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REWARD MINERALS LTD (RWD)

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Our website ranking of RWD: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000RWD5
Address: 159 Stirling Highway, NEDLANDS, WA, AUSTRALIA, 6009
Tel:  (08) 9386 4699Fax: (08) 9386 9473

Date first listed: 12/12/1991

Sector: Materials Industry Group: XMJ
Activities: Gold exploration company

News & Events

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The suspension of trading in the securities of Reward Minerals Ltd will be lifted immediately following the release by RWD of an announcement regarding the acquisition of the Beyondie Project.

18/03/2024

Despite an exhaustive effort, the Company has been unable to secure sufficient funding to complete the acquisition of the Beyondie Sulphate of Potash Project and have adequate working capital available. Therefore, the Company has entered into a deed of termination with Kalium and the Receivers terminating the Share Sale Agreement. As part of the deed of termination, Reward, Kalium and the Receivers have agreed to a mutual release of their respective obligations under the Share Sale Agreement. Kalium and the Receivers are entitled to retain amounts paid by Reward towards the Receiver's fees, costs and expenses of the care and maintenance of the Beyondie Project during the period from 1 January 2024 to 10 March 2024, in addition to retaining the nonrefundable exclusivity deposit of $250,000.

18/03/2024

The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement in relation to the acquisition of the Beyondie Project or the commencement of trading on Monday, 25 March 2024.

15/03/2024

The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement in relation to the acquisition of the Beyondie Project or the commencement of trading on Monday, 18 March 2024.

08/03/2024

The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement or the commencement of trading on Monday, 11 March 2024.

01/03/2024

The Company is seeking an extension to the voluntary suspension of its securities pending the release of an announcement in relation to the acquisition of the Beyondie Project. The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement or the commencement of trading on Monday, 4 March 2024.

23/02/2024

Kalium Lakes' Receivers are currently working with Reward to amend the SSA and Deed of Company Arrangement proposed for the sale of KLL's subsidiaries, Kalium Lakes Potash Pty Ltd and Kalium Lakes Infrastructure Pty Ltd. These amendments are to reflect that completion of this transaction may no longer rely on Reward's Entitlement Offer. It is now expected that the sale transaction will complete by mid-March 2024.

20/02/2024

The Company is seeking an extension to the voluntary suspension of its securities pending the release of an announcement in relation to the acquisition of the Beyondie Project. The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement or the commencement of trading on Monday, 26 February 2024.

16/02/2024

The Board has resolved to withdraw the Entitlement Offer announced by the Company to ASX on 10 January 2024. A supplementary prospectus was lodged with ASIC on 16 February 2024 to give effect to the withdrawal of the Entitlement Offer and accelerate the expiry of the prospectus lodged by the Company with ASIC on 9 January 2024 and supplemented on 10 January 2024. The Share Sale Agreement with the Receivers and Managers of Kalium Lakes Limited to acquire the Beyondie SOP Project remains on foot. The Company is in advanced discussions with the Receivers regarding an alternative proposal with respect to the acquisition of the Beyondie SOP Project. As at the date of this announcement there is no guarantee the alternative proposal will materialise or that the Share Sale Agreement will complete.

16/02/2024

The Company is seeking an extension to the voluntary suspension of its securities pending the release of an announcement in relation to its proposed acquisition of the Beyondie Project and associated entitlement offer. The Company anticipates that the voluntary suspension will remain in place until the earlier of the Company releasing the announcement or the commencement of trading on Monday, 19 February 2024.

12/02/2024

The securities of Reward Minerals Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of RWD, pending the release of an announcement regarding its proposed acquisition of the Beyondie Project and associated entitlement offer.

07/02/2024

The suspension of trading in the securities of Reward Minerals Ltd will be lifted immediately following the release by RWD of an announcement regarding a material acquisition.

16/11/2023

Reward has entered into an exclusivity deed with Kalium to provide a period of exclusivity during which the parties have agreed that they intend to negotiate in good faith to seek to agree the terms of a sale agreement and any associated documents required to give effect to the sale of the Beyondie Project, in line with key terms set out in a non-binding term sheet. Total upfront consideration of $14.75 million cash (plus a final payment of $5 million by 30 June 2025 and an exclusivity payment of $250,000). The previous owners of the Beyondie Project are estimated to have spent in excess of $400 million1 on Mineral Resource/Reserve definition, development, construction and operations of the only producing SOP mine in Australia, prior to the appointment of Receivers and Managers and Voluntary Administrators on 3 August 2023. The Reward team, led by Executive Director Dr Michael Ruane, has over 50 years combined solar salt and SOP technical and commercial experience. The team has been investigating the Beyondie Project for some time and believes the current flowsheet and unit operations at Beyondie can be simplified with a view to enabling profitable SOP production at the site. Incorporation of aspects of Reward's new SOP Potash processing technology may also enhance the revenue generating possibilities from the substantial SOP brine resources identified. Reward's proposed changes to the evaporation and processing techniques at the Beyondie Project are subject to site based confirmation studies and statutory approvals, however, have potential to generate significant value for Reward shareholders.

16/11/2023

The securities of Reward Minerals Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of RWD, pending the release of an announcement regarding a potential material acquisition.

09/11/2023

The suspension of trading in the securities of Reward Minerals Ltd will be lifted immediately following the release by RWD of an announcement regarding a material acquisition.

28/07/2022

The Company will not proceed with the material acquisition referred to in its request for Voluntary Suspension dated 20 July 2022. The Company requests that the Voluntary Suspension on trading of its securities be lifted and trading resumes on 28 July 2022.

28/07/2022

The securities of Reward Minerals Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of RWD, pending the release of an announcement regarding a material acquisition.

20/07/2022

The suspension of trading in the securities of Reward Minerals Limited (the "Company") will be lifted immediately, following receipt of an announcement by the Company. Security Code: RWD RWDO

26/02/2014

The securities of Reward Minerals Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement in relation to a capital raising. Security Code: RWD RWDO

25/02/2014

the suspension of trading in the securities of Reward Minerals Limited (the "Company") will be lifted before the commencement of trading on Wednesday 28 December 2011, following receipt of an announcement regarding the Lake Disappointment Potash Project

23/12/2011

the securities of Reward Minerals Limited (the "Company") will be suspended from quotation from the commencement of trading on Thursday 22 December 2011, at the request of the Company, pending the release of an announcement

21/12/2011

the suspension of trading in the securities of Reward Minerals Limited (the "Company") will be lifted before the commencement of trading tomorrow, following receipt of an announcement regarding the Lake Disappointment potash project

19/09/2011

the suspension of trading in the securities of Reward Minerals Limited (the "Company") will be lifted before the commencement of trading tomorrow, following receipt of an announcement regarding the Lake Disappointment potash project

19/09/2011

we understand that on or about this date the company made an in specie distribution of 1 share in Jinka Minerals for every 4.06 shares in the company

31/08/2009

reinstated to quotation

20/04/2004

name changed from Asia Multi-Foods and Oils Australia Limited

13/02/2004

shares remain suspended

13/02/2004

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    10/05/2024Michael Ruane309,000$0.025$7,731
    19/04/2024Michael Ruane310,332$0.028$8,676
    28/03/2024Michael Ruane139,668$0.028$3,921
    30/11/2023Michael Ruane51,700$0.044$2,263
    29/09/2023Michael Ruane299,780$0.044$13,069

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Colin McCavanaNon Exec Chairman24/02/2010
    Michael RuaneManaging Director, CEO03/12/2004
    Lorry HughesCEO08/09/2022
    Rod Della VedovaNon Exec Director18/01/2013
    Bianca TaveiraCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Greg CochranCEO01/12/201701/07/2021
    Gary LethridgeManaging Director31/03/201717/05/2017
    William BrooksNon Exec Director26/03/200331/05/2013
    Cyrille Van HeystNon Exec Director26/03/200331/05/2013

    Date of first appointment, title may have changed.