Corella Resources Ltd: Strategic Board Expansion and New Securities Quotation

Corella Resources Ltd (ASX: CR9), a specialist exploration and mining services provider focused on kaolin and silica projects in the Yilgarn Craton, announced a series of significant corporate actions on 23 February 2026. The company has moved to broaden its board with the appointment of seasoned geologist Mr Nicholas Revell, while simultaneously seeking a full ASX quotation for 1,499,999 ordinary shares issued on the same day.

Board Reinforcement with an Industry Veteran

Mr Revell’s appointment as a Non‑Executive Director is expected to strengthen Corella’s strategic oversight, particularly in the areas of geological evaluation and resource development. With over three decades of experience in gold, iron‑ore and base‑metal exploration, and current directorships at Far Northern Resources Ltd (FNR) and Kingsland Minerals Ltd (KNG), Revell brings a breadth of knowledge that aligns closely with Corella’s focus on high‑grade, low‑cost mineral projects. His prior tenure as a director of Tyranna Resources Ltd (TYX) further underscores his familiarity with the ASX mining sector’s regulatory and operational landscape.

The appointment follows the resignation of Stuart Third, who held the position until 23 February 2026. Mr Third’s exit was formally documented in a Final Director’s Interest Notice, confirming the transition and ensuring compliance with ASX Listing Rule 3.19A.3. The simultaneous filing of an Initial Director’s Interest Notice for Mr Revell confirms the full disclosure of his existing holdings and interests, satisfying Listing Rule 3.19A.1.

New Securities Quotation: 1.5 Million Ordinary Shares

Corella’s application for a new ASX quotation (Appendix 2A) details the issuance of 1,499,999 fully paid ordinary shares. The shares, issued on 23 February 2026, will enhance liquidity for existing shareholders and provide additional capital‑raising avenues for future exploration initiatives.

The announcement clarifies that the securities were not previously quoted on the ASX, thereby expanding the company’s market presence. This move aligns with Corella’s broader strategy of increasing capital flexibility while maintaining its niche focus on kaolin and silica resources.

Market Context

As of 19 February 2026, Corella’s share price stood at AUD 0.009, reflecting a modest valuation within the materials sector. The company’s market capitalisation is AUD 10,840,742, with a trailing price‑to‑earnings ratio of –5.63, indicative of its exploration‑stage status and limited earnings history. Over the last 52 weeks, the stock has oscillated between a low of AUD 0.0015 (29 June 2025) and a high of AUD 0.013 (2 February 2026), underscoring its volatility and the speculative nature of its operations.

Forward‑Looking Implications

The combination of board expansion and increased liquidity positions Corella to accelerate its development pipeline in the Yilgarn Craton. With Mr Revell’s expertise, the company is better positioned to identify and evaluate high‑grade kaolin and silica prospects, potentially unlocking value for shareholders. Moreover, the newly quoted shares may attract institutional interest, providing a platform for future capital-raising initiatives aimed at scaling exploration and securing production assets.

While Corella remains a small-cap entity with a cautious earnings profile, the strategic moves announced on 23 February 2026 signal a proactive approach to governance and capital structure, enhancing its resilience in a competitive mining services environment.