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IRIS Metals Limited (ASX:IR1)

ALERT: Price-sensitive ASX Announcement for IR1
Current share price for IR1 : $0.066 -0.044 (-40%)+
Announcement
Release
10 Sep 2025 10:16AM
Price at Release
$0.110
Full Release
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Summary
Rapid Critical Metals Limited announced the sale of its Ingersoll project in South Dakota, USA, to a subsidiary of Iris Metals Limited. The sale agreement includes the issuance of 10,683,756 IR1 shares, with half issued at completion and the other half three months later, pending shareholder approval, along with a cash payment of US$50,000. Additionally, the completion of the sale of the Tin Mountain Project was confirmed, which included a cash payment of US$300,000 to the original claim vendor and a 2% gross revenue royalty to F3 Gold LLC. The announcement was authorized by Byron Miles, Managing Director of Rapid Critical Metals.
Key Points
  • Sale of Ingersoll US Project to Iris Metals.
  • 10,683,756 IR1 shares issued to Rapid, split into two payments.
  • US$50,000 cash payment to Rapid.
  • Completion of Tin Mountain Sale confirmed.
  • F3 Gold LLC retains 2% gross revenue royalty on Tin Mountain claims.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.