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Australian Silica Quartz Group Ltd (ASX:ASQ)

ALERT: Price-sensitive ASX Announcement for ASQ
Current share price for ASQ : $0.016 -0.006 (-27.27%)+
Announcement
Release
21 Apr 2026 10:43AM
Price at Release
$0.022
Full Release
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Summary
Australian Silica Quartz Group Ltd (ASQ) has entered into an agreement to acquire Australian Kaolin Pty Ltd (AKL) by issuing 100 million shares to AKL shareholders, priced at 2 cents per share, valuing the transaction at A$2 million. The transaction, subject to ASQ shareholder approval and an independent expert's assessment, will see major AKL shareholders, who hold about 90% of the company, placed under a voluntary escrow for 24 months or until a substantial offtake agreement is secured. The White Swan Kaolin Project, owned by ASQ, is strategically positioned near Esperance Port, which supports its export plans. The project boasts a 47Mt inferred Mineral Resource and is projected to undergo further exploration and feasibility studies to optimize kaolin production potential. This acquisition is aimed at strengthening ASQ's position in the high-grade kaolin market.
Key Points
  • Australian Silica Quartz Group Ltd (ASQ) plans to acquire Australian Kaolin Pty Ltd (AKL).
  • The acquisition involves ASQ issuing 100 million shares to AKL shareholders at 2 cents per share.
  • Major AKL shareholders will be under a 24-month escrow or until a significant kaolin offtake agreement.
  • The transaction requires ASQ shareholder approval and an independent expert's report.
  • ASQ's White Swan Kaolin Project has a 47Mt inferred Mineral Resource.
  • The project is located near Esperance Port in Western Australia, facilitating export logistics.
  • ASQ plans further exploration and a feasibility study at the White Swan Project.
  • The transaction enhances ASQ's kaolin resource base, aiming for high-grade kaolin production.
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.