How Revolver’s Engineering and Funding Push Could Restart Dianne Copper Mine in 2025
Revolver Resources has completed critical engineering designs and secured over A$1 million in government grants and royalties, setting the stage for a targeted restart of copper production at its Dianne Copper Mine in late 2025.
- Completion of site engineering design unlocks final government grant milestone
- Diamond drilling program underway to support mine restart and resource expansion
- Secured A$1 million via gross revenue royalties as non-dilutive funding
- Targeting positive Final Investment Decision (FID) and production restart in H2 2025
- Ongoing exploration at Osprey Project enhanced by AI-driven targeting
Engineering Milestones and Government Support
Revolver Resources Holdings Limited (ASX, RRR) has marked a significant step forward in its Dianne Copper Mine Recommencement Project with the completion of site engineering design. This achievement represents the final major milestone required to secure the full +A$1 million grant from the Queensland Critical Minerals and Battery Technology Fund (QCMBTF), which the company has now received. The design incorporates innovative processes aimed at minimising environmental footprint while supporting a capital-lite copper mining operation.
Drilling Program and Operational Planning
In June 2025, Revolver commenced a diamond drilling program at the Dianne Deposit. This program is multifaceted, focusing on grade control to optimise material loading on leach pads, finalising geotechnical designs for safe pit slopes, characterising waste rock, and exploring potential extensions of the high-grade deposit. The drilling results will feed into updated geological models, underpinning operational planning ahead of the targeted restart of mining and processing operations in the second half of 2025.
Funding Strategy and Commercial Discussions
Revolver has strengthened its financial position through the establishment of two additional 1% gross revenue royalties (GRRs) over future mineral production at Dianne, adding to a previously secured GRR. These royalties provide non-dilutive, project-level funding that benefits shareholders by avoiding equity dilution. Alongside this, the company has raised approximately A$196,000 through its At-The-Market (ATM) equity facility. Commercial negotiations for development funding at the asset or joint venture level are well advanced, with a positive Final Investment Decision (FID) anticipated in the coming months.
Exploration Advances at Osprey Project
Beyond Dianne, Revolver continues to pursue exploration at its Osprey Copper Project in northwest Queensland. The company has applied structural and stratigraphic interpretations combined with geophysical data to identify 14 high-priority targets for Mount Isa-style copper mineralisation. Artificial Intelligence (AI) is being leveraged to refine targeting through an updated Mineral Prospectivity Index, with ground-based geophysical surveys planned to further delineate drill targets. Discussions to secure new funding to accelerate exploration activities at Osprey are ongoing.
Financial Position and Outlook
As of 30 June 2025, Revolver held approximately A$0.6 million in cash, supplemented by an unused A$3 million convertible loan facility. The company’s cash outflows during the quarter primarily related to exploration, evaluation, and corporate costs. With key technical and funding milestones progressing, Revolver is positioned to advance towards production recommencement and further exploration success.
Bottom Line?
With engineering, funding, and drilling advancing in tandem, Revolver is poised for a pivotal Final Investment Decision that could reshape its copper production trajectory.
Questions in the middle?
- Will the upcoming drilling results at Dianne confirm resource expansion and support the planned restart?
- What are the definitive terms and timeline for the development funding currently under negotiation?
- How will AI-driven exploration at Osprey translate into tangible drill targets and potential discoveries?