Yandal Resources Ltd (ASX:YRL) has sold 37,573,385 shares in Horizon Minerals Ltd (ASX: HRZ), putting $2.74 million in the bank.
The Horizon shareholding formed part of the consideration received for the divestment of 100% of the Gordons Gold Project under a tenement sale agreement (TSA) executed in August 2025, with completion occurring on November 11, 2025.
Total funds received from the Gordons divestment amount to $3.9 million.
During the December 2025 quarter, Yandal reported net cash inflows of $18.9 million comprising proceeds from the Gordons transaction (excluding the initial $200,000 deposit), a capital raising of $12.6 million, and the exercise of options contributing $2.6 million.
The company previously reported cash holdings of approximately $2.3 million at September 30. The additional cash reserves from the Gordons divestment, equity raising, and option exercises will support the execution and acceleration of exploration programs planned across Yandal’s key assets.
Strengthening leadership and encouraging results
It has been a busy month for Yandal, which has appointed experienced exploration executive and geologist Chris Newman as a non-executive director.
Newman brings more than 35 years of international experience in exploration, mining operations, resource development, and corporate mergers and acquisitions. He has been associated with multiple exploration discoveries across Australia, Turkey and Canada, and has led teams taking projects through to full-scale mining production.
Separately, Yandal has reported encouraging early results from maiden diamond drilling at the Arrakis Prospect within the Ironstone Well–Barwidgee Project, upgrading key intercepts and confirming a broader mineralised zone as exploration ramps up.
First assays from two diamond tails have built on previous reverse circulation drilling, including 56.5 metres at 1.3 g/t gold from 108 metres, with 14.75 metres at 3.3 g/t in hole 25IWBRC0040D. A second tail, 25IWBRC0041D, returned 37 metres at 0.6 g/t from 180 metres, including 6.5 metres at 1.5 g/t.