Yandal Resources Raises $18M, Completes Gordons Sale for $2.81M
Yandal Resources has finalised the sale of its Gordons Gold Project tenement, receiving $2.81 million in combined cash and shares, and raised additional funds to strengthen its balance sheet to approximately $18 million. This financial boost positions the company to accelerate exploration activities across its Western Australian gold portfolio in 2026.
- Gordons Gold Project tenement sale completed for $2.81 million
- Raised $1.9 million from exercise of unlisted options
- Completed $13.5 million placement in October
- Cash balance increased to approximately $18 million
- Mineral resources now total 10.8 million tonnes at 1.3 g/t gold for 450,000 ounces
Strategic Asset Sale Bolsters Financial Position
Yandal Resources Limited (ASX, YRL) has successfully completed the sale of its Gordons Gold Project tenement to Horizon Minerals Limited, receiving a total consideration of $2.81 million. This includes $1.2 million in cash and $1.61 million in Horizon shares, marking a significant milestone in the company’s portfolio management strategy.
The transaction, initially announced in August 2025, was managed with advisory support from KPMG Corporate Finance, ensuring a smooth divestment process. The receipt of both cash and equity in Horizon Minerals provides Yandal with immediate liquidity and potential upside exposure to the Gordons project’s future development under new ownership.
Capital Raising Strengthens Balance Sheet
In addition to the Gordons sale proceeds, Yandal Resources has raised approximately $1.9 million through the exercise of unlisted options priced at $0.11, which were due to expire mid-November. This capital injection follows a substantial $13.5 million placement completed in October, collectively boosting the company’s cash reserves to an estimated $18 million as of the end of September 2025, adjusted for these inflows.
This enhanced financial position provides Yandal with the balance sheet strength necessary to aggressively pursue exploration activities across its portfolio, particularly targeting recent discoveries such as the Arrakis Prospect, the New England Granite target, and the Flushing Meadows deposit within the prolific Yandal Greenstone Belt of Western Australia.
Robust Mineral Resource Base Supports Growth
Following the divestment of the Gordons project, Yandal’s combined Mineral Resources now stand at 10.8 million tonnes grading 1.3 grams per tonne gold, equating to approximately 450,000 ounces of gold. This resource base underpins the company’s exploration ambitions and provides a solid foundation for future growth and value creation.
Managing Director Chris Oorschot highlighted the strategic benefits of the recent transactions, emphasizing that the improved funding position enables the company to accelerate exploration in under-explored areas of the Yandal Greenstone Belt, which is renowned for its rich gold endowment.
Looking Ahead
With a strengthened balance sheet and a focused exploration agenda, Yandal Resources is well positioned to advance its projects through 2026. The company’s ability to convert exploration success into resource growth will be critical in sustaining investor confidence and delivering long-term value.
Bottom Line?
Yandal’s cash boost and asset reshaping set the stage for a pivotal exploration year ahead.
Questions in the middle?
- How will Yandal prioritise its exploration budget across multiple targets in 2026?
- What impact will Horizon Minerals’ development of the Gordons project have on Yandal’s equity stake?
- Can recent capital raises translate into meaningful resource upgrades or new discoveries?