Siren Gold (ASX:SNG) Updates Investors On Part Of Its Rua Gold Stake As It Scaled Back New Zealand Exploration Pending Permit And

Aditi Sarkar

29 October 2026 03:07 PM AEDT

Siren Gold (ASX:SNG) Updates Investors On Part Of Its Rua Gold Stake As It Scaled Back New Zealand Exploration Pending Permit And

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Highlights

On 27 August 2026 Siren sold 700,000 RUA Gold shares at C$1.15 each, for net proceeds of A$799,000.
It retains 13,187,897 shares, which it values at about A$17.7 million at C$1.33 on 30 September.
Net operating outflow was A$670,000 and exploration spending A$449,000, partly offset by the sale proceeds.
The Appendix 5B estimates only 0.5 quarters of funding, based on quarterly outgoings of A$1.119 million.

Siren Gold (ASX:SNG) has reported a September 2026 quarter in which it sold part of its holding in Canadian-listed RUA Gold, scaled back exploration while permit and access matters are resolved in New Zealand, and ended the period with A$596,000 in cash. No drilling took place.

Rua Gold Sale And Cash Position

On 27 August 2026 Siren sold 700,000 RUA Gold shares at C$1.15 each, for net proceeds of A$799,000. It retains 13,187,897 shares, which it values at about A$17.7 million at C$1.33 on 30 September. That valuation is a market-based figure and can change.

Cash fell from A$927,000 at 30 June to A$596,000. Net operating outflow was A$670,000 and exploration spending A$449,000, partly offset by the sale proceeds. The Appendix 5B estimates only 0.5 quarters of funding, based on quarterly outgoings of A$1.119 million. Siren says other funding options include a capital raising or selling further RUA shares, and states it has no immediate need to raise cash. Related-party payments were A$201,000.

Shares on issue were 301,011,817 after 1,000,000 Class A performance rights converted on 11 September. Zeta Resources increased its holding to 19.94 per cent. After quarter-end, litigation with the former managing director was settled commercially on confidential terms.

Sams Creek

The mining permit application for Sams Creek was declined by New Zealand Petroleum and Minerals on 19 May 2026, and the Waitui and Barrons Flat permits were relinquished on 8 July. The ground then became available through the Newly Available Acreage process, and on 7 October Sams Creek Gold Ltd applied for a five-year exploration permit over 4,098.8 hectares. The report does not say whether that application has been decided. The judicial review of the decision is stayed, with the hearing vacated until further notice. The Department of Conservation released NZ$55,000 of a NZ$60,000 rehabilitation bond, with the balance to follow a weed survey.

Langdons And Queen Charlotte

At Langdons, a gold and antimony project on the West Coast, no fieldwork was done. Soil geochemistry defines an anomalous corridor about 250 metres wide over 400 metres of strike. An access arrangement application for maiden drilling is under review by the Department of Conservation, and approval is needed before drilling can begin. The company describes the project as drill-ready, although drilling remains conditional on that approval.

At Queen Charlotte in Marlborough, 130 soil samples and two rock chips were collected, with assays pending. A drilling application at Endeavour Inlet covering 17 pads was withdrawn on the department's advice, because twelve pads sit in a contaminated area under investigation. Siren plans to resubmit after preliminary results. Channel samples reported earlier include 6.0 metres at 2.9 g/t gold at Maria Reef.

Highlay And The Rua Gold Portfolio

Siren's subsidiary Terraquest applied on 30 July 2026 for a five-year permit over 5,009 hectares at the north-western end of the Hyde-Macraes Shear Zone in Otago. A decision is expected about six months after lodgement, and no drilling is planned initially. RUA Gold's Auld Creek project qualified for a fast-track process, and its Glamorgan project received maiden drilling approval for a planned 9,000-metre program, which RUA describes as fully funded.

Resources And Risks

The report gives no Mineral Resource or Exploration Target figure. Exploration has been scaled back, and the company's near-term plans hinge on regulatory decisions outside its control, including the Langdons access approval, Queen Charlotte contamination findings and the Highlay permit.

Next Milestones

Pending items are the Department of Conservation decision on Langdons, preliminary contamination results before a Queen Charlotte resubmission, assay results from the soil program, the Highlay decision expected around January 2027 and the Sams Creek bond balance.

FAQs

Q: What is the principal development covered in this update?

A: Siren Gold has reported a September 2026 quarter in which it sold part of its holding in Canadian-listed RUA Gold, scaled back exploration while permit and access matters are resolved in New Zealand, and ended the period with A$596,000 in cash. No drilling took place.

Q: What should readers watch next?

A: Pending items are the Department of Conservation decision on Langdons, preliminary contamination results before a Queen Charlotte resubmission, assay results from the soil program, the Highlay decision expected around January.

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