Key Highlights

  • Yari completed the Arcadia Coal Project acquisition on 20 October 2026, lifting reported JORC coal resources from 222.9Mt to 504.9Mt.
  • Arcadia's EPC 1772 hosts 282Mt, made up of 164Mt Indicated and 118Mt Inferred, with an average in-situ ash of about 10 per cent.
  • Completion terms were A$50,000 in cash and 147,594,744 shares, with A$20 million in production-linked payments and a 1.5 per cent royalty to follow.
  • Cash stood at $1.610 million at 30 September 2026, and a $2.2 million placement at $0.0045 per share supported the transaction.

Yari Resources Limited (ASX:YAR) used the September 2026 quarter to assemble a larger coal position in Queensland's Bowen Basin, agreeing to acquire the Arcadia Coal Project and then completing the deal on 20 October. The acquisition took the company's reported JORC coal resources to 504.9Mt, more than double the previous 222.9Mt, and the company has since moved its principal place of business to Brisbane.

Arcadia Brings 282Mt Into the Portfolio

On 3 August 2026 Yari agreed to acquire 100 per cent of Northern Comet Resources Company, holder of the Arcadia Coal Project, which comprises EPC 1054, EPC 1772 and EPC 1042 in Central Queensland. EPC 1772 carries a JORC 2012 resource of 282Mt, split into 164Mt Indicated and 118Mt Inferred. The estimate was prepared by JB Mining Services in February 2017, and a review by ROM Resources found no major issues, with tonnages varying by less than 15 per cent because of different modelling software.

The project lies in the Rolleston coal district, close to Yari's Rolleston South Coal Project. Both projects sit within reach of the Blackwater rail system and the Port of Gladstone, and Rolleston South lies immediately south of Glencore's Rolleston mine. Individual seams in the Arcadia estimate range from 16Mt in the Castor 1 seam to 80Mt in Aries 1.

A coal quality review announced on 7 September 2026, led by Chris McMahon of McMahon Resources, examined historical data from 44 bore cores and 1,472 samples across the B, C and D seams. It indicated average in-situ ash of about 10 per cent and pointed to possible semi-soft coking, PCI and high-energy thermal coal products, potentially from different parts of the deposit. Yari is also assessing five cored petroleum and coal seam gas wells that were not used in the 2017 model.

Deal Terms and the Change in Resource Base

Completion on 20 October 2026 involved A$50,000 in cash and 147,594,744 shares subject to 12 months of escrow. Further obligations include A$400,000 of minimum expenditure over three years, A$1.25 million in resource and tenure milestone payments, A$20 million in production-linked cash payments, a 1.5 per cent gross revenue royalty and a 10 per cent entitlement to future sale consideration.

Total resources rose 126.5 per cent to 504.9Mt, while Indicated resources climbed from 33.7Mt to 197.7Mt, an increase of 486.6 per cent. On a per-share basis, total resource moved from 0.266 to 0.342 tonnes per share as shares on issue grew from 839,463,804 to 1,475,644,105. The 504.9Mt figure is the sum of two separately reported estimates, and no new estimate or reclassification has been issued. It compares with the 78.9Mt first reported for Rolleston South in May 2025.

Funding, Finances and Corporate Changes

To fund the transaction, Yari raised up to $2.2 million through 488,888,889 shares at $0.0045, each paired with a free unlisted option exercisable at $0.0075 within two years. Tranche One raised about $944,397, and shareholders approved Tranche Two and the options at the 21 September 2026 general meeting. CPS Capital, the lead manager, received 44,000,000 broker options. Exploration spending in the quarter was $0.302 million, directors were paid $0.184 million, and cash at quarter end was $1.610 million.

For the half year to 30 June 2026 Yari recorded a net loss of $972,831, against $2,595,170 a year earlier, with no borrowings. On 19 October 2026 the company moved its principal place of business to Level 38, 71 Eagle Street, Brisbane, while the registered office is unchanged. During the quarter it also built a unified drilling and coal quality database covering Rolleston South and Arcadia, and continued talks with potential strategic partners and traders.

Where the Quarter Leaves Yari

Yari finished the period with two adjoining Queensland coal projects, a combined 504.9Mt of separately reported resources and a head office in Brisbane. Rolleston South holds 222.9Mt and Arcadia 282.0Mt, with 197.7Mt of the total in the Indicated category.