How Yari Minerals Boosted Rolleston South Coal Resource by 26% and Raised $1.5M

Resource Upgrade Highlights Project Potential

Yari Minerals Limited (ASX – YAR) has reported a significant 26% increase in its JORC (2012) Inferred Resource at the Rolleston South Coal Project in Queensland’s Bowen Basin, lifting the total to 190 million tonnes. This upgrade was driven by the integration of new data from three additional coal seam gas wells, obtained through a data sharing agreement, which expanded the geological model and extended the depth range considered for mining.

The Rolleston South project, Yari’s flagship asset, benefits from proximity to established infrastructure including the nearby Glencore-operated Rolleston Mine and the Blackwater Rail System, facilitating potential export pathways. The resource upgrade reinforces the project's scale and quality, with coal seams exhibiting characteristics consistent with export-grade thermal coal and promising semi-soft metallurgical coal potential.

Drilling Campaign to Validate and Upgrade Resources

Following regulatory and landholder approvals, Yari is set to commence its inaugural drilling campaign, managed by Xenith Consulting. The program will include six reverse circulation and diamond drill holes targeting high-priority areas to potentially upgrade part of the inferred resource to an indicated status. This drilling will also aim to confirm the semi-soft metallurgical coal potential through test-work and undertake geotechnical assessments to support future mining studies.

The company is designing a test-work program to validate coal washability and assess the separation of thermal and metallurgical coal products. Geotechnical drilling will evaluate mining scenarios ranging from initial box-cut open-cut operations to longer-term underground development options such as bord-and-pillar or longwall mining.

Capital Raise and Leadership Strengthening

To fund these activities, Yari successfully raised $1.5 million through a share placement at $0.01 per share, attracting strong support from sophisticated and institutional investors. Notably, the Copulos Group contributed a $500,000 cornerstone subscription. The funds will support drilling, metallurgical test-work, geotechnical studies, and working capital requirements.

In parallel, Yari has bolstered its leadership team with the appointment of Albert Thamm as Technical Director, bringing over 35 years of geological experience, and Dale Hanna as Company Secretary, a seasoned corporate advisor with extensive ASX-listed mining company experience. These appointments are aimed at supporting the company’s transition from exploration to resource development.

Financial Position and Outlook

Yari ended the quarter with a cash balance of $2.49 million, up from $1.46 million the previous quarter, and maintains a debt-free balance sheet. Exploration expenditure during the quarter was $0.209 million, reflecting ongoing investment in advancing the Rolleston South project. Meanwhile, the company continues to monitor its lithium projects in Western Australia, although no fieldwork was conducted during the quarter and results from recent geochemical sampling remain pending.

With a strengthened resource base, fresh capital, and an experienced leadership team, Yari Minerals is well positioned to advance its flagship project through critical development milestones in the coming months.