Highlights

  • Yandal finalises Gordons Gold Project sale, receiving AUD 2.81m in cash and shares.
  • Option exercises since 30 September 2025 contribute AUD 1.9m in additional funding.
  • Post-quarter cash position recalculated at about AUD 18m after recent inflows.

Yandal Resources Ltd (ASX:YRL) has completed the previously announced Tenement Sale Agreement (TSA) with Horizon Minerals Ltd for the divestment of a 100% interest in the Gordons Gold Project. The TSA, originally executed in August 2025, is now fully settled, with the Company receiving the complete consideration outlined in the agreement.

The total value of the transaction stands at AUD 2.81m, comprising AUD 0.2m received as a refundable deposit upon execution of the TSA, AUD 1.0m in completion cash, and AUD 1.61m in Horizon shares. The share component, equal to 37,573,385 fully paid ordinary shares, was issued at a price reflecting a 10% discount to the 15-day volume-weighted average price prior to the agreement’s execution date. These shares carry no escrow restrictions. KPMG Corporate Finance acted as adviser and manager for the divestment process.

Additional Funding from Option Exercises

Alongside the completion of the tenement sale, Yandal has also recorded significant proceeds from the exercise of unlisted YRL options. Most of the AUD 0.11 options due to expire on 17 November 2025 (WST) have now been exercised, generating approximately AUD 1.9m since 30 September 2025. If the remaining outstanding AUD 0.11 options are fully exercised, the Company expects to collect an additional AUD 0.7m.

These inflows follow a prior AUD 13.5m share placement completed in October 2025, as disclosed in the Company’s 1 October ASX release.

Revised Cash Position and Funding Outlook

Yandal reported a cash balance of AUD 2.3m at 30 September 2025. When adjusted for post-quarter-end inflows—including proceeds from the placement, the option exercises and the settlement of the Gordons Tenement Sale—the recalculated cash position stands at approximately AUD 18.0m.

The Company states that this liquidity level will enable work programs across its priority exploration areas, which include the Arrakis Discovery, the New England Granite target and the Flushing Meadows deposit.

Updated Mineral Resource Portfolio

Following the sale of the Gordons Gold Project, Yandal’s combined Mineral Resources across its remaining portfolio now total 10.8Mt at 1.3g/t Au for 450koz, as reported in the accompanying Table 1 of the announcement.

Share Performance of YRL

YRL was trading 7.40% higher at AUD 0.290 per share as of 11 November 2025 at the time of writing.