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Morella Corporation Limited (ASX:1MC)

ALERT: Price-sensitive ASX Announcement for 1MC
Current share price for 1MC : $0.027 -0.002 (-6.90%)+
Announcement
Release
20 Aug 2026 8:02AM
Price at Release
$0.029
Full Release
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Summary
Morella Corporation Limited and Elevra Lithium Limited have expanded their Western Australian exploration joint venture by adding four projects: Deep Well, Mt Dove, Mount Satirist, and Station Peak. Morella will earn a 51% interest in these projects by incurring A$300,000 of exploration expenditure over two years, while Elevra retains a 49% interest. The joint venture will encompass all-minerals rights, excluding Mallina and Mt Edon. This expansion allows Morella to leverage its technical expertise across a broader range of opportunities, focusing initially on Mt Dove. The transaction's governance was approved by both companies' boards, and it is subject to Morella's due diligence and regulatory approvals.
Key Points
  • Morella to earn 51% interest in additional projects by spending A$300,000 over two years.
  • Elevra retains 49% interest after Morella's earn-in.
  • Joint venture expansion includes all-minerals rights, excluding Mallina and Mt Edon.
  • Morella to manage and operate the additional projects.
  • Initial exploration priority set on Mt Dove.
  • The transaction is subject to due diligence and regulatory approvals.
  • Governance approved by Morella and Elevra boards.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.