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