Resources & Energy Group Limited (ASX: REZ) announced on 20 July 2026, that it has executed a formal Joint Venture (JV) agreement with Rembrandt Mining Pty Ltd for gold mining and production at its wholly owned Maranoa Gold Deposit (M29/427). Resources & Energy Group Limited is an Australian gold exploration and development company, primarily focused on projects in Western Australia. Its portfolio includes the East Menzies Gold Project, where the Maranoa deposit is located. This significant agreement marks the imminent commencement of gold mining and production activities at the East Menzies Project.
Under the terms of the JV, a sliding scale profit share mechanism has been established. At a gold price of A$3,000 per ounce, the profit split will be 50/50. This arrangement provides significant upside leverage for REZ, with its share increasing to 60/40 (REZ-favoured) when gold prices reach A$7,000 per ounce and above. Rembrandt Mining will fund 100% of the capital expenditure, including drilling, mining, and processing infrastructure, ensuring zero upfront capital commitment from REZ, unless an inventory of 300,000+ ounces of gold triggers an optional 50/50 CIL plant co-development. REZ will retain 100% tenement ownership and legal operator designation, with Rembrandt operating as a contract operator under a Tribute Mining Agreement, and operating expenses recovered on an open-book, cost-plus-zero markup basis before the profit split.
REZ Group Managing Director J. Daniel Moore highlighted that an RC drilling rig has already arrived at the Maranoa Gold Project for grade control drilling. A key operational decision has been made to deploy a mobile modular mill to the Granny Venn processing site, allowing for on-site ore processing. This strategic partnership preserves REZ’s capital and management attention, enabling the company to focus on further exploration growth and resource definition at its other promising projects, including Goodenough, Gigante Grande, and Granny Venn.
