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RESOLUTION MINERALS LTD Interim / Quarterly Report 2026
65717_rns_2026-04-29_3b9d897a-1f06-4597-bd43-3ed418783fbe.pdf
Interim / Quarterly Report
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
QUARTERLY ACTIVITIES REPORT
FOR THE PERIOD ENDED 31 MARCH 2026
HIGHLIGHTS
- High-grade antimony, silver and gold results confirm a large polymetallic system at Antimony Ridge, with assays of up to 48.7% Sb and 890 g/t Ag.
- Golden Gate drilling confirms a large-scale gold system, with all holes intersecting gold mineralisation and several ending in mineralisation, indicating the system remains open at depth.
- Gold and significant tungsten mineralisation intersects in drilling at Golden Gate, highlighting a growing multi-commodity system.
- New gold discovery at Golden Gate South, with mineralisation defined over approximately 1.5km strike linking Golden Gate North and South.
- Acquisition of Johnson Creek Tungsten and Antimony Mill completed, securing processing infrastructure and stockpiles to support a pathway to U.S. domestic production.
- Stockpile sampling at Johnson Creek returned 1.85% WO₃, confirms potential for a near-term tungsten opportunity.
- Phase 2 drilling program up to 13,700m (45,000 feet) at Golden Gate commencing May 2026, targeting extensions and progression toward maiden Mineral Resource Estimate (MRE).
- NASDAQ registration lodged and ADR facility established, with NASDAQ listing expected imminently.
- Post-Quarter, Antimony Ridge advances with FAST-41 permitting support, while 3D modelling confirmed large-scale mineralisation, and successful production of high-purity antimony trioxide.¹²³
- A$20m placement completed post Reporting Period, backed by strong institutional demand to accelerate drilling, metallurgy and permitting at Horse Heaven.⁴
Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) (“Resolution” or the “Company”) is pleased to provide an overview of activities to accompany the Appendix 5B for the quarter ended 31 March 2026 (“Quarter” or the “Reporting Period”).
Craig Lindsay, Resolution’s CEO - US Operations, commented:
“This was a strong Quarter for Resolution, with results continuing to demonstrate the scale of the Golden Gate system and broader opportunity emerging across Horse Heaven.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML RESOLUTION MINERALS LTD
ASX: RML | OTCQB: RLMLF ASX Announcement 30 April 2026
The combination of high-grade antimony at Antimony Ridge, a growing gold system at Golden Gate, and the addition of processing infrastructure at Johnson Creek positions the Company to advance a compelling U.S. based critical minerals platform.
With a major drilling program about to commence and further technical work underway, we are focused on building on this momentum through 2026."
Horse Heaven Project, Idaho, USA
The Company's primary focus during the Reporting Period was advancing its 100% owned Horse Heaven Gold-Antimony-Tungsten-Silver Project in Idaho, USA. Activities during the Quarter were directed across exploration, metallurgical test work, and project development planning, with results supporting the potential for a large-scale, multi-commodity system.
Figure 1: Horse Heaven Project location map, highlighting the location of the two current major antimony-gold-silver tungsten targets, the Golden Gate Target (where the Phase 1 Core Drilling Program was conducted) and the Antimony Ridge Target. Also highlighted is the fully-permitted Stibnite Gold Project, which is only 12km due east of Horse Heaven. Note: Coordinates are UTM metres north and east metric system, not latitude/longitude.
Antimony Ridge
Resolution reported high-grade results from rock sampling at the historical Antimony Ridge Mine with five samples of massive stibnite returned grades ranging from 31.7% to 48.7% Sb, along with elevated silver and minor gold values.
These results confirm the presence of a high-grade laterally extensive polymetallic system, building on earlier sampling programs and highlighting the broader scale potential across the target area.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
Figure 2: Antimony Ridge – High grade antimony veins and mineralisation with assays, modelled as 30 discrete mineralised vein swarms, fault breccias and stockworks, within past open pits and trenches. Veins and vein swarms are surrounded by a lower grade antimony halo of veinlets and stockwork shown in a coloured antimony-in-soil geochemical anomaly map with averaged assays. Veins, assays and soil geochemistry are draped over a 3-D shaded image. Results extend over a large area 1,000m x 700m and 250m vertically.
The Company also collected approximately 100kg of representative material for metallurgical test work, with samples submitted to external laboratories for initial characterisation and processing assessment.
Subsequent to the Reporting Period, Resolution reported several developments at Antimony Ridge. The Project was included in the U.S. Federal FAST-41 Permitting program, which is expected to support more efficient permitting and assist in advancing planned bulk sampling activities.¹
Additional work during the Quarter confirms the scale of the system through 3D modelling, which identified extensive high-grade vein swarms across a broad area.²
Metallurgical test work continues to progress, with the successful production of high-purity antimony trioxide product and continues advancement of both pyrometallurgical and hydrometallurgical processing pathways, forming part of the Company’s broader approach to downstream processing.³
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML RESOLUTION MINERALS LTD
ASX: RML | OTCQB: RLMLF ASX Announcement 30 April 2026
Golden Gate Gold and Tungsten System
During the Quarter, Resolution received final assay results from its 2025 drilling program at Golden Gate.
Results from both diamond core and reverse circulation (RC) drilling continued to demonstrate broad zones of gold mineralisation at Golden Gate North and South. All reported holes intersected gold mineralisation with several holes ending in mineralisation, indicating the system remains open at depth.
Mineralisation is interpreted to be near-surface and laterally continuous, supporting the potential for expansion along strike and at depth.
Tungsten mineralisation was also identified within the drilling program, including a notable intercept in hole HH-GG25-012R of 8m at 0.14% W from 79.3m within a boarder interval of 21m at 0.80g/t Au. This provided further evidence that Golden Gate hosts a multi-commodity system with both gold and tungsten present within the broader mineralised envelope.
In addition, the Company reported a new gold discovery at Golden Gate South where drilling intersected gold mineralisation in a previously untested zone. The results demonstrate continuity of mineralisation between the northern and southern areas and support the interpretation of a larger, laterally extensive mineralised system.
Overall, the results reinforced the interpretation that Golden Gate North and South form part of a continuous mineralised system extending over 1.5km (from ASX announcement 9 February 2026) along strike, with mineralisation remaining open in multiple directions and highlighting the potential for a larger-scale system.
Figure 3: Map showing location of planned Phase 2 Drill Holes at Golden Gate North.
Figure 4: Map showing location of planned Phase 2 Drill Holes at Golden Gate South.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML RESOLUTION MINERALS LTD
ASX: RML | OTCQB: RLMLF ASX Announcement 30 April 2026
Phase 2 Golden Gate Drilling Program
During the Reporting Period, the Company announced a Phase 2 drilling program at Golden Gate, comprising up to 13,700 metres (45,000 feet) of diamond drilling across up to 45 holes.
The program is designed to test extensions to mineralisation along strike and at depth, as well as areas between the northern and southern zones, and to support progression toward a maiden MRE, targeted for Q1 2027 (subject to successful outcomes).
Drilling is scheduled to commence in May 2026, subject to weather conditions.
Figure 5: Map showing combined Golden Gate North and South Phase 2 drill targets.
Johnson Creek Mill and Tungsten Stockpiles
A key development during the Quarter was the completion of the acquisition of the Johnson Creek Tungsten and Antimony Mill and associated infrastructure, located adjacent to the Horse Heaven Project.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
The acquisition included processing facilities, supporting infrastructure and historical tungsten stockpiles estimated at approximately 2,000 tonnes.
Following completion, the Company undertook preliminary mapping and sampling of the stockpiles. A composite mini-bulk sample returned a grade of 1.85% WO₃ and 0.11 g/t Au, with mineralogical analysis confirming scheelite as the primary tungsten-bearing mineral.
Further sampling and test work are planned to assess the stockpile material in accordance with the JORC Code. The estimate is both a Historical Estimate and a Foreign Estimate and is not reported in accordance with the JORC (2012) Code. A Competent Person has not done sufficient work to classify the Historical Estimate and the Foreign Estimate as a mineral resource or mineral reserve in accordance with the JORC (2012) Code. It is uncertain that following evaluation and/or further exploration work (as described above) that the Historical Estimate and the Foreign Estimate will be able to be reported as a mineral resource or mineral reserve in accordance with the JORC (2012) Code.
Figure 6: LEFT: A photo of one of the historical stockpiles at Johnson Creek Tungsten & Antimony Mill that was mapped and sampled by RML field personnel. The stockpile has remained untouched since the 1980s following the cessation of mining activities at Golden Gate that decade. As reported in previous ASX announcements, the stockpile contains ore-material believed mined from the Tungsten Mine at Golden Gate. RIGHT: Blue-light (ultraviolet lamp) photo of part of the stockpile pictured left. Under ultraviolet light the WO₃ ore mineral scheelite reflects vivid white/light blue. By virtue of this reflectance, this photo shows tungsten mineralisation. This mineralisation is in the form of vein and disseminated scheelite with an estimated abundance of between 1% and 30% of the individual rocks in the photo. The tungsten assay result of the mini-bulk sample (described in text), includes a portion of the pictured material and other material from five other locations, is the subject of this announcement. Also note that the scheelite mineral contains 80.52% WO₃ molecular weight.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
Corporate Activities and Financial Position
During the Quarter, Resolution progressed several corporate initiatives.
The Company lodged a registration statement with the U.S. Securities and Exchange Commission as part of a proposed NASDAQ listing and established a Level 1 ADR facility to facilitate U.S. investor access. NASDAQ listing is expected to occur imminently.
In addition, the Company completed the sale of its 64North Project in Alaska for US$1.5 million in cash, enabling continued focus on advancing the Horse Heaven Project.
Subsequent to the Quarter, Resolution successfully undertook an institutional-led placement to raise $20 million (before costs), with strong support from institutional and sophisticated investors, including cornerstone investments from Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund. Funds raised will be used to accelerate exploration drilling, metallurgical test work and permitting activities across the Horse Heaven Project as well as for working capital.⁴
As at 31 March 2026, Resolution Minerals held A$8.17 million in cash and cash equivalents, providing funding support for planned exploration and development programs.
Outlook
Resolution enters the next Quarter with strong momentum across the Horse Heaven Project, with recent exploration and technical work continuing to support the scale and multi-commodity potential of the system.
With strong institutional backing, accelerating permitting pathways, a major drilling program set to commence and further metallurgical and development work underway, the Company is well-positioned to advance Golden Gate toward a maiden resource and continue progressing Antimony Ridge as a strategic U.S. critical mineral asset.
Next Steps
For the next Quarter, the Company’s immediate focus will be on:
- Commence the Phase 2 drilling program at Golden Gate;
- Advance Antimony Ridge activities, including permitting, bulk sampling and ongoing metallurgical studies;
- Continue assessment of the Johnson Creek stockpiles;
- Progress broader project development strategy; and
- NASDAQ Listing and U.S. capital markets engagement.
⁴ ASX Announcement 23 April 2026: $20M Placement to Accelerate US Critical Minerals Strategy
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
Aharon Zaetz, Resolution’s Executive Director, commented:
“The Company is well funded. It is developing critical metal tungsten and antimony targets at Antimony Ridge and Golden Gate. It has tungsten stockpiles and the milling property. Initial metallurgy is tremendously positive. It will launch a large drill campaign at its gold discovery at Golden Gate and historical Golden Gate tungsten mine. With an imminent US-listing, FAST-41 permitting in place, it would be difficult to find a comparable company in the resource sector globally. I am immensely proud of the Resolution team and excited for our shareholders.”
Appendix 5B Expenditure
RML’s Appendix 5B includes expenditure amounts of $466k in items 6.1 and 6.2 related to payment of director fees to executive and non-executive directors.
During the March Quarter, the Company expended $2,597k on exploration activities. This expenditure primarily represents costs associated with preparation for drilling at Horse Heaven, mill and tungsten stockpile acquisition and labour for technical consultants.
TENEMENT TABLE
| Tenement Number | Tenement Name | Beneficial Interest at the end of the Quarter | Changes during Quarter |
|---|---|---|---|
| Benmara Project – Northern Territory, Australia | |||
| EL32228 | Benmara | 0% | Relinquished |
| EL32883 | Murphy | 0% | Relinquished |
| George Project – South Australia, Australia | |||
| EL6905 | George | 0% | Relinquished |
| Spur South / Drake Project – New South Wales, Australia | |||
| EL9719 | Spur South | 100% | None |
| EL9720 | Spur South | 100% | None |
| EL9730 | Drake East | 100% | None |
| 64North Project – Alaska, USA | |||
| 102 Alaska State Claims | 64North Project claims | 0% | Project sold |
| Horse Heaven Project – Idaho, USA | |||
| 729 US Federal lode mining Claims | Horse Heaven Project claims | 100% | None |
Authorised for release by the Board of Resolution Minerals Ltd.
For further information, please contact:
Aharon Zaetz
Executive Director
Resolution Minerals Ltd
M: +61 424 743 098
[email protected]
Jane Morgan
Investor Relations
Jane Morgan Management
M: +61 405 555 618
[email protected]
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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RML
RESOLUTION
MINERALS LTD
ASX: RML | OTCQB: RLMLF
ASX Announcement
30 April 2026
The Company confirms it is not aware of any new information or data that materially affects the information cross referenced in this announcement and further to “Agreement to Acquire Major US Antimony Project and Placement” on 11 June 2025, “Exceptional Rock Chip and Soil Results from Antimony Ridge” on 15 September 2025, “Exceptional Rock Chip and Soil Results Update” on 24 September 2025, “Significant Gold Discovery at Horse Heaven Project” on 28 October 2025, “RML to Acquire Processing Mill and Tungsten Stockpiles” on 31 October 2025, “Significant Gold Discoveries Continue at Golden Gate” on 3 November 2025, “Golden Gate Discovery Grows with Multiple Gold Intercepts” on 2 December 2025, “Further Ultra High Grade Antimony and Silver Results” on 14 January 2026, “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 19 January 2026 and “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 23 January 2026, “New Gold Discovery at Golden Gate South” on 9 February 2026, “Gold & Significant Tungsten Mineralisation in Drilling” on 17 February 2026, “Exceptional Tungsten Grade Identified in Stockpile Material” on 26 March 2026, “Antimony Ridge Model Shows Extensive Vein Swarms” on 10 April 2026, “Antimony Trioxide Produced from Antimony Ridge” on 14 April 2026 and “Tungsten Concentrates Produced from Golden Gate” 28 April 2026. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The Company is not in possession of new information or data in relation to historical estimate that materially impacts the reliability of the estimate or the Company’s ability to verify the estimate and the supporting information in relation to the historical estimate reported as “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 23 January 2026 continues to apply and has not materially changed. The tungsten stockpile is comprised of 1,814 tons of tungsten with an average grade of 1.5% WO₃ and 227 tons of tungsten having an average grade of 2.03% WO₃.
Resolution Minerals Ltd (ABN: 99 617 789 732)
Address: Level 21, 91 King William Street, Adelaide South Australia 5000
Email: [email protected]
Website: https://resolutionminerals.com/
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Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Name of entity
Resolution Minerals Ltd
ABN
99 617 789 732
Quarter ended ("current quarter")
31 March 2026
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 1. | Cash flows from operating activities | ||
| 1.1 | Receipts from customers | - | - |
| 1.2 | Payments for | ||
| (a) exploration & evaluation | (3) | (3) | |
| (b) development | - | - | |
| (c) production | - | - | |
| (d) staff costs | (706) | (1,631) | |
| (e) administration and corporate costs | (5,538) | (13,253) | |
| 1.3 | Dividends received (see note 3) | - | - |
| 1.4 | Interest received | 88 | 184 |
| 1.5 | Interest and other costs of finance paid | (10) | (98) |
| 1.6 | Income taxes paid | - | - |
| 1.7 | Government grants and tax incentives | - | - |
| 1.8 | Other (provide details if material) | - | - |
| 1.9 | Net cash from / (used in) operating activities | (6,169) | (14,801) |
| 2. | Cash flows from investing activities | ||
| --- | --- | --- | --- |
| 2.1 | Payments to acquire or for: | ||
| (a) entities | - | - | |
| (b) tenements | - | (600) | |
| (c) property, plant and equipment | - | - | |
| (d) exploration & evaluation | (2,594) | (7,763) | |
| (e) investments | (225) | (225) | |
| (f) other non-current assets | - | - |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 2.2 | Proceeds from the disposal of: | ||
| (a) entities | - | - | |
| (b) tenements | 2,241 | 2,241 | |
| (c) property, plant and equipment | - | - | |
| (d) investments | - | - | |
| (e) other non-current assets | - | - | |
| 2.3 | Cash flows from loans to other entities | - | - |
| 2.4 | Dividends received (see note 3) | - | - |
| 2.5 | Other | - | - |
| 2.6 | Net cash from / (used in) investing activities | (578) | (6,347) |
| 3. | Cash flows from financing activities | ||
| --- | --- | --- | --- |
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | - | 27,454 |
| 3.2 | Proceeds from issue of convertible debt securities | - | - |
| 3.3 | Proceeds from exercise of options | 17 | 2,416 |
| 3.4 | Transaction costs related to issues of equity securities or convertible debt securities | (290) | (1,707) |
| 3.5 | Proceeds from borrowings | - | 875 |
| 3.6 | Repayment of borrowings | - | (875) |
| 3.7 | Transaction costs related to loans and borrowings | - | - |
| 3.8 | Dividends paid | - | - |
| 3.9 | Other – Subscriptions received transferred to proceeds from share issues | - | - |
| 3.10 | Net cash from / (used in) financing activities | (273) | 28,163 |
| 4. | Net increase / (decrease) in cash and cash equivalents for the period | ||
| --- | --- | --- | --- |
| 4.1 | Cash and cash equivalents at beginning of period | 15,206 | 1,171 |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (6,169) | (14,801) |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | (578) | (6,347) |
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | (273) | 28,163 |
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
|---|---|---|---|
| 4.5 | Effect of movement in exchange rates on cash held | (9) | (9) |
| 4.6 | Cash and cash equivalents at end of period | 8,177 | 8,177 |
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| --- | --- | --- | --- |
| 5.1 | Bank balances | 8,177 | 15,206 |
| 5.2 | Call deposits | - | - |
| 5.3 | Bank overdrafts | - | - |
| 5.4 | Other - restricted cash (joint venture) | - | - |
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 8,177 | 15,206 |
| 6. | Payments to related parties of the entity and their associates | Current quarter $A'000 | |
| --- | --- | --- | |
| 6.1 | Aggregate amount of payments to related parties and their associates included in item 1 | 466 | |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | - | |
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. |
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
| 7. | Financing facilities
Note: the term “facility” includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | Amount drawn at quarter end $A'000 |
| --- | --- | --- | --- |
| 7.1 | Loan facilities | - | - |
| 7.2 | Credit standby arrangements | - | - |
| 7.3 | Other (please specify) | - | - |
| 7.4 | Total financing facilities | - | - |
| 7.5 | Unused financing facilities available at quarter end | | - |
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. | | |
| | | | |
| 8. | Estimated cash available for future operating activities | $A'000 |
| --- | --- | --- |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (6,169) |
| 8.2 | (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | (2,594) |
| 8.3 | Total relevant outgoings (item 8.1 + item 8.2) | (8,763) |
| 8.4 | Cash and cash equivalents at quarter end (item 4.6) | 8,177 |
| 8.5 | Unused finance facilities available at quarter end (item 7.5) | - |
| 8.6 | Total available funding (item 8.4 + item 8.5) | 8,177 |
| 8.7 | Estimated quarters of funding available (item 8.6 divided by item 8.3) | 0.9 |
| | Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. | |
| 8.8 | If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | |
| | Answer: Yes. The Company intends to pursue a significant drilling program as announced on ASX. During the quarter the Company recorded higher-than-average expenditure. During the quarter significant expenditure was incurred in pursuing U.S. operations to advance and finalise drill programs, permitting, acquisition of the Johnson Creek mill, metallurgy, establishing downstream strategy, project expansion, government engagement, Nasdaq listing set up (including legal fees) and US market engagement programs, hiring of staff, one-off corporate costs in relation to Nasdaq, and other corporate activities especially in relation to the US market entry.
Importantly, the Company maintains a strong balance sheet and sufficient cash reserves to support planned activities, with no change to its near-term funding requirements. Management continues to exercise prudent cost control while prioritising initiatives that enhance asset value and advance the Company toward defined milestones. The higher spend this quarter reflects a conscious decision by management to advance critical programs at an accelerated pace. | |
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Answer: Resolution has successfully completed numerous fundraising activities in the past and has recently announced an institutionally-led two tranche placement to raise $20 million (before costs). The Company expects that it will be able to raise further funds if required.
The Company has approximately 627 million “in-the-money” options on issue. If these were to be exercised, this would result in a cash injection of approximately $12.3 million.
The Company’s cash balance of $8.2 million at the end of the March quarter, as well as the $20 million from the recent placement, plus the potential of the additional $12.3 million that could be received from in the money options being exercised, gives the Company a potential cash balance of up to $40 million.
RML further expects that the company will be admitted to Nasdaq in the short term providing additional opportunities to raise funds.
8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
Answer: Yes. Resolution Minerals expects to be able to continue its operations and to meet its business objectives following fundraising activities as detailed above. The Company remains well-funded, with cash resources sufficient to execute planned activities. Importantly, the increased expenditure does not alter the Company’s funding position or strategy. If funding support is not sufficient to meet planned expenditures, the Company will reduce corporate expenditure and other activities as required. Management continues to closely monitor costs and capital allocation.
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.
Compliance statement
- This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
- This statement gives a true and fair view of the matters disclosed.
Date: 30 April 2026
Authorised by: the Board of the Company
(Name of body or officer authorising release – see note 4)
Notes
- This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
- If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
- Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
- If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the
ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
[name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
- If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.
ASX Listing Rules Appendix 5B (17/07/20)
- See chapter 19 of the ASX Listing Rules for defined terms.