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XSTATE RESOURCES LIMITED — Capital/Financing Update 2025
Sep 2, 2025
66107_rns_2025-09-02_05edf08c-dcc1-45de-81ee-feacaa4f8a08.pdf
Capital/Financing Update
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ABN 96 009 217 154
Announcement to ASX
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3 September 2025
Electronic lodgement
RE-COMPLIANCE UPDATE
Xstate Resources Limited ( ASX:XST ) ( Xstate or the Company ) is pleased to advise it has successfully completed its Re-compliance Prospectus offer, raising ~$2.14 million before costs.
The Company now intends to satisfy the remaining ASX imposed conditions to the Company’s re-instatement to trading on the ASX.
An updated indicative timetable for re-instatement is as follows:
| Event | Date |
|---|---|
| Completion of acquisition of 51% of Diona Project | Thursday 4 September 2025 |
| Satisfaction of ASX conditions to re-listing | Tuesday 9 September 2025 |
| Re-instatement to trading (at ASX’s discretion) | Thursday 11 September 2025 |
Diona Project
The Company confirms that all approvals are in place to allow the Company to commence drilling. Following completion of the acquisition of a 51% interest in the Diona Project, the Company intends to finalise and sign the drilling contract within the coming week and finalise a date for mobilising the rig, expected to be the week commencing 22[nd] September 2025.
This announcement has been authorised for release by the Board of Directors.
Andrew Bald
Managing Director
About Xstate Resources Limited:
Xstate Resources (ASX Code: XST) is an ASX listed company focused on the oil and gas sector focusing on its Diona project located in Queensland, Australia. The Company additionally holds exploration assets in the Sacramento Basin, California.