Australian mining and exploration firm Western Yilgarn Limited has successfully raised AUD 698,000 (USD 460,680) through a placement of 17.45 million shares valued at AU$0.04 (USD 0.0264) each. Investors received one free attaching option for every two shares subscribed.
The proceeds will fund exploration, metallurgical testwork, and project development across key assets: Julimar West, Cardea 2 and 3, and New Norcia Bauxite-Gallium Projects.
The Julimar West project hosts a substantial inferred resource of 168.3 million tonnes of bauxite, containing 36.1 per cent alumina, while Cardea 2 and 3 collectively hold 36.67 million tonnes (Mt) under JORC (2012) estimates. New Norcia adds 39.27 million tonnes with 22.7 per cent alumina. Combined, the company’s portfolio totals 205 million tonnes, with 34.1 per cent alumina content and 23.7 per cent silica. Proceeds will also support scoping studies, land-access negotiations, and general working capital, positioning the company to expand its bauxite-gallium development footprint.
Cardea 3 resource strengthens project potential
The Joint Ore Reserves Committee has made an inferred mineral resource estimate for Cardea 3 to add 16.57 million tonnes to the bauxite resource base, which is currently at 205 million tonnes across Cardea 2, Cardea 3, and Julimar West.
Pedro Kastellorizos, Non-Executive Director, commented, “We are very pleased with the outcomes of the Cardea 3 Bauxite Resource Estimate. The results demonstrate the project's strong scalability and highlight significant potential for further resource growth through ongoing exploration. Importantly, the current resources are located within trucking distance of a multi-user rail line — a strategic logistical advantage, particularly in the context of record-high alumina and bauxite prices.”
The high-grade subset includes 3.78 Mt at 35.8 per cent Al₂O₃ with 3.7 per cent reactive silica, forming part of the larger 16.57 Mt resource at 34.2 per cent Al₂O₃. Kastellorizos duetheradded, “The Cardea 3 Bauxite Project, in conjunction with our broader Julimar West Bauxite Project, presents a compelling opportunity to deliver shareholder value, support regional employment, and position Western Yilgarn as a new, independent, and highly profitable supplier of premium-grade bauxite.”
Read our report: A Comprehensive Analysis of Bauxite Residue - Red Mud
Project location and logistics advantages
Cardea 3 (E70/6727) lies 17.5 km east of Julimar West, expanding Western Yilgarn’s footprint in the Darling Range high-grade bauxite terrain. The surface mineralisation of this project is over 3 km x 1 km, with 422 vacuum holes drilled and 139 assayed. Notable intercepts include 7.5 million with 48.08 per cent alumina, 4.5 million with 42.5 per cent alumina, 6 million with 44.89 per cent alumina, and 4.5 million with 38.8 per cent alumina.
The project’s proximity to the Millendon Junction Railway Line provides potential for small-to-medium-scale Direct Shipping Ore (DSO) operations, enabling efficient transport to alumina refineries in China and the Middle East.
Its gibbsite-rich composition and low reactive silica content further enhance suitability for DSO exports.
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