REG - First Dev. Resources - Admission to AIM and First Day of Dealings
29/07/2025 07:10
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RNS Number : 8888S First Development Resources PLC 29 July 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
29 July 2025
First Development Resources plc
('First Development", "FDR" or the "Company')
Admission to AIM and First Day of Dealings
First Development Resources plc (AIM: FDR) a UK based, Australian focused
exploration company with mineral interests in Western Australia and
Australia's Northern Territory, is pleased to announce the admission of its
entire share capital, being 105,859,430 ordinary shares of 1 pence each
("Ordinary Shares"), to trading on the AIM market of the London Stock Exchange
("Admission").
Admission and dealings in the Ordinary Shares will commence at 8.00 a.m. today
under the TIDM and ISIN of FDR and GB00BRY05092 respectively. The Company has
raised gross proceeds of £2.3 million (before expenses) through the issue of
34,482,759 new Ordinary Shares at a placing price of 6.67 pence per share.
As from today, the Company's registered address has been changed to Salisbury
House, London Wall, London EC2M 5PS.
The Admission Document as well as information required pursuant to AIM Rule 26
are available at the Company's website at: www.firstdevelopmentresources.com
(http://www.firstdevelopmentresources.com)
Tristan Pottas, CEO of FDR, commented:
"First Development Resources' admission to AIM comes at a time when the world
needs more critical, precious-and base-metals. This presents an exciting
opportunity for a company such as ours with ownership of four diverse
exploration and development assets located within one of the world's most
attractive mining jurisdictions. We believe FDR represents significant
potential and are eager to accelerate both exploration and corporate
development activities immediately following our listing.
I would like to extend my sincere thanks to the entire FDR team and our
shareholders for their support as we navigated the detailed exploration and
corporate steps that have brought us to this point. Their commitment has been
instrumental in positioning the Company for future growth and value creation.
I would like to take this opportunity to welcome our new investors and we now
look forward to advancing and executing our operational work programmes."
For further information visit www.firstdevelopmentresources.com
(http://www.firstdevelopmentresources.com) or contact the following:
First Development Resources plc Tel: +44 (0) 20 3778 1397
Tristan Pottas (CEO)
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Nominated Adviser
Roland Cornish / Asia Szusciak
SI Capital Limited Tel: +44 (0) 1483 413 500
Broker
Nick Emerson
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.
OVERVIEW OF FIRST DEVELOPMENT RESOURCES
First Development Resources' assets comprise eight granted tenements covering
a total area of 2,314.4km(2). Five of the tenements, comprising three
prospective copper-gold projects, are located in Western Australia (WA) while
the remaining three tenements, comprising a rare-earth element (REE), uranium,
lithium and gold project, are located in the Australian's Northern Territory.
All tenements are wholly owned by FDR.
The WA Projects include the Company's flagship Wallal Project as well as Ripon
Hills and Braeside West Projects situated in the Paterson Province, which is
widely regarded as one of the most productive regions in Australia for the
discovery of world-class gold-copper deposits, and which is home to several
world-class mines and more recent discoveries.
The Selta Project in the Northern Territory is located in an area considered
highly prospective for uranium and rare-earth element mineralisation along
with base and precious metal mineralisation. Numerous companies are actively
exploring within the region.
Beyond the existing portfolio, FDR is actively looking to expand its portfolio
through the acquisition of early-stage exploration projects in Australia.
Location
Well-endowed with natural resources, Australia is a globally significant
producer of more than 20 mineral commodities including bauxite, cobalt, gold,
lithium, iron ore, mineral sands, nickel and rare-earth elements ("REEs").
Australia's resource and energy commodity exports are forecast to be worth
AU$387B in FY 24-25. (Office of the Chief Economist, Australian Department of
Industry, Innovation and Science, March 2025).
In 2024, Australia had around 350 operating mines producing 26 major and minor
mineral commodities. Mining accounts for approximately two-thirds of
Australia's total merchandise exports, with the combined energy and mineral
commodity exports forecast to be worth AU$387B in 2024-25.
Projects with Critical and High-Demand Minerals
First Development's principal focus is to undertake exploration primarily for
copper and gold in Western Australia and for REE's, lithium and uranium in the
Northern Territory. The FDR Board believe the Projects give the Company
exposure to the traditional precious metals market as well as capitalising on
the emerging green metals markets.
FDR's Wallal Project comprises three granted exploration licences covering a
combined area of 572.9 km(2) and located approximately 240km east of Port
Hedland on the western edge of the Paterson Province, WA. Three copper-gold
exploration targets have been defined at the Project using geophysical
surveying, and are known as the Eastern, Border and Western anomalies. The
primary styles of mineralisation being targeted by FDR are intrusive-related
breccia hosted copper gold mineralisation systems. The Company expects to
commence its Phase I Diamond Drilling Programme in the coming weeks to test
the Eastern anomaly.
FDR's Selta Project comprises three granted ELs covering approximately
1,575km(2), which are considered prospective for lithium, REE, uranium, gold
and potentially base metal mineralisation. Based on small field reconnaissance
programs in 2022 and 2023, as well as in-depth desktop reviews of publicly
available exploration data, FDR has identified nine prospective target areas.
FDR proposes to initially explore four target areas considered to have the
highest exploration potential. Planned works include soil and rock geochemical
sampling, mapping and a geophysical survey (magnetics). Systematic,
methodical, first-pass exploration is expected to commence later this year.
Management Team & Strategy
The members of the Company's Board have deep expertise in mining and mine
development, considerable knowledge of the Australia mining sector, as well as
expertise in corporate finance, legal and regulatory issues, ecology and the
environment.
The Directors believe the establishment of a UK-based, Australian-focused
AIM-quoted company creates the opportunity to generate shareholder value
through the process of discovering and advancing new mineral deposits with a
focus on copper-gold and uranium - rare-earth elements in Australia.
First Development's mineral assets are currently in the early-stage
exploration phase, so whilst this means that they are highly risky,
exploration success and progressing one or more of the Projects into the
development phase could add significantly to their value.
IMPORTANT NOTICES
The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed by any
person for any purpose on the information contained in this announcement or
its accuracy, fairness or completeness.
This announcement is for information purposes only and does not constitute an
offer to sell or issue or the solicitation of an offer to buy, acquire or
subscribe for shares in the capital of the Company in Canada, Australia, Japan
or the Republic of South Africa or any other jurisdiction where such offer or
solicitation may be restricted, unlawful or unauthorised. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of such jurisdictions. Subject to certain exemptions, the securities
referred to herein may not be offered or sold in Canada, Australia, Japan, or
the Republic of South Africa or to, or for the account or benefit of any
national resident or citizen of Canada, Australia, Japan, or the Republic of
South Africa.
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement is not
an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.
This announcement is addressed to and directed only at persons who are (a)
persons in member states of the European Economic Area who are "qualified
investors" within the meaning of Article 2(e) of the EU Prospectus Regulation
(Regulation (EU) No 2017/1129), or (b) persons in the United Kingdom who are
"qualified investors" within the meaning of Article 2(e) of the UK Prospectus
Regulation (Regulation (EU) No. 2017/1129, which is part of UK law by virtue
of the European Union (Withdrawal) Act 2018) (the "UK Prospectus Regulation"),
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Potential investors should not base their financial decision on this
announcement. Acquiring investments to which this announcement relates may
expose an investor to a significant risk of losing all of the amount invested.
Persons considering making investments should consult an authorised person
specialising in advising on such investments. The value of the Ordinary Shares
can decrease as well as increase.
This announcement contains statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements involve known
and unknown risks and uncertainties, many of which are beyond the Group's
control and all of which are based on the Directors' current beliefs and
expectations about future events. In some cases, these forward-looking
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Forward-looking statements are not guarantees of future performance. The
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the industry in which the Group operates may differ materially from the future
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achieved; actual events or results may differ materially as a result of risks
and uncertainties facing the Group. Such risks and uncertainties could cause
actual results to vary materially from the future results indicated, expressed
or implied in such forward-looking statements.
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affiliates, expressly disclaims any obligation or undertaking to update,
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and disclaims any obligation to update its view of any risks or uncertainties
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