Diatreme Resources Ltd (ASX:DRX), a silica sands developer and explorer focused on advancing its extensive silica assets portfolio, has announced a priority offer for its shareholders in the upcoming Moonlight Resources Limited IPO. This follows Diatreme’s Share Sale Agreement with Moonlight to sell all outstanding shares in its subsidiaries, Chalcophile Resources Pty Ltd and PGE Minerals Pty Limited, which own the Clermont Project.
As part of the agreement, Moonlight will issue 16,250,000 ordinary shares to Diatreme, valued at $3,250,000, and pay A$250,000 in cash. Diatreme shareholders, registered as of close of business on 28 October 2025, will receive a priority offer of up to $3.0 million in Moonlight shares at an issue price of $0.20 per share. Participating shareholders will also receive one free attaching option for every two new Moonlight shares acquired under the IPO. These options will have a 3-year expiry and an exercise price of $0.30.
According to the announcement, Moonlight has lodged its IPO Prospectus with ASIC, and it is available for download on Moonlight’s website. Key dates for the IPO include an opening date of 4 November 2025 and a closing date of 14 November 2025, with trading of shares on the ASX expected to commence on 28 November 2025. The IPO offer price is A$0.20, with 50,000,000 shares available.
Diatreme’s CEO, Neil McIntyre, stated that the Clermont asset is non-core to Diatreme, which is focused on the development of its silica assets. The transaction allows Diatreme to transition the Clermont tenements to a well-credentialed exploration and development team while retaining an interest in its future development. Diatreme shareholders are advised to read the Moonlight IPO Prospectus in full and consult with their financial advisors before making any investment decisions.
