In a significant move to advance its flagship American asset, Australian-listed Dateline Resources has secured critical water rights and a strategic infrastructure site for its fully-owned Colosseum gold and rare earths project in California.
Key Infrastructure and Water Deal Secured
The company has executed an option agreement that provides access to approximately 27 acres of paved industrial land at the base of Colosseum Mine Road in San Bernardino County. The site comes complete with four existing buildings and, crucially, two dedicated groundwater wells capable of supplying 100% of the water required for full-scale mining and processing.
Dateline can exercise the option at any time within the next 16 months for a total fee of up to US$200,000. Upon exercise, it converts to a 10-year lease with an option for a further 5-year extension on pre-agreed terms.
This ready-to-use location will serve as an immediate laydown yard, staging area, equipment storage, maintenance hub, and personnel parking. By repurposing existing facilities, the company expects to significantly reduce upfront capital needs compared to building from scratch.
Project Economics and Recent Progress
The Colosseum project hosts a JORC-2012 compliant mineral resource estimate of 27.1 million tonnes averaging 1.26g/t gold for 1.1 million ounces. A Scoping Study released in May 2025 outlined a robust operation, projecting production of 635,000 ounces over an initial eight-year period.
The study's economics, built on a gold price of US$2,900 per ounce, are now poised for a substantial boost with the current spot price hovering around US$4,500 per ounce. The study had projected net revenues of US$827 million, an NPV of US$550 million, and a standout IRR of 61%.
Adding to the momentum, drilling results announced on 15 December 2025 continued to deliver strong gold intercepts in the North Pipe zone, reinforcing mineralisation continuity and supporting the existing resource.
Pathway to Production
Dateline's Bankable Feasibility Study (BFS) for Colosseum remains firmly on track for completion in Q1 2026. The company has received nearly all vendor quotations for machinery and equipment, with data now being integrated into refined capital and operating expenditure models.
The company has planned a closed-loop, zero-wastewater processing plant design, which will further conserve water through full on-site recycling.
"It's business as usual at Colosseum," said Dateline Resources managing director and CEO Stephen Baghdadi. "We now have a guaranteed water source for our processing plant and an infrastructure site at the foot of the mine. This puts us in an excellent position as we finalise the feasibility study and head into the new year."
With these key hurdles addressed and ongoing drilling success, Dateline is steadily advancing the Colosseum project toward a potential construction decision in 2026, positioning it as a near-term US gold and potential rare earths producer.
