MinRex Sources has entered right into a definitive association settlement to amass all issued and excellent shares of Electrum Discovery, representing a serious gold-copper merger.
The transaction will proceed through a statutory plan of association.
Valued at round $18.73m (A$28m), the deal is being positioned as a merger of equals.
The mixed firm will convey collectively Electrum’s gold and copper tasks in Serbia with MinRex’s property in New South Wales (NSW), Australia.
A key spotlight is Electrum’s Tlamino Gold Mission in Serbia, which incorporates near-surface inferred mineral sources of 670,000oz of gold equal at 2.9 grams per tonne (g/t) gold equal, supported by a preliminary financial evaluation (PEA) accomplished in 2021.
MinRex’s Sofala Gold Mission in NSW hosts inferred mineral sources exceeding 350,000oz of gold at a grade of 1.6g/t.
Within the brief time period, the mixed entity will prioritise unlocking worth on the Tlamino Gold Mission by useful resource growth drilling and exploration aimed toward new discoveries across the present Barje Deposit.
This technique will draw on the substantial present gold useful resource base, detailed focusing on work and prior financial assessments.
Past the Tlamino and Sofala tasks, the merged portfolio can even embrace Electrum’s Timok East Copper-Gold Mission in Serbia’s Western Tethyan Belt, adjoining to the Zijin Bor Copper Complicated.
Work at Timok East will give attention to figuring out a major copper-gold system by testing potential extensions of close by deposits.
In the meantime, MinRex’s present gold and base metals property within the Lachlan Fold Belt in NSW will stay a precedence, with continued emphasis on increasing sources at Sofala.
As soon as the transaction is accomplished, Electrum securityholders are anticipated to carry roughly 49% of the mixed firm, whereas MinRex buyers will personal round 51%.
Every Electrum share will likely be exchanged for 7.9 MinRex shares.
Administrators and buyers representing roughly 28% of Electrum’s issued shares have signed voting assist agreements in favour of the transaction.
The merger has been unanimously endorsed by each boards and is anticipated to be accomplished in March 2026, pending customary regulatory approvals and different customary situations.
MinRex director James Pearse stated: “This merger of equals represents a pivotal second for each corporations. By combining Electrum’s extremely potential and superior Serbian gold-copper property with MinRex’s established NSW venture portfolio, we’re making a stronger, well-funded exploration firm with enhanced scale, diversification and technical depth.
