New Risk • Oct 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$721k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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$721k free cash flow). Shares are highly illiquid. Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (AU$9.4k revenue, or US$6.2k). Market cap is less than US$10m (AU$5.41m market cap, or US$3.58m). New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 Shares are highly illiquid. Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.61m market cap, or US$3.02m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Sep 09
Resource Base Limited, Annual General Meeting, Nov 26, 2025 Resource Base Limited, Annual General Meeting, Nov 26, 2025. Board Change • Aug 11
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. Non-Executive Independent Director Paul Hissey 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. Board Change • May 13
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. Non-Executive Independent Director Paul Hissey 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. Board Change • Mar 19
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. Non-Executive Independent Director Paul Hissey 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. Board Change • Feb 26
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. Non-Executive Independent Director Paul Hissey 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. Announcement • Feb 26
Resource Base Limited has announced a Derivatives Offering in the amount of AUD 0.086388 million. Resource Base Limited has announced a Derivatives Offering in the amount of AUD 0.086388 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 28,796,121
Price\Range: AUD 0.003
Transaction Features: Rights Offering 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: 39% 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 Shares are highly illiquid. Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.26m market cap, or US$2.65m). Board Change • Jan 14
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. Non-Executive Independent Director Paul Hissey 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. Announcement • Dec 03
Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 0.975 million. Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 0.975 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,600,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,900,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing Announcement • Oct 19
Resource Base Limited has filed a Follow-on Equity Offering in the amount of AUD 0.975 million. Resource Base Limited has filed a Follow-on Equity Offering in the amount of AUD 0.975 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,600,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,900,000
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Transaction Features: Subsequent Direct Listing New Risk • Sep 24
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 Less than 1 year of cash runway based on free cash flow trend (-AU$1.9m free cash flow). Shares are highly illiquid. Earnings have declined by 46% per year over the past 5 years. Revenue is less than US$1m (AU$14k revenue, or US$9.6k). Market cap is less than US$10m (AU$2.81m market cap, or US$1.93m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • Sep 18
Resource Base Limited, Annual General Meeting, Nov 21, 2024 Resource Base Limited, Annual General Meeting, Nov 21, 2024. Board Change • Feb 05
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Non-Executive Independent Director Paul Hissey is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Sep 21
Resource Base Limited, Annual General Meeting, Nov 23, 2023 Resource Base Limited, Annual General Meeting, Nov 23, 2023, at 10:00 W. Australia Standard Time. Location: Level 8, 99 St Georges Terrace, Perth Western Australia Australia Agenda: To approve the election and appointment of directors. Announcement • May 19
Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 1.32 million. Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 1.32 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,000,000
Price\Range: AUD 0.12
Discount Per Security: AUD 0.0072
Transaction Features: Subsequent Direct Listing Announcement • Feb 04
Resource Base Limited Announces A Major Milestone Through Delivery of A Maiden Mineral Resource Estimate At El007647, Part of the Company's Mitre Hill Ree Project Resource Base Limited announce a major milestone through delivery of a maiden Mineral Resource estimate at EL007647, part of the Company's Mitre Hill REE Project. The maiden JORC Inferred Mineral Resource estimate of 21 Mt @ 767 ppm TREO consists of thick zones of near-surface mineralisation. Significantly, the existing resource has the potential to substantially grow in size and scale as the Mineral Resource estimate only incorporates 38-62% of the identified Exploration Target drilled to date. The Company has also completed significant aircore drilling in Exploration Lease EL 7646 located approximately six (6) km east of EL 7647 however is not included in this Mineral Resource Resource Base has estimated an Exploration Target at EL007647 of 13 Mt 34 Mt at 630-830 ppm TREO. estimate. Following completion of the maiden Mineral Resource estimate, Resource Base is evaluating a follow-up aircore program to convert a portion of the Exploration Target to a JORC resource, and to test further extensions of REE mineralisation the Mitre Hill REE project. In total 142 vertical air core holes for 2,052 m of drilling was completed to ascertain the Mineral Resource estimate. A cut-off grade of 325 ppm TREO-CeO2 was used for reporting purposes on a peer comparison of publicly available information and comparable clay-hosted mineralisation. Dominant drill hole spacing has been stated at 200m spacing with 400 m to 1,400 m between transects, which was considered appropriate for the JORC Inferred Mineral Resource Classification and Exploration Target as applied. The ~2 kg samples for geochemical analysis were collected and assayed by Bureau Veritas laboratory in Adelaide, South Australia. Intervals were at 1m samples from each 1 m plastic bag. Near the end-of-hole narrower composite sample intervals, usually 3 m to 1 m depending on the depth of the reminder of the hole. A representative sample was taken by spearing from each one metre bulk sample and depositing into calico. Field duplicates were taken for every metre sample. Additionally, a representative 1 m calico sample was also speared from each bulk sample bag and kept as master sample. Sample lengths were determined by geological boundaries with a maximum sample length of 1 m. Bureau Veritas analysed, weighed and prepared whole samples within the laboratory in Adelaide, South Australia. Each sample was identified and a sample of 3 kg or less underwent pulverising to achieve better than 85% passing 75 microns. Elements include Sc, Th, U, Y, La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb and Lu; with elements analysed at ppm levels. Sc was determined by Inductively Coupled Plasma (ICP) Optical Emission Spectrometry whilst all remaining elements have been Determined by Inductively Coupled Plasma (ICP) Mass Spectrometry. The Mineral Resource estimate was conducted using Datamine Studio RM. Inverse Distance Weighting `ID3' techniques were used to interpolate assay grade from the drill hole samples to interpolate index values and non- numeric sample identification into the block model. Ordinary Kriging was also used to interpolate TREO grade into the block model to be used as a validation check against the inverse distance weighting technique. The model has a block size of 100 m (X) x 100 m (Y) x 1 m (Z) with sub-cell splitting of 6 x 6 to provide increased resolution of the undulating morphology of the deposit. A discretisation array of 2 x 2 x 1 was used for the parent cell grade interpolation. Appropriate and industry standard search ellipses were used to search for data for the interpolation and suitable limitations on the number of samples and the impact of those samples was maintained. The search ellipse was equal in size both along and across strike as no dominant grade strike direction exists for the deposit. No assumptions were made during the resource estimation as to the recovery of by-products. Further detailed characterisation and leach of ionic clay sample studies are required that may affect the marketability of the heavy mineral products. The Mineral Resource estimate and Exploration Target was controlled to an extent by the geological/mineralisation and basement surfaces. Grade cutting or capping was not used during the interpolation because of the regular nature of sample spacing and the minimal number of statistical outliers. Statistical analysis of composited drill holes by domain was undertaken to compare against the un-composited data and showed a satisfactory relationship which concluded that grade cutting or capping was not required at this stage of exploration. Validation of grade interpolations were done visually in Datamine Studio RM software by loading model and drill hole files and annotating and colouring and using filtering to check for the appropriateness of interpolations. Statistical distributions were prepared for model zones from drill hole and model files to compare the effectiveness of the interpolations. Along strike distributions of section line averages (swathe plots) for drill holes and models were also prepared for comparison purposes. Announcement • Dec 16
Resource Base Ltd Announces Results from Drilling on El007647 During Early October from the Bureau Veritas Assay Laboratory in Adelaide Resource Base Ltd. announced results from drilling on EL007647 during early October have been received from the Bureau Veritas assay laboratory in Adelaide. Ongoing results from recent drilling on EL007647 continue to identify excellent REE mineralization. Exciting intercepts from the recent batch include 2.5m @ 1,841 ppm TREO, 2m @ 2,010 ppm TREO, 2m @ 1,344 ppm TREO, 4m @ 1,142 ppm TREO and outstanding 1m intervals of 2,447 ppm TREO, and 1,336 ppm TREO. These results continue to support the REE prospectively of EL007647 and are expected to form the basis for a significant maiden JORC compliant resource, planned to be released in first quarter of 2023. The Company believes the Murray Basin has the potential to be a globally significant REE precinct. Drilling results have confirmed the occurrence of shallow mineralization, across the two drilled tenements of the Mitre Hill Project, this occurrence is aligned with a horizontal development strategy. The Company continues to test its geological hypothesis and rapidly expand the footprint of mineralization across its tenement package and is anticipating an initial inferred JORC Compliance Resource by end of first quarter of current year 2023. Announcement • Dec 15
Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 0.7045 million. Resource Base Limited has completed a Follow-on Equity Offering in the amount of AUD 0.7045 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,393,333
Price\Range: AUD 0.075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: AUD 0.075
Transaction Features: Subsequent Direct Listing Announcement • Nov 23
Resource Base Limited Announces the Appointment of Mr. Daniel Smith as Company Secretary Effective 25 January 2023 Resource Base Limited announced the appointment of Mr. Daniel Smith as Company Secretary effective 25 January 2023, and operating as a consultant during the handover period. Mr. Smith is a director and co-founder of Minerva Corporate Pty Ltd, a boutique corporate services and advisory firm. Mr. Smith holds a Bachelor of Arts, is a Fellow of the Governance Institute of Australia, and has 15 years primary and secondary capital markets expertise. He has advised on and been involved in over a dozen IPOs and RTOs on the ASX, AIM and NSX. He is currently non-executive director and/or company secretary for a number of companies operating in the resources sector and has been heavily involved in project origination and evaluation. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Non-Executive Independent Director Paul Hissey is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Oct 29
Resource Base Limited Announces Results from Drilling on EL007647 During Early-Mid September Have Been Received from the Bureau Veritas Assay Laboratory in Adelaide Resource Base Ltd. announced results from drilling on EL007647 during early-mid September have been received from the Bureau Veritas assay laboratory in Adelaide. Results from Drilling EL007647 Ongoing results from drilling on EL007647 continue to identify excellent REE mineralisation. Recently received results returned significant mineralisation (>350ppm TREO) in 80% of the holes. Results from 36 holes were received from the Bureau Veritas lab in Adelaide. Exciting intercepts from the recent batch include 3m @ 1,585 ppm TREO, 3m @ 1,548 ppm TREO and outstanding 1m intervals of 3,261 ppm TREO, 2,870 ppm TREO and 2,860 ppm TREO. Announcement • Oct 25
Resource Base Limited Announces Multiple Shallow High Grade Ree Hits from Tenement Resource Base Ltd. announced results from 28 drillholes from EL007647 drilling during early September have been received from the Bureau Veritas assay laboratory in Adelaide. Ongoing results from drilling on EL007647 continue to identify excellent REE mineralisation. Recently received results returned significant mineralisation (>350ppm TREO) in 89% of the holes. Results from 28 holes were recently received from the Bureau Veritas lab in Adelaide. The Company believes the Murray Basin has the potential to be a globally significant REE precinct. Drilling results have confirmed the occurrence of shallow mineralisation, across the two drilled tenements of the Mitre Hill Project, this occurrence is aligned with a horizontal development strategy, i.e. large scale landholding. In line with this horizontal development strategy the Company has expanded its footprint within the region with a view to develop a globally significant, long-life rare earths business at its 100% owned Mitre Hill Project. The Company continues to test its geological hypothesis and rapidly expand the footprint of mineralisation across its tenement package. Announcement • Oct 10
Resource Base Limited Announces High Priority Tenement El007647 Results Resource Base Ltd. announced results from 87 drillholes from EL007646 and EL007647 drilling during July and early August have been received from the Bureau Veritas assay laboratory in Adelaide. EL007647 First results returned from initial 16 holes drilled on EL007647 are very exciting, with 14 of the 16 holes, or 88%, intersecting mineralisation. Refer figures 1 - 3 for mineralised drill holes and cross sections. From the 16 holes, exciting intervals of 5m @ 1,106ppm TREO, 6m @ 619ppm TREO and 7m @ 640ppm TREO with a maximum single meter grade of 2,502 ppm TREO have been returned. A great start to exploration on this tenement and indication that the trend of Australian Rare Earths Ltd. mineralisation of their Red Tail and Yellow Tail deposits 1 likely extends across to the south-east and into EL007647, refer figure 4 for EL007647 tenement location. Geologically, mineralisation at EL007647 is very similar to other Murray Basin clay hosted REE mineralisation reported in the region and quite like that at EL007646 with the addition of dune sands overlying the clayey horizons. Drilling is ongoing at EL007647 which is a well-drained sandy rise and should be accessible for drilling throughout this unusually wet Spring season. The Murray Basin The Company believes the Murray Basin has the potential to be a globally significant REE precinct. Drilling results have confirmed the occurrence of shallow mineralisation, across the two drilled tenements of the Mitre Hill Project, this occurrence is aligned with a horizontal development strategy, ie. large scale landholding. In line with this horizontal development strategy the Company has expanded its footprint within the region with a view to develop a globally significant, long-life rare earths business at its 100% owned Mitre Hill Project. The Company continues to test its geological hypothesis and rapidly expand the footprint of mineralisation across its tenement package. Announcement • Oct 04
Resource Base Limited, Annual General Meeting, Nov 11, 2022 Resource Base Limited, Annual General Meeting, Nov 11, 2022, at 10:00 W. Australia Standard Time. Board Change • Oct 02
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Jamie Myers is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 23
Resource Base Limited Auditor Raises 'Going Concern' Doubt Resource Base Limited filed its Annual on Sep 21, 2022 for the period ending Jun 30, 2022. In this report its auditor, BDO LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Aug 23
Resource Base Limited Announces Following Update on Exploration Activities At Its 100% Owned Mitre Hill Project Resource Base Limited announced the following update on exploration activities at its 100% owned Mitre Hill Project. The Mitre Hill Project is prospective for clay hosted Rare Earth Elements (REE) within the southern margin of the Murray Basin. The Project consists of four granted tenements in Victoria, one granted tenement in South Australia and twenty two applications in Victoria. Tenement EL007646 represents less than 1% of the total Mitre Hill Project landholding and as such this project as the potential to yield scale. Results from 56 of the 125 aircore holes drilled in the step out program on farmland within EL007646 have been received from the Bureau Veritas assay laboratory in Adelaide. The mineralisation is very shallow with an average depth to the upper boundary of the Mineralisation only 5m and occurs in clayey sediments located proximal to the upper boundary of an underlying limestone unit which is known to be very widespread throughout the region. These results prove the consistency of mineralisation and gives the exploration team confidence in planning step out drilling from broadly spaced reconnaissance programs utilising easily accessible roadsides. These results confirm that the exploration models used for planning drill programs and the broader expansion of project tenement coverage are correct and likely to continue to identify mineralisation further afield across the company's package of tenements. Refer figure 3 for Mitre Hill tenement areas including a breakout highlighting tenement EL007646. Samples from the first 15 holes have now been shipped to the laboratory for analysis with results expected during October. Announcement • Aug 04
Resource Base Limited Provides Update on Its Initial Step Out Drilling Program Resource Base Limited provided an update on its initial step out drilling program, targeting the northwest section of tenement EL007646 where higher grade clay hosted REE was discovered in an earlier drilling program, has been completed. Geological logging of the drill holes has identified ferruginous clayey intervals visually like those previously found to be hosting REE mineralisation in earlier drilling. These clayey horizons are consistently developed across the extent of the step-out drilling and continue up to the southern border of the recently granted EL007640, a distance of approximately 1.5km. Details of the recently completed drillholes containing visually identified ferruginous clayey horizon targeted for REE mineralisation. The initial step out drilling was completed on a 200m x 100m spacing, with a total of 125 holes completed for a total of 1,348m. Further step out drilling will be completed in this area once the winter rains clear and ground conditions improve later in the year. The drilling program will continue to test across the extent of EL007646 as well as extending onto and beginning to broadly test EL007640 to the north in due course and as prevailing weather conditions allow. Air Core Drill: The Company's newly acquired air core drill rig has now been fully commissioned including the recruitment and training of the operating crew. The drilling operations have performed above expectations with many of the expected benefits being exceeded. In particular the continuous operation, flexibility and significantly reduced costs are being realised. Laboratory Results: The Company anticipates receiving the first batch of sample results from the laboratory by mid to late August. JORC Resource: The Company is working towards establishing a JORC Compliant Resource by end of first quarter 2023. Near Term Drilling Activity: Air core drilling will commence imminently on high priority tenement EL007647 located closely to and along strike from AR3's Red Tail and Yellow Tail JORC compliant REE resources. Initially broad spaced drilling along existing road accesses will be undertaken which will be then followed up with closer spaced step out drilling. Announcement • Jul 29
Resource Base Limited Announces Sulphide Mineralisation Intersected At Callisto Prospect Resource Base Limited advise that results have been received for its most recent reconnaissance air-core drilling program over its Black Range project situated within the well-known and highly prospective Stavely Volcanics corridor50km south of Horsham in western Victoria. A majority of the drilling was aimed at regional targets across the central part of the tenement EL4590 with the objective of locating additional VHMS or intrusive related gold and base metal targets further afield from the known Eclipse and Nebula mineralisation. Drilling on the Callisto target sought to test a similar stratigraphic position to the Eclipse VHMS mineralisation some 2km along geological strike to the North. Sulphide rich mineralisation with highly anomalous Gold, Silver and Zinc has been intersected over an interval of 8m on the western margin of the same magnetic unit which lies on the eastern side of the Eclipse mineralisation. This stratigraphic position is interpreted to be the eastern margin of a narrow half-graben basin formed during the deposition of the volcano-sedimentary Mt Stavely Volcanics and a prospective horizon for development of VHMS mineralisation. Announcement • Jul 27
Resource Base Limited Further Expands Footprint at Mitre Hill Ree Project Resource Base Limited announced that it has submitted five (5) Exploration Licence applications totaling 2,230km2 in Victoria for tenements it considers to be prospective for clay hosted Rare Earths (REE). These five (5) new applications would grow the Mitre Hill clay hosted REE project footprint to 4,830km2 provided all applications are granted. The Mitre Hill Project would remain the second large land position in the southern margin of the Murray Basin an emerging globally significant clay hosted Rare Earth precinct. The company's geological model and hypotheses indicates that these new tenements if granted could be highly prospective for clay hosted REE and add significantly to the project footprint and scale. RBX currently has twenty-two (22) tenements, comprising seventeen (17) applications and four (4) granted tenements the southern margin of the Murray Basin in western Victoria and one (1) granted tenement in South Australia. The areas targeted by these applications are considered by the Company to have significant potential for clay hosted Rare Earth mineralisation. Announcement • Jun 23
Resource Base Limited Announces Three Tenements Granted at Mitre Hill REE Project Resource Base Limited announced the Company has been granted tenements EL007640, EL007641 and EL007647 located in Victoria at its highly prospective clay hosted REE Mitre Hill Project ("Mitre Hill"). The Company now has 5 tenements granted and 12 applications in progress. Tenement EL007640 shares a boundary with Resource Base's existing tenement EL007646, where the Company recently announced the discovery of widespread clay hosted REE mineralisation including, a higher-grade zone of clay hosted REE mineralisation, with grades up to 1,421 ppm TREO from 3m below surface, which is open to the new tenement. Tenement EL007641 borders land held by a third party that has reported intercepts of clay hosted REE >500ppm TREO, and tenement EL007647 borders AR3 JORC 2021 Inferred Mineral Resource 39.9Mt at 725ppm TREO as well as land that has reported intercepts of clay hosted REE >500ppm TREO. The Company will commence initial broad scale roadside drilling on the newly granted tenements immediately following completion of the step out drilling currently underway on tenement EL007646. The step out drilling that is underway on tenement EL007646 is further progress towards allowing the Company to define an initial REE JORC Compliant Resource. Broad scale roadside drilling and step out drilling that will follow on the newly granted tenements should further the Company's ability to establish an initial REE JORC Compliant Resource. Announcement • Jun 21
Resource Base Limited Announces Step Out Drilling Starts Following Significant REE Discovery Resource Base Limited announced that step-out air core drilling has started across tenement EL007646. The step-out drilling program will commence from the northwest area of the tenement where higher grade clay hosted REE mineralisation was discovered with the goal of demonstrating broad scale continuity. Results of the first program correlate very well with results from across the southern margin of the Murray Basin in SA and VIC, with highly consistent broad, shallow zones of mineralisation showing 1-2m intervals >500ppm TREO. The Company is targeting confirmation of thicker intervals of REE mineralisation as drill spacing is reduced, which would be consistent with other projects in the region. The mineralisation's shallow nature is highly encouraging and could lead to improved project economics in the future. The Company will be utilising its recently acquired air-core drilling rig ("rig"). The rig will generate substantial cost savings for all future drilling. The Company will also be utilising its newly purchased in-field XRF analyser to enable real-time geological examination of the samples as drilling is conducted. This will also substantially reduce costs by reducing the volume of samples beingsent to the laboratory. Air core drilling will continue on to other Mitre Hill project tenements following the completion of the step out drilling program. This first phase of grid-based air-core drilling will be based on a hole spacing of 200m by 100m and will provide sample material for mineralogy and metallurgy test work in addition to mapping the extent of higher grade REE mineralisation and variations in thickness. This drilling program is further progress towards allowing the Company to define an initial REE JORC Compliant Resource. Figure 1 below illustrates the initial drilling program drill holes and the confirmed higher grade REE zone where drilling will commence. Of the initial drilling program that focused on broadly spaced roadside drilling 70% of the 34 holes drilled returned a grade above 500ppm TREO3. Due to market conditions in relation to cost and availability of drill rigs, the Company prudently invested in a fit for purpose rubber tracked air core drilling rig. The rig (Figure 2) below will provide substantial cost savings with immediate effect. The rig will allow the Company to manage its drilling programs, avoiding 3rd party delays and disruptions, whilst also enabling drilling scheduling to be in with landholder requirements, which will assist with managing key stakeholder relationships. From the time of purchasing the drill rig the Company has Had a detailed certification inspection of the rig completed and identified items addressed. Established the drill crew. Purchased or hired all necessary support equipment to enable safe drilling operations to Commence. Purchased and implemented a cloud-based Health, Safety, Environment & Training system to ensure that all the staff are trained and are working in strict accordance with current legislation, regulations, and industry best practices. Tenement EL007646 makes up only 28km² of Resource Base's 100% owned 2,600km² land holding (granted and applications). The clay hosted REE discovery confirmed the potential for broader occurrence of clay REE across the Company's tenements, consistent with the Company's geological hypothesis. Announcement • May 19
Resource Base Limited Announces Results from Its Initial Shallow Air Core Drilling Programme At Its 100% Owned Mitre Hill Rare Earths Project Resource Base Limited announce extremely good results from its initial shallow air core drilling programme at its 100% owned Mitre Hill Rare Earths project. The program focussed on broadly spaced drilling along roadside reserves on tenement EL007646, a 28km² part of RBX's 2,600 km² landholding. The program focussed on broadly spaced drilling along roadside reserves to begin the assessment of EL007646, the first of the Mitre Hill Project tenements to be granted. The principal objective of the program was to establish the depth and consistency of targeted clayey-sediments/limestone geological horizon which is known to host REE across the region. Anomalous intercepts are consistent across wide drill spacing. Smaller scale variation in thickness and grade is expected on 50-100m scale if the system continues to demonstrate similarities with the mineralisation at the nearby (12km) Australian Rare Earths (AR3) 3 owned deposit, where such variations have produced thicker zones of mineralisation. The location of the mineralisation was expected for the geological model applicable to this region. The Cross Sections show the location of the basal limestone unit with overlying clayey sediments and sands and the position of REE mineralisation relative to the geology. Tenement EL007646 Drilling Map, in the western part of the tenement, an identified higher-grade zone is only constrained to the East, while a broader anomalous zone has been delineated which covers most of the western and northern parts of the tenement. More drilling is required to test anomalism in the SE areas. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Jamie Myers is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 29
Resource Base Limited Announces Air-Core Drilling Commences at Black Range VHMS Project Resource Base Limited advised that air-core drilling has commenced on high priority targets at the Company's Black Range VHMS project situated within the well-known and highly prospective Stavely Volcanics corridor 50km south from Horsham in western Victoria. The Air-Core drilling enables the Company to undertake lower cost drilling that will allow for more efficient targeting of the more expensive diamond drilling programs that will follow in due course. This program is a continuation of the 3,000m drill program commenced in February, it is planned to drill the remaining 1,500m located in the southeast portion of the tenement and continue to systematically test these geophysical targets as well as continuing the process of assessing regional targets further afield across the Black Range tenement. Announcement • Mar 07
Resource Base Limited Drilling At Prospective REE Project Mitre Hill Resource Base Limited advised that its air-core drilling contractor is on-site at EL007646 on its 100% owned Mitre Hill project that is prospective for Ionic Clay Rare Earths. The program is focussed on drilling roadside reserves at an initial 500m spacing to begin assessment of EL007646, the first of the Mitre Hill Project tenements to be granted, with results expected to be returned in April. The Company has secured a rubber tacked air-core drill rig that ensures minimal ground disturbance and therefore minimising any environmental impacts. The Company is actively working with key project stakeholders including, landowners and the local community to develop strong relationships. EL007646 is located approximately 12km east of Australian Rare Earths (AR3) JORC 2021 Inferred Mineral Resource of 39.9Mt @ 725ppm Total Rare Earth Oxide (TREO). With the continuing exploration success neighbouring tenement holders are experiencing, such as Australian Rare Earths (AR3) the Company believes the Ionic Clay Rare Earth mineralisation that has been identified within the southern margin of the Murray Basin is potentially of significant regional scale with indications of an emerging Ionic Clay Rare Earths precinct. RBX currently has sixteen (16) tenements, fifteen (15) applications and one (1) granted tenement the southern margin of the Murray Basin in western Victoria and one (1) application in south-eastern South Australia. The areas targeted by these applications are considered by the Company to have significant potential to host Ionic Clay Rare Earth mineralisation. The Company has a significant land holding in the southern margin of the Murray Basin and believes it is very well positioned to play a key role in the emerging Iconic Clay Rare Earths precinct that is potentially of global significance. Announcement • Feb 24
Resource Base Limited Plans to Commence its 100% Owned Mitre Hill Rare Earths Project Resource Base Limited announced that drilling is on track to commence at its 100% owned Mitre Hill Rare Earths project as planned next month. With the continuing exploration success neighbouring tenement holders are experiencing, such as Australian Rare Earths (AR3) located approximately 12km from Resource Base's granted tenement EL007646, the Company believes the Ionic Clay Rare Earth mineralisation that has been identified within the southern margin of the Murray Basin is potentially of significant regional scale with indications of an emerging Ionic Clay Rare Earths precinct. RBX currently has 1 granted tenement and 3 applications within the southern margin of the Murray Basin in western Victoria and 1 application within the southern margin of the Murray Basin in south-eastern South Australia. The areas targeted by these applications are considered by the Company to have significant potential to host Ionic Clay Rare Earth mineralisation. These tenements account for 1,509km2 in the emerging Ionic Clay Rare Earth precinct across south- eastern South Australia and western Victoria. With the granted tenement EL007646 located approximately 12km from AR3 Red Tail and Yellow Tail JORC complaint Ionic Clay Rare Earths resources, the Company believes it is strategically positioned to take advantage of the development in this region as its Ionic Clay Rare Earth potential unfolds. Regional exploration by AR3 has confirmed Ionic Clay Rare Earth mineralisation extends at least 40km north of the existing Red Tail and Yellow Tail mineral resource area and recent exploration undertaken by Lions Bay on the exploration licences (ELs) held by Savic Minerals Pty Ltd. (Savic) shows further support for the Company's opinion that there is a potentially significant regional scale Ionic Clay Rare Earths precinct emerging in the southern margin of the Murray Basin. Globally, Ionic Clay Rare Earth resources are most significant in southern China and are the world's main source of Rare Earth Elements. Rare Earth elements are positioned to play a critical role in the future of clean energy, with demand being driven by increasing levels of investment in Electric Vehicles (EV) and the decarbonisation of power generation. Increasing geopolitical tensions and disrupted global supply chains has seen governments globally designate Rare Earths elements as critical minerals. This demand is only set to increase as Countries introduce measures such as zero-emission vehicle mandates and carbon emission reduction targets. The Company has a significant land holding in the southern margin of the Murray Basin and believes it is very well positioned to play a key role in the emerging Iconic Clay Rare Earths precinct that is potentially of global significance. Announcement • Feb 17
Resource Base Limited Announces Air-Core Drilling Commenced on High Priority Targets at it's Black Range Project Situated Within the Well-Known and Highly Prospective Stavely Volcanics Corridor 50Km South from Horsham in Western Victoria Resource Base Limited advised that air-core drilling has commenced on high priority targets at the Company's Black Range project situated within the well-known and highly prospective Stavely Volcanics corridor 50km south fromHorsham in western Victoria. The drill program will consist of up to 3,000m of air core drilling, which is a cost-effective and efficient method of following up on high priority targets highlighted by the geophysics program completed in late 2021. The Air-Core drilling enables the Company to undertake lower cost drilling that will allow for more efficient targeting for the more expensive diamond drilling programs that will follow in due course. Initial air-core drilling at Black Range completed 1,800m to test targets generated from IP/Resistivity and Gravity geophysical surveys completed in October 2021. It is planned to drill approximately 3,000m in the current program and continue to systematically test these geophysical targets as well as beginning the process of assessing regional targets further afield across the Black Range tenement. These regional targets have been defined from 1980's historical reconnaissance drilling and airborne geophysical data and ongoing exploration will determine if other Eclipse scale VHMS /Porphyry systems exist elsewhere on the Black Range tenement. The previous program conducted in December 2021 proved that air-core drilling using modern rigs and drill bit technology is able to penetrate well into the volcanic bedrock and provide the exploration team with exceptionally good samples to interpret the source of geophysical anomalies. Limitations lie only where younger rock formations, occurrences of the Grampians Sandstone, overly the targeted volcanic bedrock and put it beyond the depth capacity of these lightweight drilling rigs. Announcement • Feb 11
Resource Base Limited Announces Resignation of John Lewis as Non-Executive Director Resource Base Limited advised that Non-Executive Director John Lewis has resigned his position from the RBX Board effective immediately. Announcement • Jan 27
Resource Base Limited Commences Ground Exploration Works At Its Mitre Hill Rare Earths Project Resource Base Limited announced that it has commenced on ground exploration works at its Mitre Hill Rare Earths project. Works have commenced initially on granted tenement, EL007646 located in Victoria. Highlights: Boots on ground exploration works have commenced at the Mitre Hill project that, is prospective for shallow ionic clay hosted rare earth mineralization; On ground activities including geological mapping, assessment of drilling access and initial landowner introductions have commenced and will be ongoing throughout the quarter; Resource Base completed the acquisition of four (4) Exploration Licence Applications and one Exploration Licence (EL007646), over ground located within the Murray Basin across Victoria and South Australia (Mitre Hill Project); The Mitre Hill Project totals a significant package of 1,509km2 with potential to be prospective for ionic clay hosted Rare Earth Elements (REE); The Exploration Licence Applications comprising the Mitre Hill Project are located on either side of Australian Rare Earths' Red Tail and Yellow Tail deposits which contain a JORC 2012 Inferred Mineral Resource of 39.9Mt @ 725ppm Total Rare Earth Oxide (TREO). Announcement • Dec 15
Resource Base Limited Provides an Update on Progress of Its Initial Air-Core Drilling Program At Its Black Range Project Resource Base Limited provided an update on progress of its initial air-core drilling program at its Black Range Project located in the well-known and highly prospective Stavely Volcanic corridor in North-West Victoria, which is prospective for copper, gold, and zinc. The initial program has now finished with 1,800 meters of air-core drilling having been completed. This is less than the initial plan predominantly due to encountering the harder sandstone at shallower depths and more broadly than had been anticipated. The drilling not completed in this program is expected to be completed as part of the calendar year 2022 diamond drilling program planned to commence early in the 2022. The geological features observed from the initial phase of air-core drilling in the Eclipse area of the company's Black Range Project are highly encouraging. Drill traverses were planned to test various IP and Resistivity geophysical anomalies and gather bedrock geology data not possible to obtain at the ground surface due to locally transported soils and the younger Grampians sandstones which cover bedrock in some places. A new prospect, the Nebula Prospect, has been defined over an IP anomaly approximately 800m in length situated some 750m East of the Eclipse Prospect. The Nebula Prospect is hosted in a sequence of volcanic and sedimentary rocks indicating deposition in a sea floor environment at a time when the source volcanic system was experiencing an important transition from intermediate to felsic volcanic composition and a period when volcanism stopped and marine sediments were deposited, evidenced by a narrow horizon of black shale. Due to limited nature of shallow air-core drilling data it is not known exactly how these features fit together and their timing relative to each other, but there does appear such changes occurring over a distance of 100-200m across the prospect. In a VHMS system pauses in volcanic activity can be important periods for the accumulation of metal sulphide deposits and mark prospective horizons which need to be tracked in ongoing exploration. As the company has encountered what appears to be such a horizon and it is also the locus of intense hydrothermal alteration, potentially related to activity of hot fluids transporting metals up through the volcanic pile to the seafloor, this prospect is of great interest in its search for VHMS base metal deposits in the area. Any low-level base or precious metal geochemistry around this zone of alteration will further heighten the prospectivity of the Nebula Prospect, so assay results expected early next year are eagerly awaited. Of the planned 4,000m air-core drilling, only 1,800m was completed as Grampians Sandstone cover in the western margin of the geophysical survey area proved to be too thick and hard for penetration with air-core drilling. These areas are planned to be investigated with diamond drilling early 2022. Elsewhere on the project the air-core technique has proven to be very successful and cost effective for first-pass bedrock testing. As part of its aggressive exploration program, the Company is aiming to commence diamond drilling of deep bedrock targets in first quarter of calendar year 2022. Final geophysical data modelling and geochemical analyses from the current round of shallow air-core drilling are required to prioritise targets for the deeper diamond drilling. Air-core drilling is planned to then continue to further target areas across the broader tenement following further geophysical programs. Announcement • Nov 24
Resource Base Limited Begins Drilling at Black Range VHMS Project Resource Base Limited announced that it has begun its initial air-core drilling program at its Black Range Project located in the well-known and highly prospective Stavely Volcanic corridor in North-West Victoria, which is prospective for copper, gold and zinc. Air-Core Drilling Program: The air-core drilling program is aimed at confirming bedrock geology hidden below shallow transported cover and Grampians Sandstone units. It will also test for the presence of slight geochemical anomalies over geophysical targets. Indications of geochemical signatures interpreted to be associated with VHMS or Porphyry mineralisation will increase ranking of the geophysical target for deep bedrock diamond drilling early next year. A 4,000m air-core drilling program has been designed to test a series of geophysical targets generated by recent IP/Resistivity and Gravity geophysical surveys. The Company has been fortunate to be able to access a drilling rig which has become available for several weeks through November and December 2021. Initial drilling will target geophysical anomalies on private farmland and established roads and tracks on Crown Land while access permitting is progressed for high priority targets located on Crown Land beyond established roads and tracks. Terrain is mostly open woodland, and an ecology survey has recently been undertaken to support access permitting. Exploration Program: As part of its aggressive exploration program, the Company is aiming to commence diamond drilling of deep bedrock targets in first quarter of 2022. Final geophysical data modelling and geochemical analyses from the current round of shallow air-core drilling are required to prioritise targets for the deeper diamond drilling. Air-core drilling is planned to then continue to further target areas across the broader tenement following further geophysical programs. Reported Earnings • Oct 06
Full year 2021 earnings released: AU$0.20 loss per share (vs AU$0.091 loss in FY 2020) Full year 2021 results: Net loss: AU$1.20m (loss widened 285% from FY 2020). Announcement • Sep 27
Resource Base Limited (ASX:RBX) agreed to acquire Mitre Hill Pty Ltd from Blackbird Capital Pty Ltd, Harbour View Capital Pty Ltd and Brent Palmer. Resource Base Limited (ASX:RBX) agreed to acquire Mitre Hill Pty Ltd from Blackbird Capital Pty Ltd, Harbour View Capital Pty Ltd and Brent Palmer on September 27, 2021. Resource Base Limited will issue 4.7 million shares and 4 million performance rights. Resource Base Limited is required to raise a minimum of AUD 1.2 million to fund costs associated with the Proposed Transaction, proposed exploration program on the ELs (once granted) and working capital. The deal is subject to regulatory approval, third party approval, obtaining financing and approval from Resource Base Limited shareholders. Announcement • Jul 14
Resource Base Limited Announces the Commencement of Exploration Program to At Black Range Project Resource Base Limited announced that it now intends to proceed to test the potential of a 4km strike of the defined volcanic graben with an initial air core drilling campaign planned for the second half of 2021 with reverse circulation and diamond drilling proposed for the first quarter of 2022. The company is targeting an initial inferred JORC 2012 resource from existing geological data by the end of the calendar year.