Revolver Resources has successfully raised A$2.6 million through equity and convertible notes to advance its Dianne Copper Mine Project, targeting a Final Investment Decision soon and copper production within a year.
- A$2.6 million capital raised via A$0.825 million equity placement and A$1.775 million convertible notes
- Funds allocated to early development and procurement for Dianne Copper Mine Project
- Convertible notes issuance subject to shareholder approval in April 2026
- Positive Final Investment Decision targeted in coming months
- First copper cathode output expected within 12 months post-FID
Capital Raising to Accelerate Development
Revolver Resources Holdings Ltd (ASX: RRR) has announced a successful capital raising round totalling approximately A$2.6 million, combining an equity placement and a convertible note issue. This funding boost is earmarked to advance the company’s flagship Dianne Copper Mine Project in northern Queensland, a site with a history of high-grade copper production.
The equity placement raised A$0.825 million through the issuance of nearly 11.8 million new shares at a discounted price of A$0.07 per share, accompanied by attaching options exercisable at A$0.13. Meanwhile, the convertible notes will bring in A$1.775 million, subject to shareholder approval expected in mid-April 2026. These notes offer investors a zero-coupon, 30-month term with conversion options designed to align interests with the company’s growth trajectory.
Strategic Timing Amid Copper Market Strength
Managing Director Pat Williams highlighted that the capital raising comes at a time of robust global copper demand and rising prices, which have improved the commercial terms available to Revolver. This favourable market environment is critical as the company moves towards a Final Investment Decision (FID) on the Dianne project, anticipated within the coming months.
Revolver plans to deploy the funds to continue early development works and procurement activities, positioning the project for a swift transition to production. The company targets first copper cathode output within 12 months following the FID, underscoring the relatively low capital intensity and short lead time of the heap leach and solvent extraction-electrowinning (SX-EW) operation planned at Dianne.
Project and Regional Exploration Outlook
The Dianne Copper Mine Project is situated in the polymetallic Hodgkinson Province, approximately 260 kilometres northwest of Cairns. Historically, the Dianne Deposit was one of the world’s highest-grade operating copper mines. Revolver’s current focus is on developing a capital-lite heap leach SX-EW operation to extract copper efficiently from the existing mineral resource.
Beyond Dianne, Revolver continues to explore regional targets within the Larramore Volcanics Belt, testing for volcanogenic massive sulphide and intrusive-related gold systems. The project also benefits from support under the Queensland Critical Minerals and Battery Technology Fund, reflecting its strategic importance in the battery metals supply chain.
Looking Ahead
With the capital raising complete and shareholder approval pending for the convertible notes, Revolver is well-positioned to advance the Dianne project towards production. The company’s ability to secure funding on improved terms amid a strong copper market signals confidence in the project’s viability and potential contribution to Australia’s critical minerals sector.
Bottom Line?
Revolver’s funding success sets the stage for a pivotal Final Investment Decision and near-term copper production.
Questions in the middle?
- Will shareholder approval for the convertible notes be secured without delay?
- How will fluctuating copper prices impact the final project funding arrangements?
- What are the risks and timelines associated with the planned early development works?