New Risk • Jan 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$175k revenue, or US$117k). Minor Risk Market cap is less than US$100m (AU$29.3m market cap, or US$19.6m). New Risk • Sep 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m (AU$175k revenue, or US$114k). Minor Risk Market cap is less than US$100m (AU$16.1m market cap, or US$10.5m). Announcement • Sep 01
King River Resources Limited, Annual General Meeting, Nov 21, 2025 King River Resources Limited, Annual General Meeting, Nov 21, 2025. Reported Earnings • Aug 23
Full year 2025 earnings released: AU$0.004 loss per share (vs AU$0.001 profit in FY 2024) Full year 2025 results: AU$0.004 loss per share (down from AU$0.001 profit in FY 2024). Net loss: AU$6.14m (down 396% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Mar 01
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$125k revenue, or US$77k). Market cap is less than US$10m (AU$13.8m market cap, or US$8.54m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Profit margins are more than 30% lower than last year (2,673% net profit margin). New Risk • Jan 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.3m (US$9.60m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Revenue is less than US$1m (AU$92k revenue, or US$58k). Market cap is less than US$10m (AU$15.3m market cap, or US$9.60m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2,255% net profit margin). New Risk • Sep 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 438% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Revenue is less than US$1m (AU$92k revenue, or US$63k). Market cap is less than US$10m (AU$13.8m market cap, or US$9.46m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2,255% net profit margin). Reported Earnings • Sep 21
Full year 2024 earnings released Full year 2024 results: Revenue: AU$2.78m (up AU$2.78m from FY 2023). Net income: AU$2.07m (down 44% from FY 2023). Profit margin: 75% (down from 1,480,615% in FY 2023). New Risk • Sep 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (21% accrual ratio). Revenue is less than US$1m (AU$39k revenue, or US$26k). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (AU$15.3m market cap, or US$10.3m). Announcement • Sep 06
King River Resources Limited, Annual General Meeting, Nov 15, 2024 King River Resources Limited, Annual General Meeting, Nov 15, 2024. New Risk • May 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). High level of non-cash earnings (21% accrual ratio). Revenue is less than US$1m (AU$39k revenue, or US$26k). Minor Risk Market cap is less than US$100m (AU$15.3m market cap, or US$10.2m). Reported Earnings • Sep 18
Full year 2023 earnings released: EPS: AU$0.002 (vs AU$0.002 loss in FY 2022) Full year 2023 results: EPS: AU$0.002 (up from AU$0.002 loss in FY 2022). Revenue: AU$9.15m (up AU$9.15m from FY 2022). Net income: AU$3.69m (up AU$6.75m from FY 2022). Profit margin: 40% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Sep 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$435 revenue, or US$280). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$15.5m market cap, or US$10.0m). Announcement • Sep 02
King River Resources Limited, Annual General Meeting, Nov 16, 2023 King River Resources Limited, Annual General Meeting, Nov 16, 2023, at 09:00 W. Australia Standard Time. New Risk • Aug 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.0m (US$9.02m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$435 revenue, or US$281). Market cap is less than US$10m (AU$14.0m market cap, or US$9.02m). New Risk • Aug 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.0m (US$9.02m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$435 revenue, or US$281). Market cap is less than US$10m (AU$14.0m market cap, or US$9.02m). New Risk • Jun 14
New major 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 16% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$435 revenue, or US$295). Market cap is less than US$10m (AU$14.0m market cap, or US$9.50m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Reported Earnings • Mar 04
First half 2023 earnings released First half 2023 results: Net income: AU$10.4k (up AU$1.31m from 1H 2022). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Leon Charuckyj was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 25
Full year 2022 earnings released: AU$0.002 loss per share (vs AU$0.001 loss in FY 2021) Full year 2022 results: AU$0.002 loss per share (further deteriorated from AU$0.001 loss in FY 2021). Net loss: AU$3.06m (loss widened 216% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Sep 24
King River Resources Limited Provides Speewah - Vanadium Update King River Resources Limited provided outline of company's vision for its 100% owned Speewah Vanadium Project located in the Kimberley of Western Australia. KRR's conceptual development plan is an open-cut mining operation scaled at 5Mtpa of feed to an on-site processing plant targeting production of a high-grade magnetite concentrate for export. The exported concentrates could then be refined overseas by salt and reduction roast methodology to target vanadium pentoxide (V2O5), titanium dioxide (TiO2) and iron co-products. Resource: Speewah is Australia's large vanadium-in-magnetite deposit based on tonnes and V2O5 content. The deposit comprises a Measured, Indicated and Inferred Mineral Resource of 4,712 million tonnes at 0.3% V2O5, 3.3% TiO2 and 14.7% Fe. The large deposit size supports a conceptual development plan for a potentially long mine life. Mining: KRR envisages an open cut mining operation on the Central Vanadium deposit which outcrops, is fresh rock from near the surface, and has shallow dipping geometry with a low strip ratio of 0.4. Process: KRR's plan is to produce a high grade vanadium-bearing magnetite concentrate from the high grade (HG) zone of the Central Vanadium deposit, by crushing, grinding and magnetic separation. The beneficiation process can produce a magnetite concentrate with grades of 2.15-2.64% V2O5, which is higher than other Australian vanadium deposits. This important characteristic is due to very high V concentration in the magnetite crystal which reduces gradually upwards in the deposit. Consequently, a smaller mass of concentrate could be processed to deliver the targeted V2O5 product. The low insitu grade of 0.3-0.4% V2O5 and the disseminated nature of the mineralisation results in a relatively low mass yield of about 13% into a magnetite concentrate. A greater mass of disseminated magnetite gabbro feed therefore needs to be beneficiated to produce a magnetite concentrate. Staged crushing-grinding and magnetic separation optimisation tests on drill core samples are underway to produce a magnetite concentrate of high V grade, low in contaminants, and higher mass yield and vanadium deportment. Metallurgical investigations are currently underway by Murdoch University Hydrometallurgy Research Group to develop an optimised process flow sheet to produce high purity V2O5, TiO2 and iron metal, by trialing oxidative and reductive roast techniques, including the use of hydrogen as a reductant. In the salt roast tests already completed, vanadium extractions of up to 92% have been achieved from high grade vanadium- bearing magnetite concentrate. Testwork is ongoing trialling mixed salts, optimisation of the salt dosage, and the precipitation of V2O5 product by the ammonium metavanadate (AMV) process. Research: KRR is supporting the Future Battery Industries Cooperative Research Centre (FBI-CRC) Vanadium Redox Flow Batteries (VRFB) Project. Announcement • Sep 21
King River Resources Limited, Annual General Meeting, Nov 24, 2022 King River Resources Limited, Annual General Meeting, Nov 24, 2022, at 09:00 W. Australia Standard Time. Agenda: To consider the re-election and appointment of certain directors. Announcement • Sep 20
King River Resources Limited Provides HPA Project Update King River Resources Limited provided the update on the ongoing laboratory work as part of the advancement of the High Purity Alumina (HPA) Project. As reported on 19 April 2022 the company Board placed the Detailed Feasibility Study for the 2000tpa 5N Aluminium Salt Precursor 1 plant on hold, to capitalise on HPA process development. Laboratory process development testwork remains ongoing identifying and refining new process improvements to its ARC HPA process, which may provide potentially more economical options and pathways and a more environmentally friendly process route to the production of HPA. Process Advancements: Laboratory testwork by Source Certain International (SCI) has been systematically working on three processes pathways for HPA to improve the project economics and environmental, social and governance (ESG) benefits in comparison to the process pathway that was being used for the initial HPA Pre-Feasibility Study (PFS) and the Type: 1 Precursor Detailed Feasibility Study (DFS). ARC - 1. This is a modification of the original ARC HPA process outlined in the PFS. It uses an Aluminium (Al) chemical feedstock and initially produces the 5N purity Al salt by recrystallisation as demonstrated in its DFS campaign tests. The Al salt is then converted to Al Hydroxide which is calcined to HPA. This process requires high purity reagents and produces by-products that are either neutralised or processed for recycling. The benefit of this process is that it requires no off-gas treatment as only water is given off in the calcination process. ARC - 2. This is a new process that was introduced to address the reagent and waste issues highlighted by the ARC 1 process. It also uses an Al chemical feedstock and is still under development. The initial recrystallisation purification stage uses a different reagent that can be recycled more directly. Testwork has produced a high purity Al salt and is ongoing to improve purity, reduce the purification steps and increase overall recovery. The Al salt produced can then be converted to Al hydroxide prior to calcination to HPA. The benefits of this process are that it requires no off-gas treatment, produces less waste and has better recycling opportunities. ARC - 3. This new process uses an Al chemical feedstock but takes a completely different approach that requires no precipitating reagents and produces no reagent related wastes. In addition it produces Al Hydroxide directly for calcining into HPA. The process is still under development. These new process routes are the current focus of KRR HPA research and their discovery has contributed to the company's change in direction and the extension of the laboratory research programmes. Type 1 Precursor: Detailed Feasibility Study: Based on the laboratory developments the DFS in its current form is not the commercial solution required by the company. The work that was completed provided a foundation of understanding on the Capital and Operating costs associated with this size of plant in such a modular flow sheet design. This information will be beneficial in expediently assessing the commercial opportunities of the new process pathways. Announcement • Sep 01
King River Resources Ltd Announces Continued Gold Exploration Success from Its Tennant Creek Project King River Resources Ltd. announced continued gold exploration success from its Tennant Creek project. High grade rock chip grab sample results up to 49.5g/t Au have been returned from reconnaissance exploration of areas surrounding the main Kurundi Prospect where recent RC drilling returned high grade drill intersections earlier in the year, an area never drilled before (KRR ASX 27/6/22, best result TRC019: 7m @ 6.35g/t Au from 25m including 2m @ 21.30g/t Au with 1m @ 35.26g/t Au). These new high-grade surface gold results give the company additional drill targets to the current high- grade gold Kurundi prospect.Also, high grade copper and silver values have been returned from multi element analysis of the Kurundi RC drilling with coper result of 2m @ 8.4% Cu including 1m @ 21.8% Cu and best silver result of 4m @ 59ppm Ag including 1m @ 176g/t Ag in hole TTRC041. The drilling at Kurundi has shown that structures and mineralisation in this sparsely explored region are persistent and continuous at depth giving more confidence to the multiple gold targets identified in the area so far. The results of the recent work is very encouraging for further exploration in the Kurundi and Tennant Creek region where KKR holds +7,000km2 of exploration licences. In recent months the Tennant Creek region has become very competitive for exploration. Significant gold and copper results have been reported including those by Castile, Emmersons and Tennant Minerals at Rover, Bluebird, and Hermitage, as well as KRR's recent high grade gold results in the Kurundi Gold region. King River Resources currently holds +7,000km2 of exploration licences with quality exploration targets within the Tennant Creek Region and is exploring for gold and copper mineralisation including Iron Oxide Copper Gold mineralisation. Rover East Project which covers ground along strike of the units that host the Rover 1 deposit where Castile intersected 30.4m @ 35.6g/t Au in 2021 (ASX CST 2/6/21). Tennant East Project situated only 3km along strike of the geophysical units that host Tennant Minerals Bluebird Deposit where diamond drill intersection of 63m @ 2.1% Cu copper and 4.6gpt Au from 153m including 27.55m at 3.6% Cu and 10gpt Au and 7m at 38.5gpt Au was returned. KRR's ground is also directly along strike of the Lone Star IOCG trend that hosts Emmersons Mauretania deposit, the Blue Moon, Gigantic and Metallic Hill historic mines as well as multiple other prospects and historic workings (all within 1km of the tenement boundary). Barkly Project where multiple exploration companies (including Newcrest Ltd, Middle Island, Greenvale and more) have pegged all the available ground in a corridor that strikes between Mount Isa and Tennant Creek based on IOCG prospectivity identified by government precompetitive work. Kurundi Project where KRR has recently intersected high grade gold in multiple drill holes. Announcement • Jun 28
King River Resources Limited Announces Tenant Creek High Grade Gold Drill Results King River Resources Ltd. announced the return of high grade drill results from its recently completed drill programme in the Tennant Creek Gold Project (34 holes completed at Kurundi tenement and 3 holes completed at Tennant Creek tenement). Kurundi - EL32200: 34 RC holes for 1,223m have been drilled at high grade gold prospect Kurundi Main where previously announced (KRR ASX 5/3/21) rock chip grab samples returned multiple +10g/t Au results up to 17.25g/t Au along a 2km trend that had never been drilled. Drilling intersected a 1-5m quartz vein within a broader shear structure. Priority samples selected from visually mineralized intervals in 14 holes have returned high grade gold assay results with best results including (remaining samples and multi element results are pending): TTRC019: 7m @ 6.35g/t Au from 25m including 2m @ 21.30g/t Au with 1m @ 35.26g/t Au; TTRC040: 5m @ 3.84g/t Au from 22m including 2m @ 7.82g/t Au with 1m @ 9.99g/t Au; TTRC041: 6m @ 4.77g/t Au from 29m including 3m @ 9.28g/t Au with 1m @ 14.76g/t Au; TTRC042: 6m @ 3.58g/t Au from 8m including 1m @ 17.04g/t Au. This initial drill programme has confirmed that the vein structure is continuous at depth within a broader shear zone. The vein dips approximately 35 degrees to the southwest. Malachite, azurite, sulphides and iron oxides have been noted associated with some intersections. Best results so far were from around the main workings, with one hole intersecting underground workings at 9m depth. At present the vein is open to the north, south and at depth of the main workings area with the deepest hole at the main working area (TTRC39) intersecting mineralization, very strong veining (4m) and structure (Figure above). Also, TTRC029, 200m south of the main workings, intersected very strong veining (+7m) and malachite/azurite. Drilling at the northern and southern workings areas, where previously reported high grade rock chip samples were also returned, intersected veining and shearing with assay results pending. Assays are pending for the remaining 20 holes and samples from the unassayed portions of the 14 holes in this report. Multi element results including Cu, Pb, Ag are also pending for all holes. Further drilling is being planned. Exploration potential is high given the 2km interpreted strike extent (from the northern workings to the southern workings) and the shallow dip of the structure (meaning exploration drilling can test more dip potential with shorter holes). Drilling will test for extensions to the main zone, north and south of the main workings and also test depth extensions. It is hoped the proposed drilling will not only extend the current known zones but discover new mineralized zones at depth and along strike where outcrop is obscured by shallow cover. Tennant Creek East - EL31619: Three RC holes have been drilled to test gravity and ground magnetic targets identified at the Lonestar Trend area immediately east of Tennant Creek gold field and within 700m strike of historic workings and ironstone trends and along strike of Emmerson's Mauretania Deposit. 2021 gravity geophysical processing has revealed a trend of gravity anomalies that are only 700m along strike of the Mauretania/Hopeful Star trend where Emmerson returned best drill result of 20m @ 38.5g/t Au in a diamond drill hole and latest resource figures of 256,216t at 3.5g/t Au for 28,974oz Au have been announced - this resource is said to remain open and unexplored at depth. Two of the holes intersected significant structure and alteration suggesting drilling is close to or within the Mauretania/Hopeful Star corridor, with hole TTRC048 intersecting a strong zone of veining and alteration and TTRC049 intersecting a narrow zone (<1m) of magnetite ironstone as well as a broad structure and weak magnetite alteration. Assays are pending. Announcement • Jun 04
King River Resources Limited Announces RC Gold Drilling Program Planned for Tennant Creek King River Resources Limited announced that the RC gold drilling program planned for Tennant Creek is expected to commence 4 June 2022. Detail of the RC gold drilling program and the priority targets can be found in KRR ASX release Gold Project - Exploration Update dated 18 February 2022, the following is a summary and extract from the ASX release. The priority drill target in 2022 will be at a high-grade gold prospect called `Kurundi' Main, where previously announced (ASX 5/3/21) rock chip grab samples returned multiple +10g/t Au results, some up to 17.25g/t Au, along a 2km mineralised trend that has never been previously drill tested. The drilling would then move onto some coincident gravity and ground magnetic targets identified at the Lonestar Trend area immediately east of Tennant Creek gold field and within proximity to historic workings and outcropping ironstone trends. The Kurundi Main prospect is situated within EL32200 and covers a part of the Kurundi Anticline and the main Kurundi historic gold workings (historic shaft and small pit). The exploration plan would be to do several RC fences along and across the prognosed ~2km trend of this mineralised structure. Announcement • May 12
King River Resources Limited Announces Update on Speewah - Vanadium Salt Roast Testwork King River Resources Limited announced that Vanadium/Titanium deposit located in the Kimberley of Western Australia, which is Australia's largest vanadium in magnetite deposit. Murdoch University's Hydrometallurgy Research Group is working to develop a new process flow sheet to produce high purity Vanadium Pentoxide (V2O5), Vanadium Electrolyte (VE), Titanium Dioxide (TiO2) and metallic iron. These products are used in the manufactureof electrolyte for vanadium redox flow batteries (VRFB), master alloys (Al-Ti-V materials), and titanium oxide pigments. Murdoch University has been investigating two new processing opportunities: an oxidative salt roast process to recover vanadium trialling reductive roast approaches (including hydrogen) to recover other metals. 50 kg of high grade vanadium-titanium magnetite (VTM) concentrate produced by magnetic separation methods from drill samples from the Central Vanadium deposit at Speewah (Attachment 1) has been provided for this testwork. Sample 1 used in the new test work contains 2.44% V2O5 (i.e., 2.01% V2O3). The first batch salt roast-water leach results report up to 92% vanadium (V) extraction. The first batch of five salt roast tests on the VTM concentrate used soda ash (sodium carbonate) as the salt reagent, dosing at 50-150 kg/t and heating at 1000-1200°C for a period of two hours in a tube furnace Subsamples of the roasted materials were subsequently subjected to leaching in water for 1 hour at room temperature. Samples of the washed leach residues and the roasted materials have been assayed to determine the extent of extraction of vanadium and dissolution of other elements. At a sodium carbonate dose of 100 kg/t, the extraction of vanadium during leaching increases with an increase in roast temperature, from 78% at 1000°C to 90% at 1100°C and 92% at 1200°C. Elemental accountabilities for vanadium in these tests were around 97%. At half the salt dose of ~50 kg/t very good V extractions of 81% were still obtained at 1100°C. Further optimisation work should increase these extractions and lower the reagent consumption. The initial oxidative roast-water leach results will be used to select the optimal reagent suite, dosages and temperature conditions to be tested in subsequent optimisation salt-roast-water leach testwork. The solutions from these salt roast-water leach tests, which contain the vanadium, will undergo a series of staged tests to produce vanadium pentoxide (V2O5), including: 1. desilication to reduce the silica in solution and final product. 2. reaction with ammonium sulphate to precipitate ammonium-metavanadate (AMV). 3. calcination of the AMV to produce V2O5. The Australian Federal Government has added Vanadium to Australia's critical minerals list and is taking action to grow Australia into a critical minerals powerhouse, capitalising on the strength of world- leading resources sector, expertise in processing and highly skilled workforce. $200 million has been committed to the Critical Minerals Accelerator Initiative to support strategically significant projects at challenging points in their development. This funding will accelerate projects to market and drive investment. KRR sees the addition of Vanadium to the Critical Minerals list as a very supportive opportunity to access an increase level of funding opportunities and grant levels than were previously available to the industry. KRR involvement in the Future Batteries Industry Cooperative Research Centre (FBICRC) Project on the Development of Vanadium Electrolytes is in the final contracting phase. This project is one of several research initiatives by the FBICRC designed to assist in enabling the growth of battery industries to power Australia's future. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Leon Charuckyj was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 06
King River Resources Limited Provides Update on Speewah Vanadium Deposit Located in the Kimberley of Western Australia King River Resources Limited provided this update on its 100% owned Speewah Vanadium deposit located in the Kimberley of Western Australia. Test work and studies are underway to develop a new process flow sheet to produce high purity Vanadium Pentoxide (V2O5), Vanadium Electrolyte (VE), Titanium Dioxide (TiO2) and metallic iron. These products are used in the manufacture of electrolyte for vanadium redox flow batteries (VRFB), master alloys (Al-Ti-V materials), and titanium oxide pigments. This announcement reports the Board's decision to expand its Specialty Metals focus to include vanadium and outlines the programmes and targeted products to achieve these new developments. Metallurgical Testwork to develop a new Process flow sheet: In 2022, Murdoch University's Hydrometallurgy Research Group commenced a new R&D program to develop a roast process for multi-commodity production from the Speewah Vanadium deposit. The Murdoch University work is investigating both an oxidative salt roast-water leaching process and a reductive roast approach using a high grade magnetic concentrate feed from the Central Vanadium deposit at Speewah. Sample 1 used in the new test work contains 2.44% V2O5 (i.e. 2.01% V2O3) which has been produced from a 6 tonne RC chips sample by magnetic separation methods in 2011. A second test sample will be investigated next. Sample 2 will be made from PQ drill core (currently in storage) from metallurgical holes SDH11-06, SDH11-09 and SDH11-12 from the Central deposit. The salt roast process will aim to produce V2O5 as the main product but an important objective of the test programme is to investigate the production of metallic iron by-product by reductive roasting. The opportunity to produce an iron metal rather than iron oxide or iron-titanium calcine from the salt roast process, can avoid disposing this material as a waste or remaining as low value iron furnace feedstock. The second stage reductive roast processes will trial the use of different reductants including hydrogen gas, which is considered a green alternative to coal and/or carbon gases. The use of hydrogen could offer a carbon neutral production of iron metal, with no CO2 emissions and therefore significant environmental benefits. In addition, the production of a second by-product which could be used a feedstock for titanium dioxide pigment production will be considered, as well as some other new extraction approaches. The programme has been planned and costed and is currently underway. Also, vanadium electrolyte production will be investigated under a separate agreement involving the Future Battery Industries Cooperative Research Centre. The testwork programme has begun on Sample 1 to optimise the process conditions. Initial thermochemical modelling and mineral characterisation work is complete, and the first salt roast tests are underway. KRR will provide updates as they are released. Reported Earnings • Mar 13
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.001 loss per share (down from AU$0 in 1H 2021). Net loss: AU$1.30m (loss widened 266% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Announcement • Feb 18
King River Resources Limited Announces Its 2022 Exploration Targets for Its Tennant Creek and Mt Remarkable Gold Projects King River Resources Ltd. announced its 2022 exploration targets for its Tennant Creek and Mt Remarkable Gold Projects, after the return of rock chip assays and interpretation of the 2021 geophysical results. The 2021 exploration program involved on ground reconnaissance exploration and airborne geophysical work across a range of targets with the aim of generating quality drill targets. Unfortunately, the 2021 exploration season was severely disrupted by the various Covid protocols, rig availability, staff availability and long delays in receiving assay results. The priority drill target in 2022 will be at the high-grade gold prospect `Kurundi' Main, where previously announced (KRR ASX 5/3/21) rock chip grab samples returned multiple +10g/t Au results, some up to 17.25g/t Au, along a 2km mineralised trend that has never been tested with drilling. The drilling would then move onto some coincident gravity and ground magnetic targets identified at the Lonestar Trend area immediately east of Tennant Creek gold field and within proximity to historic workings and outcropping ironstone trends. Multiple magnetic high targets in the competitive Barkly Project Area may also be tested in 2022. KRR is planning to commence RC drilling at the Kurundi Main high grade gold target in May this year. The Kurundi Main prospect is situated within EL32200 and covers a part of the Kurundi Anticline and the main Kurundi historic gold workings (historic shaft and small pit) which have never been drill tested. The exploration plan would be to do several RC fences along and across the prognosed approximately 2km trend of this mineralised structure. High grade gold results (previously reported KRR ASX 5/3/21) were returned from numerous positions along the vein with +5g/t Au results from 3 separate zones: 17.25g/t Au and 16.25g/t Au (12m apart) from the northern zone over 700 NW of the main workings, 16.05g/t Au from the main workings, 13.55g/t Au from 200m SE of the main workings, and 6.43g/t Au from the south eastern zone over 800m SE of the main workings. An outcrop of veining in a historic pit had a dip of 60o to the southwest and the mineralisation is associated with quartz and goethite-hematite with varying amounts of malachite/azurite. The area has previously been overlooked and sparsely explored due to very thin alluvial and Cambrian cover. Of priority is the Lonestar Trend prospect which new gravity geophysical processing has revealed a trend of gravity anomalies that are only 700m along strike of the Mauretania/Hopeful Star trend where Emmerson returned 20m @ 38.5g/t Au in a diamond drill hole and is currently working on resource modeling. Also, very significant coincident gravity and Magnetic anomalies have been returned for the Lonestar East prospect area where a series of historic mines/ironstones (including Gigantic historic mine and Blue Moon historic open cut) associated with faulting and folding strike onto KRR's EL31619. The gravity and magnetics reveal a folded sequence intersecting a NW trending fault with geophysical anomalism focused along these structures. Work at Commitment and Area 5 also have shown coincident gravity and magnetic anomalies. 2019 drilling of the Commitment location gravity and magnetic anomalies revealed Warramunga equivalent rocks beneath shallow approximately 30m cover of the Georgina basin with geochemically anomalous ironstones. Announcement • Jan 04
King River Resources Limited Announces HPA Project Update King River Resources Limited provided this end of year update on the ongoing study work which supports the Definitive Feasibility Study (DFS) for the Type 1 Precursor Processing Plant and further Vanadium process optimisation. This laboratory pilot plant campaign run by Source Certain International (SCI) is a repeat test of the process changes of Campaign 3 where a stage in the Primary Crystallisation flowsheet was not used. As with Campaign 3, Campaign 4 resulted in >99.999% purity so this process reduction will be incorporated into the DFS process design. Removal of this stage in the Primary Crystallisation step is a significant improvement and simplification to the process, and may result in economic benefits to be addressed in the DFS. The Type 1 Precursor Aluminium salt product from Campaign 4 was produced from an industrial chemical compound feedstock by the ARC Process. SCI assayed the Type 1 Precursor products using the ICP-MS and ICP-AES methods. SCI completed 4 duplicate analyses on the Campaign 4 batch to improve confidence in the results (Figure 1) and the >99.999% purity is an average of the 4 repeat assays. Each Precursor purity result was calculated by the addition of all the assayed element impurities that reported above the detection limit then subtracting this result from 100%. Variability in the results is due to differences in the test sample and the analytical precision. The main contaminants in the Precursor are silicon (Si), potassium (K), sodium (Na) and calcium (Ca). HPA PROJECT - IMPROVED PATH TO HPA 4N HPA has previously been produced by calcining Type 1 Precursor. Testwork development is underway by SCI to produce Type 2 precursor, an intermediate Aluminium Compound, which on calcination should provide a more economical and environmentally friendly route to producing 4N HPA. Further details will be reported in 2022. KRR has been trialling using its Type 1 Precursor Aluminium Salt in the production of precursor Cathode Active Materials (P-CAM) used in the manufacture of cathodes of lithium-ion batteries. The focus of the testwork has been to produce a P-CAM of nickel-cobalt-aluminium (NCA) chemistry and previous reported tests have been successful in producing the targeted chemical composition (KRR ASX release 8 September 2021). Scanning Electron Microscopy (SEM) and sizing tests confirm that further work is required to achieve the correct morphology and particle size distribution and this work is underway. KRR has engaged the Hydrometallurgy Research Group at Murdoch University led by Professor Aleks Nikoloski to develop and optimise processing option(s) for the extraction and recovery of vanadium, titanium, iron products from magnetite-ilmenite concentrates from Speewah vanadium project. The research activities will initially focus on understanding the feed properties and developing suitable salt roasting process(es) for the extraction of vanadium. Subsequent testwork will optimise the selected roasting processes for the simultaneous extraction of vanadium, the recovery of by-products, including TiO2 for pigment production and direct reduced metallic iron, and the development of a preliminary flow sheet and key process parameters for scale up and further detailed engineering processing plant design. Reported Earnings • Sep 25
Full year 2021 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in FY 2020) Full year 2021 results: Net loss: AU$968.8k (loss narrowed 13% from FY 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Aug 08
King River Resources Limited Provides Update on Ongoing Exploration At Its Mount Remarkable and Tennant Creek Gold Projects King River Resources Ltd. provided an update on ongoing exploration at its Mount Remarkable and Tennant Creek Gold Projects, including the discovery of new epithermal quartz adularia veins, with indications of mineralisation, during helicopter reconnaissance work (assays pending) and ongoing geophysical work immediately east of the Tennant Creek gold field. Reconnaissance exploration has commenced on KRR's regional Mt Remarkable Tenements (E80/5176, 5177, 5178, 5194, 5195, 5196) which cover gold prospective rocks known as the Whitewater Volcanics. extending 200km along a NE-SW strike south of the Speewah Dome. The initial helicopter reconnaissance phase has been completed with the discovery of new quartz veins and indications of mineralization (assays pending). The White Water Volcanics (a Proterozoic stratigraphic horizon) are host to the high-grade gold mineralisation at the Mt Remarkable Project. This horizon extends from the Hunter Project (held by WA Mining Resources), where historic high-grade gold values of up to 50.65g/t Au have been returned from pithermal quartz veins, through to KRR's Mt Remarkable Project and continues to the Southwest hosting both the Tunganary and Middle Branch Bore gold prospects within anticlinal fold structures. Past exploration along this prospective trend and between these high-grade gold exploration projects has been sparse leaving excellent opportunity for additional high-grade gold discoveries within the Whitewater unit. A total of 88 rock chip grab samples were collected from veining during this first phase helicopter reconnaissance programme. Quartz veining with indications of mineralisation were identified in five different areas, including the area west of the Hunter Project - where numerous east-west trending quartz breccias with minor adularia were identified, at Tunganary where numerous east-west quartz adularia veins with multiple structural orientations were noted and at Middle Branch bore where veining and oxidized sulphides were identified. Assays are pending for all samples. Due to the extensive veining and structural complexity noted at Tunganary it will be the first project returned to for further on ground reconnaissance exploration. Ground Magnetics has commenced at KRR'S Tennant Creek Iron Oxide Copper Gold (IOCG) project. The ground magnetics geophysical survey work has continued from last year with initial targets being immediately east of the Lonestar-Gigantic-Blue Moon IOCG trend where a thin veneer of Cambrian rocks covers the prospective Warramunga Formation units along strike of known historic mining and ironstones. Also KRR has been granted a collaboration with the NT government through the Resourcing the Territory program which will grant up to 50% of the direct exploration costs for an Airborne Magnetic survey over the entire area of EL31634 (526km2). This tenement is situated in the highly prospective and contended East Tennant/Barkly Region which has recently been identified as prospective for mineralisation by government precompetitive work. The Barkly region extends from Tennant Creek to Mt Isa and has previously been overlooked, due to shallow Cambrian cover rocks, but has since come to the attention of numerous exploration companies including Newcrest. KRR's exploration is planned to continue in the Tennant Creek region during the year including: reconnaissance at the Kurundi Project and surrounding tenements, soil sampling in the areas around Edmirringee and Whistle Duck, ongoing ground magnetics and gravity on EL31619 (to test prospective ground immediately east of the Blue Moon and Gigantic mines) and airborne magnetics and VTEM on EL31633 and EL31634 in the Tennant East/Barkly Tenements. Best targets will be prioritised for drilling. Announcement • Jun 16
King River Resources Limited Announces the Completion of Its Preliminary Feasibility Study for the Company's 100% Owned High Purity Alumina Project King River Resources Limited announced the completion of its Preliminary Feasibility Study (PFS) for the Company's 100% owned High Purity Alumina Project (HPA Project or the Project) to be located in the Kwinana industrial area near Perth, Western Australia. The Kwinana HPA Project is owned by ARC Specialty Metals Pty Ltd, a wholly owned subsidiary of KRR. The Kwinana HPA Project uses the Company's ARC process to produce 4N HPA, a crystalline white powder which is almost pure aluminium oxide (Al2O3), from an industrial chemical feedstock. The Project includes a base case production rate of 9,000 tonnes of 4N HPA per annum. The PFS outlines the potential for KRR to be a significant world producer of high value HPA outside of Japan, USA, Europe and China. HPA is an essential ingredient in the production of light emitting diodes (LED) and lithium ion battery separators, both of which are used in clean energy and high technology applications, such as lighting and electric vehicles (EV). Announcement • May 21
King River Resources Limited Provides HPA Prefeasibility Study Update King River Resources Limited provided update on the Kwinana HPA Prefeasibility Study (PFS). Engineering Studies: Como Engineers have completed PFS level engineering studies to provide detailed capital and operating cost estimates. They are currently finalising the Engineering Report and the layout graphics for inclusion in the PFS report. Financial Modelling: FTI Consulting is completing the economic financial model for inclusion in the PFS report. Alpha Alumina Crystal Structure Analysis: A phase analysis on HPA Batch 4 was completed by MicroAnalysis Australia using X-Ray Diffraction (XRD) methods which confirmed all the alumina is the Alpha (corundum) crystal form. Kwinana Industrial Site: KRR has continued investigations with government agencies and private owners for an appropriate industrial site in the Kwinana area located 30-40 km south of Perth in Western Australia. The Kwinana Industrial Area is an ideal location as it has feedstock and reagent suppliers, infrastructure, port, energy supply, and a skilled workforce. Mini-Pilot Plant: Source Certain International (SCI) is assisting KRR to build a Mini-Pilot Plant to demonstrate KRR's ARC HPA refining process at a larger scale for the Definitive Feasibility Study (DFS) and to produce market samples. The process flowsheet and mass balances have been used to scale the mini-pilot plant and enquiries with vessel vendors are underway. The 1500°C rotary tube furnace, used for the calcination stage of the process, has been delivered and is currently being installed. Announcement • Mar 06
King River Resources Ltd Announces the Return of High Grade Gold, Silver and Copper Rock Chip Sample Results from Reconnaissance Exploration at Its Kurundi Project in the Tennant Creek/Davenport Region The elevated iron, copper and bismuth values suggest possible similarities with the main Tennant Creek iron oxide copper gold mineralization. The area is covered by very shallow alluvial rocks as well as a very thin veneer of Cambrian sedimentary rocks of the Georgina basin that deepens to the north east. There has been no historical systematic exploration or drilling in this area. Other Tennant Creek Exploration Plans The company holds 7,900km2 in 16 tenements in the Tennant Creek Region around the Tennant Creek, Rover and Kurundi Gold fields, covering 4 main project areas: Tennant Creek East, Tennant East/Barkley, Rover East and Kurundi. The Tennant Creek and Rover gold fields are host to high-grade Iron Oxide Copper Gold deposits with over 5.5M ozs Au mined from Tennant Creek and a resource of 1.2M oz Au estimated in 2010 at Rover 1 (Westgold Resources 23/2/10 ASX release). Recent drilling by Castiles Resources Ltd. at Rover returned stunning gold results of 30.4m @ 35.6g/t Au (ASX 14/10/20). The Treasure Creek holdings (Treasure Creek is a wholly owned subsidiary of King River Resources) cover areas along strike of both the Tennant Creek and Rover Gold Fields with areas of similar stratigraphic and structural settings. Past exploration in these project areas has been brief, sporadic and disjointed, with many areas under shallow Cambrian cover restricting exploration by historic explorers and preventing discovery. The company believes that, with the application of systematic exploration and new/advanced geophysical techniques to target drilling, significant gold discovery could be made. Exploration is targeting iron oxide copper gold style mineralization (IOCG) characterized by gold and copper mineralization associated with ironstone bodies, likely of the Tennant Creek Style. These ironstone bodies have varying degrees of hematite and magnetite often forming discrete geophysical targets and are stereotyped by the bonanza gold intersections seen at Tennant Creek. King River Resources has had good success with its programmes so far in the Tennant Creek region with the discovery on a new Ironstone under shallow Cambrian cover at EL31619 +10km east of Tennant Creek (KRR ASX:5/11/20), the award of a geophysical collaboration (2020 - Round 13) programme with the NT government and these latest high grade rock chip results at Kurundi. The company plans to continue its exploration in the Tennant Creek region during the first half of including: reconnaissance at the Kurundi Project 2021 and surrounding tenements, soil sampling in the areas around Edmirringee and Whistle Duck, ground magnetics and gravity on EL31619 (to test prospective ground immediately east of the Blue Moon and Gigantic mines) and further airborne magnetics in the Barkley region. The work in the first half of the year will be in preparation for drilling of best targets later in the year. Announcement • Feb 24
King River Resources Limited Announces New High-Grade Gold Intersection, on a Vein Other Than the Trudi Vein, at its Mount Remarkable Project, in Western Australia King River Resources Limited announced a new high-grade gold intersection, on a vein other than the Trudi Vein, at its Mount Remarkable Project, in Western Australia. Best result of 2m @ 8.44g/t Au including 1m @ 14.8g/t Au at the Jeniffer Vein has been returned from the latest results of the 2020 Reverse Circulation ("RC") drilling. This is the first +10g/t gold result outside of the Trudi Main prospect and is very encouraging for exploration of other veins at the main Mt remarkable project area and on other KRR exploration tenements in the region. Also, significant results have been returned from exploration drilling at Trudi Offset (150m east of the main Trudi zone), Trudi East and other exploration targets. A total of 33 holes for 2,310m were drilled late last year and all assays have now been returned. Jeniffer North: Eight RC holes were drilled at Jeniffer North, in 2020, over a strike length of 250m. Results for the last 2 holes have been returned. KRR267 returned a high-grade intersection of 2m @ 8.38g/t Au including 1m @ 14.8g/t Au within a 5m zone @ 3.45g/t Au. This intersection is 3km from the main Trudi Vein, outside of the main project Area. KRR266 returned 3m @ 1.02 including 1m @ 1.43g/t Au. Trudi Offset: Result have been returned for KMRC255 (Table 2), the eastern most of five holes drilled to test the mineralized zone discovered in 2019, on what is interpreted to be the offset position of the Trudi Vein, 150m east of the main Trudi deposit. The hole intersected 2m @ 0.15g/t Au and 4m @ 0.33g/t Au including 1m @ 0.67g/t Au within a 13m anomalous zone averaging 0.13g/t Au. This mineralisation is associated with significant structure and quartz-adularia veining interpreted to be the offset position of the Trudi vein. Other assay results previously announced from this target include best result of 2m @ 2.87g/t Au including 1m @ 4.34g/t Au from KMRC0248. These results warrant further exploration drilling above and down plunge of the 2020 intersections. Trudi East: Results for the remaining 3 of the 5 holes drilled at Trudi East have been returned. Low grade mineralisation was intersected in all but the shallowest eastern most hole with best result returned from KMRC255 which intersected 3 zones: 4m @ 0.25g/t Au from 8m, 1m @ 0.1g/t Au from 16m and 1m @ 0.15g/t Au from 30m at the western end of the drilling. Drilling at Trudi East was designed to test a section of vein over 500m east of the main Trudi deposit and covers a strike of 70m with low grade mineralsation intersected in all but one hole. Mineralisation is considered open to the east, west and at depth and further drilling is planned to explore for higher grade gold zones. Other Results: Assay results were also returned for Trudi West, Catherine/Grahame Vein intersection and Gemma Offset vein with low grade mineralisation (>0.1g/t Au) returned from all targets. The Catherine Vein target is in a similar litho-structural setting to the Trudi vein where it intersects the Grahame Vein under interpreted cover units. This target is 400m north of the main Trudi deposit. Two RC holes were drilled and intersected significant quartz-adularia veining confirming the interpreted targeted position of the Catherine Vein, 1m @ 0.25g/t Au was returned from KMRC269 which is the furthest east hole so far. The results are very encouraging presenting an excellent structural target to the east. Gemma Offset Vein target where historical sampling returned gold grades up to 0.72g/t in rock chip grab sampling along 300m of strike but the vein was never drilled. One RC hole was drilled intersecting weak quartz veining and chlorite alteration with assay results returning 1m @ 0.19g/t Au. Planned Exploration at Mt Remarkable: Results from the 2020 RC drill programme have been very encouraging with a new high-grade zone identified at the western end of the Trudi grid drilling (previous KRR announcement: 27/1/21) and with the first +10g/t Au high grade drill intersection from a vein other than Trudi. Announcement • Jan 29
King River Resources Ltd Announces the Discovery of a New High-Grade Gold Zone at its Mount Remarkable Project, in Western Australia King River Resources Ltd. announced the discovery of a new high-grade gold zone at its Mount Remarkable Project, in Western Australia. Best result of 6m at 5.25g/t Au including 1m at 30.1g/t Au has been returned from 2020 Reverse Circulation ("RC") drilling at the western side of the main Trudi 5m grid drilling. Also, significant results have been returned from exploration drilling at Trudi Offset (150m east of the main Trudi zone) and at Jeniffer North. A total of 33 holes for 2,310m were drilled late last year with assays pending for 11 holes. Trudi Main Assay results from 5m RC grid drilling on the western side of the Trudi Main project have returned high grade gold results including best down hole result of 6m at 5.25g/t Au including 1m at 30.1g/t Au from KMRC0278 and 14m at 2.23g/t Au including 5m at 5.26 or 2m at 8.85g/t Au from KMRC0270. Previous grid drilling (2018/2019) focused on extending and identifying new high-grade zones on the eastern side of the Trudi deposit and the company is encouraged by this newly discovered high-grade zone to the west. Mineralisation is open to the west and at depth on a westerly plunge. Five holes were drilled to test the mineralized zone discovered in 2019 on what was interpreted to be the offset position of the Trudi Vein 150m east of the main Trudi deposit. All holes intersected significant structure and quartz-adularia veining confirming the offset position and orientation of the Trudi vein. Assay results for four of the holes have been returned with best result of 2m at 2.87g/t Au including 1m at 4.34g/t Au from KMRC0248. Seven RC holes were drilled at Jeniffer North over a strike length of 250m. Assay results for five of the seven RC holes have been returned with low-grade mineralisation returned in two holes. The western most hole (KMRC260) intersected 2m at 0.66g/t Au meaning mineralisation is open to the west. Assay results for the two eastern most holes are still pending. Results for two of five RC holes from exploration drilling 500m east of the main Trudi deposit have been returned with best result of 3m at 0.66g/t Au including 1m at 0.91g/t Au from KMRC0247. Assay results for three holes are pending. Assay results are still pending from RC drilling at Trudi West, Catherine/Grahame Vein intersection and Gemma Offset vein as well as for holes from Jeniffer North, Trudi Offset and Trudi East. The Catherine Vein target is in a similar litho-structural setting to the Trudi vein where it intersects the Grahame Vein under interpreted cover units. This target is 400m north of the main Trudi deposit; Two RC holes were drilled and intersected significant quartz-adularia veining confirming the interpreted targeted position of the Catherine Vein. Gemma Offset Vein where historical sampling returned gold grades up to 0.72g/t in rock chip grab sampling along 300m of strike but the vein was never drilled. One RC hole was drilled intersecting weak quartz adularia veining. Announcement • Dec 17
King River Resources Limited Provides High Purity Alumina Prefeasibility Study Update King River Resources Limited announced to provide this High Purity Alumina Prefeasibility Study update. KRR decided to change the PFS plan for the production of HPA from a Kimberley-based mining operation to an industrial site in Western Australia using the Company's HPA process on aluminium chemical feedstocks derived from other industrial processes. The change in direction has been identified as a consequence of metallurgical testwork and engineering costings as part of the PFS on the Speewah Project. KRR believes this change will assist in completing the PFS, fast track the production of HPA, and improve the business case. KRR has considered several sites in Western Australia and Queensland, and has decided on the Kwinana area located within the Western Trade Coast industrial area, 30-40 km south of Perth's CBD on the eastern side of Cockburn Sound. The WTC is the State's premier industrial area and is well-served by major transport links, including deep-water bulk port facilities, freight routes and heavy rail. There are four main industrial estates within the WTC - the Kwinana Industrial Area, Rockingham Industry Zone, Australian Marine Complex, and Latitude 32. The WTC is close to a skilled and productive workforce, hosts specialist centers for chemical and resource-based processing, marine engineering and ship-building, and has industrial land areas specifically set aside for companies wishing to invest in downstream processing and other heavy or strategic industrial activities, including the Lithium Valley concept plan. Land sales and leasing is managed through the Department of Jobs, Tourism, Science, and Innovation, and Development WA. Discussions with the relevant authorities for a suitable site in the KIA or RIZ will commence shortly. KRR has engaged with an environmental consultant with experience in the Kwinana industrial area to assist with site selection and permitting requirements for the type of chemical processing required for a HPA operation. Preliminary advice is the selection of the KIA as a site for the HPA Plant is sound as it is a large industrial area specifically created for this type of activity and provides adequate separation from sensitive receptors. The KIA has specific criteria for the protection of ambient air quality and noise standards that reflects the industrial land use. The environmental and permitting investigation is ongoing and should be finalised by mid-January 2021. Como Engineers are redesigning and costing the process flowsheet based on the simplified metallurgical process testwork. Como has estimated a completion date of end of January 2021 for the preliminary design and costings. The new HPA production circuit based on an industrial chemical feedstock is a simpler process than the Speewah operation and would not require the development of associated mining, processing and logistical infrastructure in the Kimberley of Western Australia. KRR has previously announced the successful production of a high purity Precursor compound from the industrial feedstock. Two more batches of Precursor have been produced at a larger scale from the same industrial chemical feedstock with similar results. Testwork and analytical assay checks are underway to reduce the impurity levels in the Precursor compound to below 1ppm per element to ensure a 4N (99.99% Al2O3) HPA purity product on calcination. KRR's decision to modify the PFS to deliver HPA from an alternative chemical feedstock will require additional engineering, testwork and permitting studies now underway. Allowing for the additional engineering and testwork requirement, the modified PFS is now expected to be delivered in First Quarter 2021. The Speewah mine development testwork and studies will continue, but the PFS will focus on an industrial site in Kwinana using the Company's HPA process on aluminium chemical feedstocks derived from other industrial processes. Announcement • Nov 19
King River Resources Limited Announces to Provide High Purity Alumina Prefeasibility Study Update King River Resources Limited announced to provide this High Purity Alumina (HPA) Prefeasibility Study (PFS) update. A decision has been made to deliver the PFS using HPA process using aluminium chemical feedstocks derived from other industrial processes. This HPA operation would be based at an industrial estate rather than at Speewah in the Kimberley of Western Australia. The change in direction has been identified as a consequence of HPA testwork underway as part of the PFS on the Speewah Project. KRR believes this will assist in completing the PFS, fast track the production of HPA, and improve the business case. Recently, KRR announced the successful production of a high purity precursor compound from the industrial feedstock. Testwork is underway to further reduce the impurity levels in the precursor compound and improve the HPA purity. The alternative production circuit is a simpler process than the original process flow sheet involving fewer purification steps, and it does not require the development of a mining operation, beneficiation plant, acid plant, leach tanks, filtration, neutralisation or tailings facilities, or associated infrastructure for a remote mining operation (haul road, accommodation camp, airstrip, borefield), and would involve less transport of reagents and products. Earlier this week Como Engineers delivered the preliminary CAPEX and OPEX costings for the Speewah processing plant and associated infrastructure, which are in line with expectations. This engineering study has highlighted the potential benefits of utilising the simpler process flowsheet based on an industrial chemical feedstock, namely: fewer process circuits and less plant and equipment; CAPEX savings; lower OPEX; fewer process and logistical components to implement that may de-risk and fast track through Definitive Feasibility Studies (DFS), permitting, financing, construction and HPA production. KRR's decision to modify the PFS to deliver HPA from an alternative chemical feedstock will require additional engineering, testwork and permitting studies now underway. The new HPA development plan does not preclude the future integration of the KRR's HPA process with a flowsheet to produce vanadium and titanium products. The strong forecast demand for grid battery storage and lithium ion batteries especially in electric vehicles makes for a compelling business case to produce high purity products used in these green technologies. Announcement • Oct 13
King River Resources Limited Provides High Purity Alumina Update King River Resources Limited is progressing the Speewah Prefeasibility Study ("PFS") on the company's 100% owned Speewah Specialty Metals ("SSM") Project in the East Kimberley of Western Australia. The KRR PFS has retained a Kimberley focus that would produce High Purity Alumina (HPA), with any future potential co-products Vanadium (V2O5), Titanium (TiO2) and Iron (Fe oxide) not included in this initial study. Following the KRR ASX release 7 September 2020, further significant PFS developments have been the focus of testwork and studies: KRRs metallurgical testwork using its simplified purification process has produced a high purity precursor compound with the main contaminant metals (Na, K, Si, Fe, Ca, Mg and Ga) each at very low levels (about 1ppm or less than 1ppm). This precursor (see photograph below) may be suitable for the production of 4N (99.99% Al2O3) HPA after calcination (heating to 1200°C) and washing. These very low (±1ppm) contaminant levels are required because on calcination the mass (and volume) of the precursor is significantly reduced due to off-gassing of volatile elements, which causes the levels of contaminants to increase in the final HPA calcined product. Calcination of the HPA precursor (at 1200°C) is the current focus of testwork to ensure no contamination is introduced during the heating process and 4N (99.99% Al2O3) HPA is produced. The first batch of HPA samples of different alumina grades produced in previous test runs has been submitted to an independent umpire laboratory to provide greater confidence in testwork assays and help identify sources of contamination in the testwork. CSA Global has updated the Mining Study based on the simplified flowsheet with improved overall recovery and lower throughput. CRU International is finalising the HPA market study to a 2028 dateline. Como Engineers is working on completing the process plant and infrastructure design and costings based on the updated flowsheet and the final production of 4N HPA. The Company aims to release the PFS as soon as practicable on completion of these remaining outcomes. In parallel with completing the PFS outlined above, the Company is continuing to progress metallurgical testwork and engineering studies using HPA process route on alternative aluminium feedstocks. Testwork has demonstrated that a high purity HPA precursor can readily be made with fewer process steps. The implication is that start up HPA development may be initially focused around a Perth industrial estate, without the immediate capital and permitting needs of building a Kimberley based acid plant adjacent to a mining and processing operation. Announcement • Sep 26
King River Resources Limited Auditor Raises 'Going Concern' Doubt King River Resources Limited filed its Annual on Sep 24, 2020 for the period ending Jun 30, 2020. In this report its auditor, Ernst & Young LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Sep 25
Full year earnings released - AU$0.00089 loss per share Over the last 12 months the company has reported total losses of AU$1.12m, with losses widening by 38% from the prior year. Announcement • Aug 18
King River Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7.86124 million. King River Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 7.86124 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 238,219,394
Price\Range: AUD 0.033 Announcement • Jul 18
King River Resources Limited announced that it expects to receive AUD 2 million in funding King River Resources Limited (ASX:KRR) announced a private placement of 66,666,669 ordinary fully paid shares at an issue price of AUD 0.03 per share for gross proceeds of AUD 2,000,000.07 on July 16, 2020. The transaction will involve participation from professional and sophisticated investors. The company will issue one free attaching option for every two shares issued, with an exercise price of AUD 0.06 per share and an expiry date of July 31, 2022. The shares are expected to be issued by July 27, 2020. The placement options are expected to be issued on or around the same time as the Security Purchase Plan. 
