Revolver Resources has significantly upgraded the Dianne Copper Mine Project’s resource base and outlined robust economics for a mining restart, targeting first copper cathode production by late 2026.
- 140% increase in Indicated Mineral Resource Estimate at Dianne
- 26% rise in copper grade to 1.38% Cu
- Recommencement Study forecasts $125 million pre-tax cashflow
- Construction-ready status with environmental approvals secured
- Ongoing AI-driven exploration at Osprey Copper Project
Resource Upgrade Sets Stage for Restart
Revolver Resources Holdings Limited (ASX – RRR) has delivered a substantial upgrade to its Dianne Copper Mine Project in northern Queensland, reporting a 140% increase in the Indicated Mineral Resource Estimate (MRE) and a 26% improvement in copper grade. The updated MRE now stands at 1.31 million tonnes at 1.38% copper, incorporating zinc, silver, and gold credits, and positioning the project for a near-term mining restart.
This upgrade follows a comprehensive drilling program completed between 2023 and 2025, which focused on converting previously inferred resources into the higher-confidence Indicated category. The enhanced geological understanding and refined modelling have not only increased resource confidence but also revealed promising zones of high-grade primary copper mineralisation that remain open for further expansion.
Robust Economics Underpin Recommencement Study
Post-quarter, Revolver released a Recommencement Study that integrates the updated resource data with detailed technical and engineering assessments. The study outlines a low capital expenditure heap leach and solvent extraction-electrowinning (SX-EW) operation processing approximately 1.65 million tonnes over four years. Key financial metrics include a pre-tax free cashflow exceeding $125 million, a net present value of $69 million at a 10% discount rate, and an internal rate of return of 35%, with a payback period of around 12 months.
The study’s conservative assumptions and proven processing technologies provide a compelling business case for the project’s restart, targeting first copper cathode production by late 2026. Critical pre-construction earthworks are complete, and environmental approvals have been secured, advancing the project to a construction-ready status.
Funding and Strategic Outlook
Revolver is actively engaging with strategic debt and equity partners to finalise project financing, aiming for a Final Investment Decision (FID) in early 2026. The company holds approximately A$490,000 in cash at quarter-end, supplemented by an unused A$3 million convertible loan facility, providing a runway for imminent development activities.
Beyond Dianne, Revolver continues to pursue exploration at its Osprey Copper Project in northwest Queensland. Leveraging artificial intelligence to refine targeting, the company has identified 14 high-priority zones for potential Tier-1 copper deposits, with geophysical surveys planned to define drill targets.
Looking Ahead
With a strengthened resource base, robust project economics, and a clear path to production, Revolver Resources is poised to transition from explorer to producer. The coming months will be critical as the company secures funding and advances construction, with the copper market’s dynamics adding further significance to the Dianne project’s timely restart.
Bottom Line?
Revolver’s Dianne project is on the cusp of transformation, but funding and execution will be key to unlocking its full potential.
Questions in the middle?
- Will Revolver secure the necessary funding to meet its early 2026 Final Investment Decision target?
- How will fluctuating copper prices impact the project’s economics and production plans?
- What exploration results might emerge from the AI-driven targeting at the Osprey Copper Project?