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Astral Resources NL (ASX:AAR)

ALERT: Price-sensitive ASX Announcement for AAR
Current share price for AAR : $0.140 -0.035 (-20%)+
Announcement
Release
6 Oct 2026 8:20AM
Price at Release
$0.175
Full Release
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Summary
Estrella Resources Limited announced it has entered into a formal binding agreement with Mandilla Nickel Pty Ltd, a wholly owned subsidiary of Astral Resources NL, to divest 100% of its Spargoville Nickel Rights, being its rights and interests to nickel at the West Kambalda Tenements (M15/395, M15/703, L15/255 and L15/128) and the Spargos Tenement (M15/1828), which are currently held by Estrella subsidiary WA Nickel Pty Ltd. In return, Estrella will receive 20,000,000 fully paid ordinary Astral shares at a deemed issue price of A$0.15 each, representing total consideration of A$3,000,000, with 10,000,000 of those shares to be voluntarily escrowed for six months from completion. Completion remains subject to conditions precedent including necessary shareholder, regulatory and third-party approvals or waivers, including approvals required under the ASX Listing Rules, the Corporations Act and any related transaction documents. Estrella said the divestment supports its strategy to increase focus on its flagship Timor-Leste tenements while retaining investment upside through its equity holding in Astral.
Key Points
  • Estrella entered a binding agreement to divest 100% of its Spargoville Nickel Rights to Astral Resources NL via its subsidiary Mandilla Nickel Pty Ltd.
  • The Nickel Rights cover the West Kambalda Tenements and the Spargos Tenement.
  • Consideration is 20,000,000 Astral shares at a deemed issue price of A$0.15 per share.
  • Total transaction value is A$3,000,000.
  • 10,000,000 of the Astral consideration shares will be voluntarily escrowed for six months from completion.
  • Completion is subject to shareholder, regulatory and third-party approvals or waivers, including under the ASX Listing Rules and Corporations Act.
  • Estrella said the transaction allows it to focus more on its Timor-Leste flagship tenements while retaining upside through Astral shares.
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.