Reward Minerals Reports $178K Exploration Spend, $938K Cash, and New Patents
Reward Minerals has completed the acquisition of the Copper Lance project in Canada and progressed multiple Australian exploration projects while advancing its proprietary potash processing technologies.
- Acquisition and maiden field program at Copper Lance, Newfoundland
- Progress on heritage agreements and data compilation for Kalgoorlie Gold, North Bore Copper, and Warroora Gypsum projects
- Ongoing engagement with solar salt, fertilizer, and desalination sectors for joint ventures
- Advancement and patent progress of Reward’s proprietary potash processing technologies
- Cash position of approximately $938,000 with exploration expenditure of $178,000 in the quarter
Strategic Acquisition and Exploration Momentum
Reward Minerals Limited (ASX, RWD) has marked a significant step forward with the completion of its acquisition of the Copper Lance project in Newfoundland, Canada. This acquisition adds a promising base and precious metals exploration asset to its portfolio. Reward swiftly followed up with a maiden geological field sampling program, collecting 239 soil and 14 rock chip samples, with assay results expected in February 2026. The Copper Lance project sits within the prolific Dunnage Zone volcanics, an area historically known for copper, silver, and gold mineralisation, underscoring its exploration potential.
Meanwhile, Reward has been advancing exploration activities closer to home in Western Australia. The company is progressing heritage protection agreements and compiling exploration data for its Kalgoorlie Gold Projects, the North Bore Copper Project, and the Warroora Gypsum Project. These projects represent a diverse portfolio targeting gold, copper, and gypsum resources, with the Kalgoorlie tenure strategically located near established mining infrastructure and historic deposits.
Potash Processing Technology and Industry Engagement
Reward continues to build momentum around its proprietary potash processing technologies, notably the Reward Process (Syngenite Process) and newly developed methods that promise improved recovery of high-purity sulphate of potash (SOP) from brines. The company recently received a positive patentability report from the International Preliminary Examining Authority, reinforcing the intellectual property strength of its technology. Further patent applications have been submitted to protect advancements made in 2025.
Engagement with global strategic investors and potential joint venture partners remains a key focus. Reward is actively pursuing collaborations with solar seawater salt producers, fertilizer companies, and seawater desalination operators, particularly in the Middle East. These discussions aim to leverage Reward’s technology and the Beyondie Potash Plant assets to develop commercially viable SOP production operations that also offer environmental benefits by utilising waste brines.
Operational and Financial Position
During the December quarter, Reward incurred approximately $178,000 in exploration expenditure and maintained a cash balance of around $938,000. The company’s financial position is supported by fully drawn unsecured loans from an executive director, providing a total facility of $5.7 million. Reward is actively managing its assets, including the Beyondie Potash Plant, which is currently under care and maintenance but offers a low-risk opportunity for restart or relocation to support new SOP projects.
Looking ahead, Reward plans to interpret the Copper Lance sampling results, progress tenement grants, continue technology commercialisation efforts, and explore new project acquisitions. The company’s diversified approach across base metals, gold, gypsum, and potash, combined with its proprietary processing technology, positions it well to capture opportunities in evolving mineral markets.
Bottom Line?
Reward Minerals is positioning itself at the intersection of mineral exploration and innovative potash processing, with upcoming assay results and joint venture talks set to shape its next phase.
Questions in the middle?
- What will the assay results from the Copper Lance project reveal about its commercial potential?
- How will ongoing joint venture discussions with solar salt and desalination companies progress?
- What impact will the new potash processing technologies have on Reward’s cost structure and market competitiveness?
