drawdown after 3 days of pumping at 5L/s; Bore RN 193197: Single monitoring bore upgradient of wetland along the north of the site; Bore RN's 193191 & 193194: Two monitoring bores located along the coastal frontage and directly up gradient of wetland; Bore RN's 193197, 193192 &193193: Three monitoring bores within various sand dunes to collect spatial and temporal data on dune sand hydrogeological and hydrochemical characteristics; Bore RN's 193190 & 193198: Two monitoring bores associated with Alligator Creek. In addition to the monitoring and baseline water program, Diatreme also plans to install a volume test bore in February/March 2021, following the start of the wet season. Drillnorth will drill a large diameter bore of 200 to 225mm diameter to allow installation of equipment for a pump test. This pumping bore will be used to extract groundwater during the multirate and threeday constant rate pumping tests. The pumping test will provide information on the transmissivity and storativity of the dune sand aquifer, which will be used to calibrate the impact assessment groundwater model and provide insights on the efficacy of the groundwater supply scheme. Extracted water from the pump test will be released across the dune and allowed to seep back into the dune. The reports from the EIS studies will form chapters of the draft EIS document, which will be prepared over the next six months prior to lodgement of the draft EIS document with Queensland's Department of Environment and Science (DES) and the Federal Department of Agriculture, Water and the Environment (DAWE) for its adequacy and consistency with the final EIS terms of reference requirements. Once the draft EIS has been deemed satisfactory by DES and DAWE, another round of public input will commence and if necessary, the draft EIS will be revised or supplementary studies undertaken. At that time, assessment of state and Commonwealth matters will be undertaken under the Queensland/Commonwealth bilateral agreement. Bekanntmachung • Nov 28
Diatreme Resources Limited Announces Further Progress in the Regulatory Approval Process for Its Galalar Silica Project Diatreme Resources Limited announced further progress in the regulatory approval process for its Galalar Silica Project, with the receipt of the final terms of reference for its environmental studies. Diatreme released an Initial Advice Statement (IAS) and draft terms of reference (DToR) for the project's environmental impact statement (EIS) in late July 2020. The DToR sets out the substantive matters that the project EIS must address, with the DToR document having been available for public review and comment for a statutory period of two months. A total of 51 submissions were received on the DToR by the close of the public submission period in September 2020. Each submission was reviewed and duly considered by both the Queensland Department of Environment and Science (DES) and Diatreme. The submissions received were from government agencies, community members (mainly in Cooktown and Hope Vale), traditional owner groups and other stakeholders. The Company's preferred logistical solution comprises a new barge ramp and barge operations at Nob Point near the proposed mine site, which would minimise environmental and community impacts. The proposed barges at Nob Point would be either: unloaded into an oceangoing vessel that is anchored directly offshore from the barge ramp at Nob Point; or routed to the north to the Port of Cape Flattery and unloaded to an oceangoing vessel that is situated at a designated anchorage site within the port limits (which are excluded from the State and Federal marine park). The silica product likely will be fully containerised (or similarly contained in a way that prevents the material from escaping the container or vessel) to further minimise any environmental impacts and also satisfy the Government's new transhipping regulations. The barge ramp infrastructure could also be designed and colocated with a public boat ramp that can be used by the local community to support a range of recreational, tourism, cultural, and scientific research activities. Bekanntmachung • Nov 10
Diatreme Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.53 million. Diatreme Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 2.53 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 253,000,000
Price\Range: AUD 0.01 Bekanntmachung • Oct 18
Diatreme Resources Limited announced that it has received AUD 4.638628 million in funding from Ilwella Pty Ltd On October 16, 2020, Diatreme Resources Limited (ASX:DRX) closed the transaction. The company has issued 463,862,800 shares for gross proceeds of AUD 4,638,628 in the transaction. Bekanntmachung • Oct 11
Diatreme Resources Limited announced that it expects to receive AUD 4.64 million in funding from Ilwella Pty Ltd and other investors Diatreme Resources Limited (ASX:DRX) announced a private placement of 464,000,000 common shares at a price of AUD 0.01 per share for gross proceeds of AUD 4,640,000 on October 9, 2020. The transaction will involve participation from new and existing sophisticated and institutional investors. including existing investor Ilwella Pty Ltd for AUD 1,650,000 or 36% of the shares to be issued. The issue price of AUD 0.01 per share equates to a 15% discount to the last closing price of the company’s shares of AUD 0.012 per share on October 6, 2020, and also a 15% discount to the 15 day volume weighted average price of the company’s shares of AUD 0.012 per share prior to October 6, 2020, being the last trading day before the announcement of the transaction. The transaction is expected to close on October 15, 2020. Bekanntmachung • Sep 22
Diatreme Resources Limited Announces Drilling Program Highlights Expansion Potential of Galalar Silica Project in North Queensland Diatreme Resources Limited announced the latest update for its Galalar Silica Project in North Queensland, with recent exploration drilling undertaken in late August and subsequent receipt of related sample testing highlighting its potential for further expansion. The drilling program comprised 44 aircore drill holes for 835m, with some 2,000kg of bulk samples collected from the preliminary mine plan footprint (years one to five). The bulk sample is intended for use in detailed mine planning in anticipation of mining commencement. The program also completed exploration drilling to the north and east of the current resource. Significantly, new holes at the southern section encountered deeper sections of silica sand than anticipated, indicating the potential for an increased resource in this area. DRX concentrated bulk sampling within the year 1 to 5 mine plan at the southern end of the resource, with early exploration redrilled to confirm historic drilling and collect samples on 1m intervals to better define the resource envelope. Drill spacing was closed to 50m centres in this area to increase confidence in the geological interpretation and continuity of resource in the initial years of mining. As part of the EIS study process, a comprehensive LIDAR survey was also completed over the Galalar and Galalar Extended areas to provide increased resolution of the surface topography. This imagery is able to see through the vegetation and reveal the sand dune structure and outline the different phases of dune formation to better reconcile the stratigraphy and future mine plan, particularly where dune formation and relative age has been identified as a factor in targeting low iron, low contamination dune structures. Preliminary review of the results of the infill drilling and twinning of older holes confirmed the resource quality with respect to SiO2 percentage and the contaminants Fe2O3 and Al203. The results indicate a sand quality which meets the quality requirements for inclusion into future resource estimations and should contribute to a significant increase in resource tonnages. The program utilised Diatreme's aircore drill rig managed and operated by Diatreme personnel, with added labour to help sampling provided by traditional owners from Hopevale Congress acting also as cultural heritage monitors under strict onsite activity supervision guidelines. Diatreme announced in May a 25% increase in the Galalar silica sand resource to 47.5 million tonnes, including a maiden Measured Mineral Resource of 30.9 Mt @ 99.28% SiO2. This followed the release of an independent economic study showing the project's potential to generate more than 110 fulltime jobs and inject some $24m in the construction phase and up to $42m in the operational phase for the benefit of the Hope Vale, Cooktown and surrounding region. The project is being developed in partnership with Hopevale Congress (RNTBC) representing the interests of native title holders, which has a 12.5% stake in the project, thereby ensuring the local community directly benefits from Galalar's development. Testwork has shown the project's ability to produce a premiumquality silica product suitable for solar PV manufacturing and other hightech applications. Highlighting the potential demand for Galalar's product, photovoltaics (solar power) dominated as by far the main new powergenerating technology source in 2019, accounting for 45% of all new capacity added with a record 118 gigawatts constructed, according to data compiled by BloombergNEF. In July, Diatreme released the Initial Advice Statement and draft terms of reference for the Galalar project's environmental impact statement (EIS) for public comment. Subject to Queensland Government approval, the Company is seeking to ship the product to export markets via a purposebuilt barge ramp near Nob Point, potentially with joint community and commercial use with transhipping activity occurring within the designated Cape Flattery port area, thereby minimising community impacts and disturbance to the great barrier reef marine park areas. (ii) Resource extension: Another objective sought to take advantage of favorable weather and access to the new areas of the Galalar grid. Drill holes were drilled on roughly 200m spacing along the new gridlines installed in February 2020. The eastern line of holes did intersect high purity silica sand in smaller dunes which will help constrain the resource's eastern boundary. However, new holes at the southern end of the resource did intersect deeper than anticipated sections of sand and may increase the resource in this area. It must be noted that holes drilled along the southern extent of the resource area contain elevated Al2O3 and Fe2O3 relative the rest of the resource. This is likely the result of recent dune formation superimposed on the older dune system constituting the bulk of the resource. Drilling highlighted the varying phases of sand dune formation and dune stratigraphy and variations in the sand dune depth due to surface and basement topography. 
