Reach Resources Limited
RR1.AX
Australian Securities Exchange0.01
AUD
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Reach Resources Limited
RR1.AX
(Australian Securities Exchange)
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yld
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ROIC.AI
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- Reach Resources Limited (ASX:RR1) explores and evaluates mineral resource projects in Western Australia, primarily focusing on gold alongside critical minerals including rare earth elements, lithium, niobium, manganese, and base metals; its core assets encompass the Murchison South Gold Project featuring the high-grade Blue Heaven and Pansy open pits with 753,000 tonnes at 2.8 grams per tonne gold for 67,100 ounces under JORC 2012, the Wabli Creek Rare Earth and Niobium Project, Skyline Rare Earth Project, Morrissey Hill and Camel Hill lithium-rare earth prospects, White Castles Manganese Project, and others such as Wanna Station, Gascoyne Banks, and Mt James Creek tenements. The company maintains a strategic equity position in US-based REEcycle Inc., which recovers rare earth elements from end-of-life permanent magnets to support a circular economy for electric vehicles, wind turbines, and related technologies. Founded in 2001 and headquartered in Perth, Reach Resources operates exclusively in Australia's resource-rich Gascoyne Mineral Field and Murchison region, targeting near-term gold production to generate cash flow while advancing critical minerals exploration for battery metals and renewable energy markets. Recent developments include the granting of new Mining Lease M59/790 at Murchison South incorporating the Jacamar gold deposit, high-grade gold assays from initial drilling at Blue Heaven validating historical results as part of a 5,000-metre program to expand resources, high-grade niobium and rare earth assays from Wabli Creek rock chips confirming primary pegmatite sources, a farm-out deal with Delta Lithium at the Yinnetharra-adjacent tenements, and an updated 61,000-ounce gold resource alongside toll-treating studies to accelerate Murchison South cash flows; the company, formerly Cervantes Corporation Limited, shifted strategic emphasis toward Gascoyne critical minerals with acquisitions of Morrissey Hill, Camel Hill, and White Castles tenements in 2024.