Revolver Resources Holdings (ASX:RRR) has executed a Memorandum of Understanding (MoU) with the China Copper Industry Investment Alliance (CCIIA) with respect to offtake and funding arrangements for targeted near-term cathode production from the Dianne Copper Mine.
The MoU between Revolver and CCIIA is intended to discuss and examine the technical and commercial feasibility of delivery of copper cathode and to work towards establishing final sale agreements of copper cathode.
“Revolver is pleased to form this relationship with CCIIA as a leading industry body securing offtake and to source additional copper cathode product sales,” Revolver Managing Director, Pat Williams, said.
“Revolver is in a the highly unique and attractive position of having a high-grade copper deposit at-surface within the historic Dianne Copper Mine. The opportunity presented by targeted recommencement of production at Dianne next year is a relatively low development risk, and capital-lite.
“Generating significant revenues from the Dianne Mine also delivers attractive, shareholder-friendly access to funding for ongoing exploration of our highly prospective exploration tenure at the broader Dianne and Osprey Projects.
“In addition, the funding arrangements in discussion with the CCIIA have the potential to deliver excellent Revolver shareholder outcomes and minimise the dilutive effects of more conventional equity financing.
“Revolver is firmly committed to delivering outstanding shareholder returns at the same time as attracting the support of CCIIA to grow a copper production-focused business capable of supplying critical materials for the energy transition taking place across the globe.”
About CCIIA
The China Copper Industry Investment Alliance (CCIIA) comprises a group of 11 leading industry, banking, university and aerospace sectors in the South-East Asian region.
As a clear sign of the continued and growing demand for copper metal, the members of the CCIIA formed the alliance to work collaboratively to directly source copper, a critical commodity for the growth and progress of each of their businesses. The CCIIA are presently active in large-scale international construction projects associated with the Belt and Road initiative across various African countries.
Revolver and the CCIIA have formed a four-person Cathode Supply Team to work towards targeted binding terms for offtake supply from the Dianne Copper Mine along with associated project development financing.
Dianne Copper Mine Production Recommencement
Revolver previously completed initial process engineering work with respect to a proposed low capital cost, heap leach / SX-EW development of the Dianne Deposit Mineral Resource Estimate.
Progress has continued on the critical path pre-construction activities needed to ensure that mining activities can commence in H1 2025. The current work programmes are designed to advance this work to a targeted positive Final Investment Decision (FID) on the Dianne Copper Mine Project later this year.
Revolver is pleased to be receiving significant pre-construction funding support through the A$1.3 million grant received from the Queensland Government’s Critical Minerals and Battery Technology.
