Dateline’s Colosseum Project Boasts 1.1Moz Gold and 61% IRR at $2,900 Gold

Steady Progress at Colosseum Amid Market Tailwinds

Dateline Resources Limited (ASX – DTR) has delivered a confident update on its flagship Colosseum Gold-Rare Earth Project in California, underscoring the project's robust fundamentals and the impact of a soaring gold price environment. With a JORC-compliant resource of 27.1 million tonnes grading 1.26 grams per tonne gold, equating to approximately 1.1 million ounces, the project remains a compelling asset in the US mining landscape.

Over two-thirds of this resource is classified as measured and indicated, providing a solid foundation for advancing towards production. The company’s ongoing Bankable Feasibility Study (BFS), overseen by COO Simon Slearewich, remains on schedule for completion in the first quarter of 2026, a critical milestone before construction can commence.

Gold Price Surge Amplifies Project Value

Since the last scoping study update in May 2025, which assumed a gold price of US$2,900 per ounce, the gold price has climbed sharply to over US$4,100 per ounce. This dramatic increase materially enhances the project’s forecast operating margins and overall economics. Previously, the project demonstrated a pre-tax net present value (NPV) of approximately US$550 million and an internal rate of return (IRR) of 61% based on the lower gold price assumption.

Dateline is also exploring the potential to increase production by lowering the cut-off grade, which could extend mine life and boost total recoverable ounces. This flexibility could further improve the project's financial metrics once the BFS is complete.

Expanding US Investor Base and Governance Realignment

Dateline’s persistent engagement with US government authorities has paid dividends, with formal confirmation of mining rights and increased visibility following a high-profile social media mention by the US President. This has catalyzed a surge in US investor interest, with nearly 40% of shares now held by US-based investors, up from around 4% earlier in the year.

In response, Dateline is pursuing US-compliant reporting standards with legal advisors K&L Gates and is actively recruiting US-experienced directors to strengthen its governance and operational expertise in the American mining sector. This strategic alignment reflects the company’s commitment to its core US assets and investor base.

Rare Earths and Strontium – Diversifying Future Prospects

Beyond gold, the Colosseum Project sits near the Mountain Pass Rare Earth mine, with geological similarities that suggest promising rare earth element potential. While still in early exploration stages, this could add significant value if confirmed. Additionally, Dateline holds the Argos Strontium Project, reportedly the largest strontium deposit in the US, which remains an untapped asset with potential for future development.

As the company prepares to transition from exploration to production, these complementary opportunities could broaden its resource base and revenue streams.

Looking Ahead

With approvals secured and construction poised to begin shortly after BFS completion, Dateline Resources is positioning itself for a transformative phase. The company’s leadership credits the strong project fundamentals, strategic US engagement, and rising gold prices for its momentum. Investors will be watching closely as the BFS results emerge and financing strategies unfold, setting the stage for Dateline’s evolution into a significant gold producer in North America.