Reach Resources Limited
Reach Resources Limited (incorporated 2001, Perth-based) explores for gold, rare earths, lithium, niobium and manganese in Western Australia. Its Murchison South Gold Project (Murchison Goldfields Region, WA) comprises two shallow open-pit targets: Blue Heaven, with granted mining leases and a 9 Apr 2026 JORC 2012 Mineral Resource Estimate of 844,000 tonnes at 3.0 g/t gold for 80,000 ounces (530,000t Indicated at 2.60 g/t = 45,000oz, no Measured category; 314,000t Inferred at 3.50 g/t = 35,000oz) -- a 30% increase over a prior (2025) 61,300oz all-categories estimate, with 95% metallurgical recovery demonstrated; and Pansy Pit, 72,000t at 2.5 g/t gold for 5,800oz (100% Inferred, unchanged since May 2025). On 18 May 2026 Reach signed a binding option agreement with Andel Resources Pty Ltd (via subsidiary Gylden Resources, operator of the nearby Kirkalocka Mill) delivering an A$2 million non-refundable option fee plus an A$900,000 strategic placement; Andel exercised that option on 18 Aug 2026, executing a legally-binding Right to Mine (RTM) Agreement over the Blue Heaven tenement (M59/769) under which Andel fully funds pre-mining, mining, haulage and processing costs upfront (recouped from gold revenue) in exchange for a 50/50 share of net project profit -- per the most recent dated update found (the RTM execution announcement itself, 18 Aug 2026), Andel's actual right to mine remains conditional on four unsatisfied conditions precedent (FIRB approval, execution of Project and Ancillary Agreements, and an independent environmental baseline audit), so this is a binding funding deal fast-tracking Murchison South toward production, not yet production itself. Reach also holds the Wabli Creek rare-earths/niobium project in the Gascoyne region and a minority equity stake in US-based REEcycle Inc.
Notable vs. Peers
- Financials score of 8.5/10 is stronger than the peer average of 5.3/10.
Lifecycle Milestones
Not yet determined: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. Western Australia, Australia -- Tier-1 mining jurisdiction.
Infrastructure (40%)6.4/10
Confirmed road access at Murchison South Gold Project (Blue Heaven Deposit), Payne's Find, Western Australia; existing mill, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Rothsay (Vault Minerals Limited), 80 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4/10
Nearest producing mine: Rothsay (Vault Minerals Limited), 80 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:3.5/10
Stage: Resource Definition
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer of Reach Resources Limited, a Perth-based exploration and development company advancing the Murchison South Gold project near Payne Find, Western Australia. Over 15 years' experience in global consulting and mining, including with GHD Pty Ltd and BHP Iron Ore.
Non-Executive Chairman of Reach Resources Limited; also a non-executive director of Everest Metals Corporation Limited. Commercial lawyer with over 20 years' experience advising companies in public and private sectors.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No institutional holder is on record, and the only insider-register entries in the last year are ambiguous 'Other'-type transactions and a rights-entitlement take-up by a director's spouse, neither an open-market purchase.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Reach Resources' main asset is the Murchison South gold project in Western Australia, where the Blue Heaven deposit, on granted mining leases, has an April 2026 JORC resource of 844,000 t at 3.0 g/t for 80,000 oz of gold, 45,000 oz indicated, with no measured category, and 35,000 oz inferred; the separate Pansy Pit holds 5,800 oz inferred. In August 2026 Andel Resources exercised its option and signed a right-to-mine agreement over Blue Heaven under which it funds pre-mining, mining, haulage and processing costs, recouped from gold revenue, for a 50/50 share of net profit, but four conditions precedent, including Foreign Investment Review Board approval, must be met before mining can begin. Reach also holds the Wabli Creek rare earths and niobium project in the Gascoyne region and a minority stake in US-based REEcycle.