ASX-listed Accelerate Resources Ltd. said May 28 that it will reduce fixed costs by up to 46% within the next 12 months "in recognition of the tightness of current capital markets."

The gold, base metals and cobalt-focused company's directors also agreed to take a voluntary 30% to 50% remuneration cut as part of the broader cost reduction plan.

The board noted that it will continue to undertake detailed assessments of new project opportunities.