SAN BERNARDINO, CA / ACCESS Newswire / June 24, 2025 / Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF), a leading Australian mining and exploration company, today announced that its Managing Director, Stephen Baghdadi, has invested over $1.06 million in the company by exercising 53,000,208 share options. This significant capital injection underscores Baghdadi's confidence in Dateline's strategic direction and its flagship Colosseum Gold and Rare Earth Elements (REE) Project in California.
Baghdadi's investment increases his shareholding to 396,890,307 shares, representing 12.85% of the company, further aligning his interests with those of shareholders. The $1.06 million cash injection bolsters Dateline's financial position, bringing total cash and option exercise commitments to nearly $9 million. "Exercising these options was an easy decision because I have great confidence in Dateline's long-term future. Our project is a high-quality asset with tremendous upside. Increasing my stake in the Company is a long-term investment for me and it underscores my commitment to our long-term vision and growth, and it enhances the company finances by bringing the total cash at bank and option exercise commitments to almost $9,000,000," said Baghdadi.
The funds will support ongoing exploration and development at the Colosseum Project, located in California's Walker Lane Trend. A past-producing gold mine, Colosseum has a JORC-2012 compliant Mineral Resource estimate of 27.1 million tonnes at 1.26 g/t gold for 1.1 million ounces, as announced on June 6, 2024. Recent exploration has revealed promising REE mineralization, positioning Colosseum as a unique dual-commodity opportunity. On May 23, 2025, Dateline reported updated economics for the project, projecting an NPV6.5 of $550 million and an IRR of 61% at a gold price of $2,900 per ounce. The project's proximity to the Mountain Pass Rare Earth mine, less than 10 kilometers away, enhances its potential in the growing critical minerals market.
Dateline's Board of Directors welcomed Baghdadi's investment as a strong endorsement of the company's strategy. "Stephen's commitment reinforces our confidence in the Colosseum Project's ability to deliver long-term value for shareholders," the Board stated. The capital will advance drill testing to assess the project's REE potential and further unlock its gold resources.
About Dateline Resources Limited
Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF) is an Australian company focused on mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California.
The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California. On 6 June 2024, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 27.1Mt @ 1.26g/t Au for 1.1Moz. Of the total Mineral Resource, 455koz @ 1.47/t Au (41%) are classified as Measured, 281koz @1.21g/t Au (26%) as Indicated and 364koz @ 1.10g/t Au (33%) as Inferred.
On 23 May 2025, Dateline announced that updated economics for the Colosseum Gold Project generated an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz.
The Colosseum is located less than 10km north of the Mountain Rare Earth mine. Planning has commenced on drill testing the REE potential at Colosseum.
Forward-Looking Statements
This announcement may contain "forward-looking statements" concerning Dateline Resources that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Dateline Resources' ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behavior of other market participants. Dateline Resources cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements. Dateline Resources assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
Competent Person Statement
Sample preparation and any exploration information in this announcement is based upon work reviewed by Mr Greg Hall who is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP-IMM). Mr Hall has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to quality as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Hall is a Non-Executive Director of Dateline Resources Limited and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Contact Information
Stephen Baghdadi
Managing Director
Dateline Resources Limited
+61 2 9375 2353
info@datelineresources.com.au
www.datelineresources.com.au
Andrew Rowell
White Noise Communications
+61 400 466 226
andrew@whitenoisecomms.com
Follow Dateline on X: @Dateline_DTR
Dateline Resources Limited
Level 29, 2 Chifley Square, Sydney, NSW 2000, Australia
This press release is authorized for release by the Board of Dateline Resources Limited. and Development
SOURCE: Dateline Resources Limited
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