RRE: Annual Report to Shareholders - 30 June 2026
Original announcement by asx on
- Company
- Right Resources Limited
- Ticker
- RRE
- Exchange
- ASX
- Region
- New South Wales, Australia
- Primary commodity
- Gold
- Secondary commodities
- Tungsten, Copper, Silver, Bismuth, Tellurium
- Document categories
- Drill results, Metallurgy, Other
- Extracted
- 2026-09-30 04:29:17 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Right Resources Limited's annual report highlights a strategic shift in its Tumbarumba exploration, moving from a prospect-specific focus to a district-scale Reduced Intrusion-Related Gold System (RIRGS) model. This new understanding led to the identification of the promising Blue prospect, which shows significant tungsten-bismuth-gold anomalies and encouraging preliminary metallurgical results. While maiden drilling at the Pilot Project confirmed extensive mineralization, initial gold grades were low, prompting a change to PhotonAssay for improved accuracy. The company also defined exploration targets at Kingston and Mary Read based on historical high-grade gold and silver intercepts, and successfully completed a capital raise post-period to fund ongoing exploration.
Reasoning: Right Resources Limited's annual report highlights a strategic shift in its Tumbarumba exploration, moving to a district-scale RIRGS model, which led to the identification of the promising Blue prospect with encouraging preliminary metallurgical results. While maiden drilling at Pilot yielded low-grade gold, new assay methods and geological interpretation provide a clearer path for future targeting. The company also defined exploration targets at Kingston and Mary Read based on historical high-grade intercepts and secured additional funding post-period, despite auditor concerns about going concern.
Positive factors
- New geological model (RIRGS) providing a broader targeting framework for the Tumbarumba region.
- Identification and rapid advancement of the Blue prospect, showing significant tungsten-bismuth-gold anomalies.
- Encouraging preliminary metallurgical testwork at Blue, indicating amenability to gravity beneficiation.
- Maiden drilling at Pilot Project confirmed an extensive mineralized hydrothermal system.
- Change to PhotonAssay methodology improved understanding of gold distribution at Pilot.
- Definition of new Exploration Targets at Kingston and Mary Read based on historical high-grade intercepts.
- Successful capital raise post-period to fund ongoing exploration activities.
Negative factors
- Initial gold grades at Pilot Project were below targeted levels, requiring re-evaluation of the model.
- Exploration Targets at Kingston and Mary Read are conceptual and not yet formal Mineral Resources.
- Preliminary metallurgical testwork at Blue is from a single surface sample and may not be representative.
- Auditor noted a 'material uncertainty related to going concern' for the company.
- Drill intercepts at Pilot are reported as apparent width only, with no true width stated.
- Metallurgical testwork at Blue is bench-scale only and limited to a single domain.
Facts used in scoring: 11
Classification and evidence
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The annual report includes a 'JORC COMPLIANCE STATEMENTS' section and names a Competent Person, indicating disclosure of QA/QC procedures.
Evidence · text
“JORC COMPLIANCE STATEMENTS”
QP/CP Signedpositive · Story-specific tag
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Mr Graham Howard, Managing Director, is named as the Competent Person responsible for Exploration Results in accordance with JORC Code (2012 Edition).
Evidence · text
“Mr Graham Howard, Managing Director of Right Resources Limited. Mr Howard is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM)... to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).”
Apparent Width Onlynegative
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: All reported drill intercepts for Pilot, Kingston, and Mary Read are given as downhole lengths without stating true widths or drill orientations.
Evidence · text
“2m @ 0.37 g/t Au from 338m”
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The 'Exploration Targets' at Kingston and Mary Read are based on historical drilling and production results, not new assays, indicating low genuine novelty for these specific figures.
Evidence · text
“The Exploration Target estimates referred to in this Annual Report are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 11. Some facts used in scoring do not have a stored record.
Drill Results (10)
RRPT0001Pilot · goldGrade: 0.37Grade Unit: g/tIntercept: 2 mView all detailsHide details
Identity
- Hole ID
- RRPT0001
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.37
- Grade Unit
- g/t
- Intercept
- 2 m
- From
- 338 m
- To
- 340 m
- Intercept Depth
- 338 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0001:338-340
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept confirms gold mineralisation within the Pilot system, but the grade is low, and only apparent width is provided, limiting its immediate significance.
Positive factors
- Confirmed gold mineralisation within an extensive hydrothermal system.
Negative factors
- Low gold grade for an exploration target.
- Apparent width only, true width not stated.
Evidence · text
“2m @ 0.37 g/t Au from 338m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
RRPT0001Pilot · goldGrade: 0.35Grade Unit: g/tIntercept: 16 mView all detailsHide details
Identity
- Hole ID
- RRPT0001
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.35
- Grade Unit
- g/t
- Intercept
- 16 m
- From
- 348 m
- To
- 364 m
- Intercept Depth
- 348 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0001:348-364
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This broad intercept confirms gold mineralisation and shows improved grades with the new assay method, but the overall grade remains low, and true width is not provided.
Positive factors
- Confirmed gold mineralisation over a broad interval within the hydrothermal system.
- Grade increased by 69% compared to previous fire assay results.
Negative factors
- Low gold grade for an exploration target.
- Apparent width only, true width not stated.
Evidence · text
“16m @ 0.35 g/t Au from 348m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
RRPT0001Pilot · goldGrade: 0.48Grade Unit: g/tIntercept: 7 mView all detailsHide details
Identity
- Hole ID
- RRPT0001
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.48
- Grade Unit
- g/t
- Intercept
- 7 m
- From
- 373 m
- To
- 380 m
- Intercept Depth
- 373 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0001:373-380
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept confirms gold mineralisation with improved grades from the new assay method, but the grade is still low, and true width is not provided.
Positive factors
- Confirmed gold mineralisation within the hydrothermal system.
- Grade increased by 33% compared to previous fire assay results.
Negative factors
- Low gold grade for an exploration target.
- Apparent width only, true width not stated.
Evidence · text
“7m @ 0.48 g/t Au from 373m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
RRPT0004Pilot · goldGrade: 0.46Grade Unit: g/tIntercept: 3.7 mView all detailsHide details
Identity
- Hole ID
- RRPT0004
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.46
- Grade Unit
- g/t
- Intercept
- 3.7 m
- From
- 342.3 m
- To
- 346 m
- Intercept Depth
- 342.3 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0004:342.3-346
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This intercept confirms the continuation of the vein system but shows a low gold grade, and only apparent width is provided.
Positive factors
- Confirmed continuation of the sheeted vein system.
Negative factors
- Low gold grade for an exploration target.
- Apparent width only, true width not stated.
Evidence · text
“3.7m @ 0.46 g/t Au from 342.3m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
RRPT0004Pilot · goldGrade: 0.11Grade Unit: g/tIntercept: 3 mView all detailsHide details
Identity
- Hole ID
- RRPT0004
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.11
- Grade Unit
- g/t
- Intercept
- 3 m
- From
- 353.7 m
- To
- 356.7 m
- Intercept Depth
- 353.7 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0004:353.7-356.7
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Despite an increase from previous assays, the gold grade is very low, suggesting limited economic significance for this intercept, and true width is not provided.
Positive factors
- Grade increased by 84% compared to previous fire assay results.
Negative factors
- Very low gold grade, indicating limited economic potential.
- Apparent width only, true width not stated.
Evidence · text
“3m @ 0.11 g/t Au from 353.7m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
RRPT0004Pilot · goldGrade: 0.2Grade Unit: g/tIntercept: 2.4 mView all detailsHide details
Identity
- Hole ID
- RRPT0004
- Project
- Pilot
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- australia_nsw
- Ticker
- RRE
Geometry
- Grade
- 0.2
- Grade Unit
- g/t
- Intercept
- 2.4 m
- From
- 362.6 m
- To
- 365 m
- Intercept Depth
- 362.6 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- RRPT0004:362.6-365
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The gold grade is very low, suggesting limited economic significance for this intercept, and true width is not provided.
Negative factors
- Very low gold grade, indicating limited economic potential.
- Apparent width only, true width not stated.
Evidence · text
“2.4m @ 0.20 g/t Au from 362.6m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 7Kingston Prospect · goldGrade: 108Grade Unit: g/tIntercept: 3 mHistorical resultNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Kingston Prospect
- Commodity
- gold
- Region
- australia_tas
- Reported Region
- australia_tas
- Ticker
- RRE
Geometry
- Grade
- 108
- Grade Unit
- g/t
- Intercept
- 3 m
- From
- 58 m
- To
- 61 m
- Intercept Depth
- 58 m
Classification
- Sample Type
- drill
- Group ID
- Kingston_Prospect:58-61
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows bonanza-grade gold, highlighting significant potential, but it is not new data and true width is not provided.
Positive factors
- Exceptionally high-grade gold intercept, indicating bonanza potential.
Negative factors
- Historical data, not new results.
- Apparent width only, true width not stated.
Evidence · text
“3m @ 108 g/t Au and 102 g/t Ag from 58m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Bonanza InterceptRejected · positive
Exceptionally high-grade zone, well above the deposit-type norm.
Reason: The gold grade of 108 g/t is exceptionally high, well above the typical exceptional threshold for gold.
Evidence · text
“3m @ 108 g/t Au”
Fact 8Kingston Prospect · silverGrade: 102Grade Unit: g/tIntercept: 3 mHistorical resultNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Kingston Prospect
- Commodity
- silver
- Region
- australia_tas
- Reported Region
- australia_tas
- Ticker
- RRE
Geometry
- Grade
- 102
- Grade Unit
- g/t
- Intercept
- 3 m
- From
- 58 m
- To
- 61 m
- Intercept Depth
- 58 m
Classification
- Sample Type
- drill
- Group ID
- Kingston_Prospect:58-61
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows a strong silver grade, but it is not new data and true width is not provided.
Positive factors
- Strong silver grade associated with high-grade gold.
Negative factors
- Historical data, not new results.
- Apparent width only, true width not stated.
Evidence · text
“3m @ 108 g/t Au and 102 g/t Ag from 58m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 9Mary Read Prospect · silverGrade: 75.6Grade Unit: g/tIntercept: 4.6 mHistorical resultNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mary Read Prospect
- Commodity
- silver
- Region
- australia_tas
- Reported Region
- australia_tas
- Ticker
- RRE
Geometry
- Grade
- 75.6
- Grade Unit
- g/t
- Intercept
- 4.6 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows a moderate silver grade, but it is not new data and true width is not provided.
Positive factors
- Moderate silver grade from historical drilling.
Negative factors
- Historical data, not new results.
- Apparent width only, true width not stated.
Evidence · text
“4.6m @ 75.6 g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Fact 10Mary Read Prospect · silverGrade: 262Grade Unit: g/tIntercept: 0.8 mHistorical resultNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Mary Read Prospect
- Commodity
- silver
- Region
- australia_tas
- Reported Region
- australia_tas
- Ticker
- RRE
Geometry
- Grade
- 262
- Grade Unit
- g/t
- Intercept
- 0.8 m
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows a strong silver grade, but it is not new data and true width is not provided.
Positive factors
- Strong silver grade from historical drilling.
Negative factors
- Historical data, not new results.
- Apparent width only, true width not stated.
Evidence · text
“0.8m @ 262 g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Metallurgical Results (1)
Heavy Liquid SeparationBlue Prospect · tungstenHead Grade: 0.48Head Grade Unit: % WO₃View all detailsHide details
Identity
- Project
- Blue Prospect
- Commodity
- tungsten
- Ticker
- RRE
Test Work
- Test Type
- Heavy Liquid Separation
- Processing Route
- gravity-based beneficiation
- Sample
- composite head grade
Recovery
- Recovery Basis
- actual_test
- Head Grade
- 0.48
- Head Grade Unit
- % WO₃
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Preliminary metallurgical testwork at Blue shows an encouraging tungsten head grade and amenability to gravity beneficiation, but the results are early-stage, from a single sample, and bench-scale only, limiting confidence.
Positive factors
- Encouraging head grade for tungsten.
- Indication of amenability to gravity-based beneficiation, a potentially low-cost process.
Negative factors
- Preliminary metallurgical studies, not definitive.
- Sample from a single surface location, not necessarily representative of variability.
- Bench-scale testwork only, not locked-cycle or pilot scale.
Evidence · text
“composite head grade of 0.48% WO₃”
Tags used in scoring
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.