Latest news with #UduCopperProject
Associated Press
19-05-2025
- Business
- Associated Press
Dateline Resources Fully Funded for Colosseum Gold Project Bankable Feasibility Study
SAN BERNARDINO, CA / ACCESS Newswire / May 19, 2025 / Dateline Resources Limited (OTC:DTREF)(ASX:DTR) is pleased to update its shareholders on the strong financial position and ongoing progress of its flagship Colosseum Gold and Rare Earth Element (REE) Project in California. With a robust cash balance and recent capital inflows, the Company is fully funded to complete the Bankable Feasibility Study (BFS) for the Colosseum Gold Project, a significant milestone in unlocking the project's value. Key Highlights Dateline Resources is well-positioned with current cash reserves of $1.95 million, which are expected to increase to $2.3 million upon receipt of part of the proceeds from the Udu Copper Project sale. The Company has raised approximately $1.1 million through recent warrant exercises, reflecting strong shareholder support. The BFS for the 1.1 million ounce Colosseum Gold Project is progressing on schedule, with metallurgical test work now underway. Additionally, planning for a dedicated REE drilling program at Colosseum is being advanced and guided by leading REE experts. The Company is also on track to uplist to the OTCQB Venture Market in Q3 2025, enhancing visibility for U.S. investors. Financial Strength to Drive Colosseum Forward Dateline's cash reserves stand at $1.95 million, bolstered by $1.1 million raised from recent warrant exercises. An additional $350,000 is expected from the partial payment of the sale of the non-core Udu Copper Project in Fiji, bringing the total cash balance to approximately $2.3 million. These funds fully cover the costs of the Colosseum Gold Project's BFS, ensuring the Company can advance this critical study without delay. The Company has also seen growing interest from warrant holders seeking to convert their holdings, signaling potential for additional organic funding. By monetizing non-core assets like the Udu Copper Project, Dateline is strategically focusing resources on its high-potential U.S. projects, particularly Colosseum. 'We are in a strong financial position to complete the Colosseum BFS, a pivotal step toward realizing the project's full potential,' said Stephen Baghdadi, Managing Director. 'With the support of our shareholders and disciplined capital management, we are well-equipped to deliver value for our investors.' Colosseum Gold Project: BFS Progress The BFS for the Colosseum Gold Project, which hosts a JORC-2012 compliant Mineral Resource of 1.1 million ounces of gold (27.1Mt @ 1.26g/t Au), commenced last month and remains on schedule. Key activities include metallurgical test work, with drill core shipped to Kappes, Cassiday & Associates in Nevada for analysis. Australian Mine Design & Development (AMDAD) is overseeing mine engineering, ensuring a comprehensive study that will guide the project's development. The BFS is expected to be completed in December 2025 Rare Earth Elements: Expanding Colosseum's Potential In addition to its gold resources, Colosseum holds significant REE potential. Planning for a targeted REE drilling program is advancing, with program design led by renowned experts Dr. Anthony Mariano and Tony Mariano. The Company is finalizing drill targets and logistics and will soon commence the tender process for a drilling contractor. This program, announced on May 5, 2025, underscores Dateline's commitment to maximizing the value of Colosseum's diverse mineral assets. OTCQB Uplisting to Broaden U.S. Investor Access Dateline is on track to uplist to the OTCQB Venture Market in Q3 2025, a move designed to increase visibility and accessibility for U.S. investors. This uplisting will complement the Company's ASX listing and support its growth strategy in the U.S. market, where Colosseum is strategically located in the Walker Lane Trend, less than 10km from the Mountain Rare Earth mine. About Dateline Resources Limited Dateline Resources Limited (OTC: DTREF, 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 San Bernardino County, California, which hosts a 1.1 million ounce gold resource and significant REE potential. For more information, visit or follow us on X at 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. Contact Information: Stephen Baghdadi Managing Director +61 2 9375 2353 [email protected] Andrew Rowell White Noise Communications +61 400 466 226 [email protected] SOURCE: Dateline Resources Limited press release
Yahoo
12-05-2025
- Business
- Yahoo
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 / / 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 Follow Dateline on X: 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 Andrew RowellWhite Noise Communications+61 400 466 226andrew@ SOURCE: Dateline Resources Limited View the original press release on ACCESS Newswire 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
Miami Herald
12-05-2025
- Business
- Miami Herald
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 Follow Dateline on X: 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 RowellWhite Noise Communications+61 400 466 226andrew@ SOURCE: Dateline Resources Limited
