5 stories mentioning ASX:DRXUpdated 3d ago
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Diatreme Resources' (ASX:DRX) board appointed Brian Flannery as its Chair, with immediate effect, according to a Wednesday Australian bourse filing.Outgoing Chair, Wayne Swan, will remain as a nonexecutive director.
Diatreme Resources (ASX:DRX) secured a further 12-month extension of its existing AU$1 million debt facility, with the maturity date extended to May 30, 2027, from May 30, according to a Tuesday Australian bourse filing.The facility remains unsecured and continues to carry an interest rate of 7.5% per annum, payable quarterly in arrears.The facility originated from a convertible note arrangement that was fully drawn by May 2, 2017. The debt component of the arrangement has been subject to various extensions and was reduced by AU$500,000 in 2024, leaving the current principal balance of AU$1 million.Its shares fell 6% in recent trading on Tuesday, reaching their lowest point in over five years.
Diatreme Resources (ASX:DRX) upgraded the mineral resource estimate for its Northern Silica project Si2 deposit in Queensland to 301.5 million tonnes from 272.5 million tonnes, according to a Tuesday filing with the Australian bourse.The update indicates an expansion of the resource base at the deposit, with mineralization extending further towards the southeast, the filing said.The update will also form the geological basis for the pre-feasibility study, which is in its final drafting phase, per the filing.Shares fell 3% in afternoon trade on Tuesday and earlier hit their lowest since November 2020.
Diatreme Resources (ASX:DRX) plans to update the mineral resource estimate for the Si2 deposit and begin the mineral resource estimate work for the Casuarina deposit, both part of the Northern silica project in Queensland, during the June quarter, according to a Monday Australian bourse filing.It also plans to complete the prefeasibility study and maiden ore reserves for the project.It is also in negotiations for a part user agreement with Ports North for elements of Cape Flattery Port.Its shares rose 3% in recent trading on Monday.
Diatreme Resources (ASX:DRX) unit Metallica Minerals agreed to sell the Cape Flattery Silica project in Queensland to Cape Silica Holdings, a joint venture between Diatreme and Sibelco Silica, in exchange for additional shares in the JV, according to a Monday filing with the Australian bourse.The deal values the project at about AU$26 million, and allows Diatreme to rationalize its project ownership and boost funding and synergies for its flagship Northern Silica project, per the filing.Sibelco Silica, which holds 26.8% of the JV, will contribute up to about AU$9.5 million in exchange for shares in Cape Silica in a manner that potentially allows Sibelco to retain its current interest. On completion, Sibelco will subscribe for about AU$5.1 million worth of shares in the JV and will receive an option for an additional AU$4.4 million of shares, exercisable before July 7.Using those funds, the JV will reimburse Diatreme around AU$2.1 million for costs associated with the takeover of Metallica, which was completed in September 2024, according to the filing.The deal is subject to Diatreme shareholder approval.Shares of Diatreme gained 6% in recent Monday trading.
