Revolver Resources new funding arrangements

Revolver Resources Holdings Limited (ASX:RRR) has announced the execution of new working capital funding arrangements, including short-term loan facilities and an At-The-Market (ATM) equity arrangement. The company has secured a convertible note facility with Obsidian Global, short-term loan facilities totaling A$550,000, and an A$3 million ATM equity facility agreement with Alpha Investment Partners Pty Ltd. These arrangements aim to provide immediate working capital funding as the company progresses its broader project finance initiatives for the Dianne Copper Mine restart.

Revolver Managing Director's comments on funding arrangements

We have entered into these dual finance arrangements to deliver requisite working capital as we progress our broader project finance initiatives for the Dianne Copper Mine restart. The arrangements have been structured in a fashion designed to minimize shareholder dilution in the targeted event of successful timely progression of Dianne to development financing and production recommencement. We continue to advance commercial discussions with respect to predominantly asset/JV level funding of the Dianne restart - with targeted minimal or no direct dilution of Revolver shareholders. The Dianne Copper Mine restart represents a relatively low development risk, capital-lite production opportunity for Revolver. We are resolutely focused on its successful delivery over the next 12-18 months.

Summary of new funding arrangements and outlook

Revolver Resources Holdings Limited (ASX:RRR) has successfully secured new working capital funding arrangements, including short-term loan facilities and an At-The-Market (ATM) equity facility agreement. These arrangements aim to provide immediate funding support as the company progresses its broader project finance initiatives for the Dianne Copper Mine restart. The company's Managing Director, Pat Williams, emphasized the focus on minimizing shareholder dilution and the relatively low development risk associated with the Dianne Copper Mine restart. With targeted positive Final Investment Decision (FID) in H2 2024 and first LME-grade copper cathode production during H2 2025, Revolver Resources is resolutely focused on the successful delivery of its strategic initiatives over the next 12-18 months. The company remains committed to advancing commercial discussions for funding the Dianne restart with minimal or no direct dilution of Revolver shareholders, while maintaining full control over the timing of equity issuances and the quantum of issued shares through the ATM facility.