Diatreme Resources Limited ( (AU:DRX) ) has provided an update.
Diatreme Resources Limited announced the sale of intellectual property related to scandium extraction technology by its subsidiary, Touchstone Resources Pty Ltd, for $562,500. The proceeds will bolster the company’s cash reserves, supporting the advancement of its Northern Silica Project in North Queensland, thereby strengthening its financial position to achieve its development goals.
More about Diatreme Resources Limited
Diatreme Resources Limited is an emerging Australian producer of mineral and silica sands, based in Brisbane. The company focuses on key projects such as the Northern Silica Project and Galalar Silica Sand Project in Far North Queensland, and the Cape Flattery Silica Project. They also have the Cyclone Zircon Project in Western Australia’s Eucla Basin and own the Clermont Copper-Gold Project in central Queensland. Diatreme is partnered with Sibelco for its Queensland silica projects and aims to contribute to global decarbonization by providing high-grade silica for the solar PV industry.
YTD Price Performance: 4.55%
Average Trading Volume: 1,128,200
Technical Sentiment Signal: Buy
Current Market Cap: A$115.2M
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