Schedule One - First Development Resources Plc | RNS | Ticker

Schedule One - First Development Resources Plc

RNS Announcement

RNS Number : 7689Q

AIM

11 July 2025

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

First Development Resources Plc

("FDR", "First Development Resources" or the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

201 Temple Chambers

3-7 Temple Avenue

London

EC4Y 0DT

COUNTRY OF INCORPORATION:

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

https://firstdevelopmentresources.com/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

First Development Resources is a UK based, Australian focused exploration company with mineral interest in three prospective copper-gold projects located in Western Australia (WA) and one rare-earth element (REE), uranium, lithium and gold project located in Australia's Northern Territory.

The WA Projects comprise the Company's flagship Wallal Project as well as Ripon Hills and Braeside West Projects situated in the Paterson Province, which is widely regarded as one of the most productive regions in Australia for the discovery of world-class gold-copper deposits, and which is home to several world-class mines and more recent discoveries.

The Wallal Project covers an area of 572km² and is FDR's primary focus in the region due to several geophysical anomalies which have been identified following the completion of an in-depth desk top study which included the reprocessing of historical seismic data along with the analysis of historic magnetic and gravity geophysical surveys. The three untested magnetic "bullseye" anomalies named the Western, Eastern and Border anomalies are reported in the Competent Person's Report to have a similar amplitude to the geophysical signature seen at another nearby discovery. At Wallal, FDR's primary target is the Eastern anomaly where the target is planned to be tested in the Phase I diamond core drilling programme scheduled to commence immediately post Admission.

The other two WA Projects, Ripon Hills and Braeside West, cover a combined area of approximately 175km². The tenements are located approximately 250km southeast of Port Hedland on the western edge of the Paterson Province in Western Australia in the area which is primarily prospective for manganese, as well as base-metal and gold mineralisation associated with deep seated north to north-westerly trending fault structures. The Directors believe that the fault structures have the potential to be conduits for various styles of hydrothermal mineralisation as recently reported by another exploration company on land adjacent to the Braeside West tenement. An in-depth desktop study has been completed to better understand the prospectivity of the Ripon Hills and Braeside West Projects, and FDR is now planning the next phase of exploration over defined areas targeted for further investigation. The mineral rights for iron and manganese are excluded from both the Ripon Hills and Braeside West tenements.

The Company's latest addition to its portfolio was the acquisition of the Selta Project located in the Northern Territory in an area considered by the Directors prospective for uranium and rare -earth elements along with lithium and gold. The Northern Territory has a long history of uranium mining and hosts some of Australia's best known and high-grade uranium and REE deposits. The Selta Project, which covers a total land area of almost 1,600km², is also considered by SRK to be prospective for base and precious-metal mineralization and Lithium-Tantalum-Caesium (LCT) pegmatites are also known to be present in the region. In addition to the uranium and REE targets identified, reconnaissance work at Selta has also confirmed the presence at surface of pegmatites. Work is currently underway to develop a focused exploration strategy to determine the mineralogy of the pegmatite in an attempt to validate historical commentary which suggest Selta could host LCT style pegmatite.

The Company's main country of operations is Australia.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of ordinary shares of 1 pence each ("Ordinary Shares") for which Admission is being sought: 105,771,980.

The Ordinary Shares are and will remain freely transferable and have no restrictions as to transfer placed on them.

The issue price: 6.67 pence (the "Issue Price").

No Shares are or will be held in treasury.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: £2.3 million

Anticipated market capitalisation on Admission £7 million (at the Issue Price)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

58%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

N/A

THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Michael "Mike" James Moore, Independent Non-executive Chairman

Tristan Lawrence Pottas, Chief Executive Officer

Benjamin "Ben" James Hodges, Finance Director (part-time)

Luke Sebastian Cairns, Independent Non-executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Name	Percentage of Existing Ordinary Shares	Percentage of Enlarged Share Capital
Power Metal Resources plc	58.59%	45.71%
Reid Machine Pty Ltd	5.06%	3.15%
Taka Custodians Pty Ltd	5.06%	3.15%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 30 June

(ii) 31 December 2024

(iii)

- 31 December 2025 (audited accounts for the year ended 30 June 2025)

- 31 March 2026 (unaudited interim financial statements for 6 months ended 31 December 2025)

- 31 December 2026 (audited accounts for the year ended 30 June 2026)

EXPECTED ADMISSION DATE:

29 July 2025

NAME AND ADDRESS OF NOMINATED ADVISER:

Beaumont Cornish Limited

5-10 Bolton Street

London

W1J 8BA

NAME AND ADDRESS OF BROKER:

SI Capital Limited

46 Bridge Street Godalming

Surrey

GU7 1HL

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The AIM Admission Document, which will contain full details of the applicant and admission of its securities, will be available from the Company's website: https://firstdevelopmentresources.com/

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Code

DATE OF NOTIFICATION:

11 July 2025

NEW/ UPDATE:

NEW

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END

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RNS metadata

Title: Schedule One - First Development Resources Plc
Time: 12:00:01
Date: 11 Jul 2025
Category: Capital structure
ID: 7689Q