Revolver clears final hurdle for Qld Government grant

Revolver Resources has achieved the final milestone under its $1.3 million grant agreement for its Dianne copper mine project in Queensland.

The grant – awarded in February 2024 – came from the Queensland Government’s Critical Minerals and Battery Technology Fund (QCMBTF), which aims to fast-track key design and technical work on Dianne, ensuring the project is in an advanced state of readiness for development.

With the completion of the site engineering design, Revolver has now fulfilled all requirements of the QCMBTF grant and has received all eligible funding.

“We are very pleased to have satisfied the final technical milestone requirement under the QCMBTF grant,” Revolver managing director Pat Williams said.

“This non-dilutive financing has been crucial in unlocking the final feasibility pathway towards targeted recommencement of mining operations at Dianne.

“I would like to express my gratitude to the Queensland Government and all key parties at QCMBTF.”

Dianne is now equipped with detailed SX/EW (solvent extraction/electrowinning) process engineering and site planning, which significantly de-risked the project’s process flowsheet.

Funding solutions, including debt and equity arrangements, are also well progressed ahead of a targeted final investment decision in the coming months.

Dianne is on track for targeted first copper cathode production during the first half of 2026, with the company having engaged the Traditional Owners and the broader workforce in planning participation.

“Revolver is fortunate to be in a very unique position with a high-grade copper ore body at-surface at the Dianne mine,” Revolver managing director Pat Williams said in April 2024.

“We have no existing debt and we have a truly incredible pathway to generating production revenues, to fund the company’s growth and accelerate the scale of our exploration activities across our highly prospective tenure at the broader Dianne and Osprey projects.”