Funding for Colosseum Project
Sales Proceeds to be used at Colosseum
Dateline Resources Sells Udu Copper Project, Boosts Focus on Colosseum Gold-REE Project in California
NEW YORK CITY, NY / ACCESS Newswire / May 12, 2025 / Dateline Resources Limited (OTC Pink:DTREF) ("Dateline" or "the Company") is excited to announce the sale of its full interest in Dateline Resources Pty Ltd (Fiji), the 100% owner of the Udu Copper Project in Fiji, to Viva Metals Pty Ltd, an Australian private group building a robust portfolio of mining assets in Fiji. This strategic move allows Dateline to sharpen its focus on its flagship Colosseum Gold and Rare Earth Element (REE) Project in California, while ensuring the Udu Project's future growth under an owner committed to Fiji's economic development. Dateline extends its gratitude to the Fijian Government, local communities, and landowners for their support and is confident that Viva Metals will continue to drive positive outcomes for Fiji.
Transaction Highlights
The sale agreement provides Dateline with a mix of immediate cash, equity, and future milestone payments for the Udu Project:
$250,000 USD (approx. A$350,000) in cash, payable within 45 days.$650,000 USD (approx. A$1,000,000) in shares issued to Dateline upon Viva Metals (or its nominee) achieving a future listing on the Australian Securities Exchange (ASX).Up to $2 million USD (approx. A$3,000,000) in milestone payments, structured as:$500,000 USD (approx. A$750,000) upon Viva Metals delineating a JORC-compliant Indicated Mineral Resource of at least 150,000 ounces of gold equivalent at Udu.$500,000 USD (approx. A$750,000) upon the start of commercial production at Udu.A 1% Net Smelter Return (NSR) royalty on metals or minerals produced from Udu, capped at $1 million USD (approx. A$1,500,000).
This deal delivers immediate capital to Dateline, maintains long-term exposure to Udu's potential, and supports continued investment in Fiji's mining sector under Viva Metals' stewardship.
Advancing Colosseum's Growth
The cash proceeds of $250,000 USD will be directed toward advancing Dateline's Colosseum Project in San Bernardino County, California. A past-producing gold mine, Colosseum is being redeveloped to unlock its gold and rare earth element (REE) potential. The funds will support the ongoing Bankable Feasibility Study (BFS) for the gold resource and exploration activities targeting REE deposits. Colosseum's strategic importance to U.S. critical mineral supply chains has drawn significant attention, positioning Dateline as a key player in America's resource sector.
OTCQB Listing on Track for Q3 2025
Dateline is progressing toward a Q3 2025 listing on the OTCQB Venture Market, a step up from its current OTC Pink trading under the ticker DTREF. The Company has completed all necessary paperwork for OTCID market participation, a critical milestone toward the OTCQB upgrade. This move will enhance transparency, liquidity, and access to a wider pool of U.S. institutional and retail investors.
The OTCQB listing aligns with growing U.S. interest in Colosseum. On April 25, 2025, President Donald J. Trump highlighted the project in a Truth Social post, calling it "America's second rare earths mine" and praising its permitting approval after years of delays. This endorsement underscores Colosseum's role in strengthening U.S. critical mineral and precious metals production.
Colosseum Rare Earths Drilling Program
Dateline is advancing plans for a rare earth drilling program at Colosseum, located just 6 miles north of the Mountain Pass Rare Earth Mine. This initiative supports U.S. federal goals to secure domestic supplies of critical minerals vital for technology, defense, and clean energy. The program builds on Colosseum's established gold resource, which includes a JORC-2012 compliant Mineral Resource Estimate of 27.1 million tons at 1.26 g/t gold for 1.1 million ounces (41% Measured, 26% Indicated, 33% Inferred).
Looking Ahead
Dateline's leadership is confident that the Udu sale and intensified focus on Colosseum will drive long-term shareholder value. By monetizing a non-core asset and reinvesting in a high-potential U.S. project, Dateline is well-positioned to capitalize on America's demand for gold and critical minerals.
About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on mining and exploration in North America. The company owns 100% of the Colosseum Gold-REE Project in California, a strategic asset with significant gold and rare earth elements potential.
For more information, visit www.datelineresources.com.au.
Follow Dateline on X:https://twitter.com/Dateline_DTR
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding the potential of the Colosseum Project, the expected benefits of the OTCQB listing, the company's plans for future development, and the strategic importance of the project for U.S. critical minerals supply. Forward-looking statements are based on the company's current expectations, estimates, and projections, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to: fluctuations in the prices of gold and rare earth elements; changes in regulatory requirements or permitting processes; geological or technical challenges in exploration and development; market conditions affecting the company's ability to raise capital; environmental or social factors impacting operations; risks associated with the OTCQB listing process or trading on a new market; environmental and permitting risks associated with operating in a national preserve; uncertainty regarding the delineation of a mineable rare earth elements resource; risks related to the company's ability to secure necessary funding for project development; and potential changes in government policies or priorities affecting the critical minerals sector. The company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Competent Person Statement
The exploration information in this press release has been reviewed by Mr. Greg Hall, a Chartered Professional of the Australasian Institute of Mining and Metallurgy. Mr. Hall has sufficient experience relevant to the style of mineralization and deposit type to qualify as a Competent Person under the JORC Code. He consents to the inclusion of this information in the context in which it appears.
For More Information, Please Contact:
Stephen BaghdadiManaging Director+61 2 9375 2353www.datelineresources.com.auAndrew RowellWhite Noise Communications+61 400 466 226andrew@whitenoisecomms.com
SOURCE: Dateline Resources Limited
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
GATEGROUP CLOSES CHF 1.4B REFINANCING TO STRENGTHEN FINANCIAL POSITION AND SUPPORT LONG-TERM STRATEGY
Zurich, June 17, 2025 – gategroup Holding AG and its subsidiaries ('gategroup' or the 'Group') have successfully closed a comprehensive refinancing package consisting of a EUR 675 million term loan, a USD 500 million term loan and a CHF 300 million multicurrency revolving credit facility. The transaction supports the Group's ongoing transformation, enhances its financial flexibility and positions it for continued growth. The new financing marks gategroup's debut as a Term Loan B (TLB) issuer and was priced on May 28, 2025 at the tighter end of the original guidance. The company is pleased to have attracted strong demand from a broad syndicate of top-tier global institutional investors and banking partners. Proceeds from the refinancing will be used to repay existing indebtedness, including a EUR 250 million term loan A and a CHF 415 million revolving credit facility, as well as other loans and accrued interest. The transaction also provides additional liquidity for general corporate purposes. 'This successful refinancing represents a key milestone for gategroup. It reflects strong market confidence in our business and creates a solid capital structure to support our long-term strategic ambitions,' said Urs Schwendinger, Chief Financial Officer of gategroup. 'With an extended maturity profile and improved financial flexibility, we are well positioned to drive operational excellence and growth across our global platform.' The closing of the refinancing will lead to ratings upgrades by both Moody's and S&P Global. The new corporate ratings are B2 and B+ respectively. For media and investor inquiries, please contact: IR@ About gategroupgategroup is the global leader in airline catering, retail-on-board, and hospitality products and services. Headquartered in Zurich, Switzerland, gategroup operates over 200 units in more than 60 countries, delivering culinary and retail excellence to passengers across all continents. Learn more at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
UBS: Outlook suggests more balanced risk-reward for commodities
-- UBS sees a mixed macroeconomic outlook for commodities but maintains a constructive stance on the asset class over the medium term. In its latest note, the bank said it expects commodities to 'deliver strong diversification benefits for traditional bond/equity portfolios,' although near-term risks have become more balanced. 'With momentum signals improving lately but macro signals suggesting a mixed picture amid muted manufacturing and upside risks to inflation, the top-down assessment now indicates a more balanced risk-reward,' UBS analysts wrote. As a result, the firm has moved its top-down allocation to neutral while keeping sector preferences unchanged. Over the longer term, UBS remains bullish. 'A steady rise in emerging market demand, global efforts to achieve net-zero CO₂ emissions, climate change, and structural underinvestment across almost every sector should support commodity prices over the coming years,' the note said. However, UBS cautioned that prices are 'unlikely to move higher in a straight line from here.' UBS recommends an active approach to commodity investing, built around three key pillars: adjusting exposure dynamically to reflect macro trends, using a sector-specific strategy to exploit unique opportunities, and enhancing returns by 'replacing money-market securities with a higher-yielding collateral portfolio.' 'With this active investment approach,' UBS concluded, 'we believe investors can navigate commodity markets effectively, and significantly improve the risk-adjusted returns of a broad commodity engagement versus a more passive strategy.' On precious metals, the bank said that the recent Middle East crisis' reinforces the ongoing need for portfolio diversification.' The bank maintained a moderate overweight rating on gold amid geopolitical uncertainties. For energy, UBS explained that the risk premium now being factored into prices could fade in case of no supply disruptions, while for industrial metals, the bank notes that tariff uncertainty and slower global economic growth are expected to have an adverse impact on demand in Q3. However, in the long term, they anticipate higher prices on the back of lower rates, a weaker USD and supply constraints. Related articles UBS: Outlook suggests more balanced risk-reward for commodities Citi trims gold prices target as markets digest U.S. tariffs and geopolitics Oil in biggest gain since 2022 as Israel hits Iran, but Citi warns gains may fade Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Central banks expect to swap out more of their U.S. dollar reserves for gold as greenback's safe-haven status weakens
Central banks from the Global South are actively shifting their own reserves toward gold at a much faster rate than advanced economies to reduce their exposure to the U.S. dollar amid growing trade protectionism, according to a survey by the World Gold Council. 'The recent market developments around tariffs have raised questions on the safe-haven status of USD/UST, but have bolstered that of gold,' one response read. Roughly every second central bank in the Global South plans to expand its own gold reserves over the coming 12 months, new data shows, and the currency most likely to pay the price for the shift is the U.S. dollar. Results from the Central Bank Gold Reserves Survey 2025 published on Tuesday by the World Gold Council (WGC) found geopolitical instability and potential trade conflicts as chief reasons why emerging economies are shifting toward gold at a much faster rate than advanced economies. Asked more broadly about their expectations regarding how their international peers will behave in the coming 12 months, there was near unanimity regardless of the country of origin. Of the 15 central banks from advanced economies and 58 central banks from emerging markets and dynamic economies, or EMDE, polled, 95% expected overall gold reserves to increase in the next 12 months. This helps explain why the precious metal—despite its lack of a yield versus other assets as well its physical storage costs—touched $3,446 an ounce, close to its April record, while the U.S. dollar index is near three-year lows. 'The uncertainty stemming from the tariffs implemented and committed by the USA regarding trade policies in the recent period may reduce the interest in USD and USD-denominated assets as a reserve currency,' one anonymous central bank is quoted as saying in the report. Of all institutions polled, 48% of those in the Global South expected their own gold reserves to grow in the immediate future versus just 21% in advanced economies. Respondents argued the de-dollarization trend that favors a shift to gold would continue owing to increased tariffs and trade protectionism, but any decline would likely be gradual as a result of the U.S.'s deep financial markets, comparatively strong legal institutions, and the lack of any obvious substitute. In 2024, central banks bought 1,045 metric tons of gold, accounting for about a fifth of global demand. This marked the third straight year during which they accumulated over 1,000 tons, according to figures from the WGC, up sharply from the 400- to 500-ton average over the preceding decade. According to the survey, 72% of all respondents believe gold reserves held by the world's central banks will increase moderately over the next five years versus 66% the previous year. Another 4% of respondents, coming entirely from non-advanced economies, predict the gain will be even be significant, up 1 percentage point from before. 'Central banks are expected to continue purchasing gold as they look for ways to reduce dependence on USD,' one central bank replied in the survey. 'The recent market developments around tariffs have raised questions on the safe-haven status of USD/UST, but have bolstered that of gold.' By comparison, 45% expect a moderate drop in U.S. dollar holdings over the same time period. While this represents an improvement over the 49% a year earlier, the number replying dollars would see a significant decline soared—to 28% from 13% previously. The sharpest divergencies in responses between advanced economies and the Global South related to the trend of de-dollarization and how great a role geopolitical tensions play in fueling it. When asked how much of total global reserves would still be denominated in dollars five years from now, more central banks from non advanced economies anticipated a slight decrease from the current 43% share than their peers in advanced economies. For comparison, gold accounted for only 19% of total reserves, with 15% allocated in euros and 2% in Chinese renminbi. Among those that expected no change in the share of dollar-denominated reserves, the relationship was flipped: far more advanced economies believed this to be the case than those elsewhere. 'This resonates with the recent trend in reported central bank holdings, where we see a stronger appetite for gold accumulation from [emerging markets and dynamic economies] central banks,' the World Gold Council concluded. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
