Revolver Resources (ASX:RRR) has secured a $3 million bridge loan to fund the next stage of early works at the Dianne Copper Mine Project in Far North Queensland.
The company has signed binding documents with BBPRI, trading as Blackbird, for the six-month facility. The funds are available for immediate drawdown, with no conditions precedent.
Under the terms, interest accrues at 1.75% per month and is capitalised over the loan term. Revolver will repay $3.7 million at maturity, covering the principal, interest, and fees.
The facility is secured by a general security agreement over the Dianne Project’s assets.
Revolver intends to deploy the money for key civil works, completion of its solvent extraction and electrowinning (SX/EW) design, and procurement of long-lead items, with work expected to commence shortly.
The company says negotiations on a broader funding package are continuing in parallel, covering forecast pre-production capex of about $20 million, working capital of approximately $10 million, and product offtake. Revolver intends to repay the bridge loan when the broader package reaches financial close.
A final investment decision is expected soon after funding is completed, followed by full-scale construction.
Revolver expects to produce its first copper cathode within 12 months of construction commencing.
The company’s January 2026 recommencement study forecasts about 14,500 tonnes of copper over an initial four-year operating life.
The Dianne Project sits about 260km northwest of Cairns in Far North Queensland. The project is supported by the Queensland Critical Minerals and Battery Technology Fund.
Revolver Resources is focused on copper exploration in established Australian mining jurisdictions.
Write to Paula Fabe at Mining.com.au
Main image: Revolver Resources
