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FMR Resources Limited (ASX:FMR)

ALERT: Price-sensitive ASX Announcement for FMR
Current share price for FMR : $0.660 0.06 (10%)+
Announcement
Release
21 Sep 2026 8:22AM
Price at Release
$0.600
Full Release
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Summary
FMR Resources Limited announced that it has signed a conditional share sale and purchase agreement to sell its Fairfield Project in Canada by disposing of all issued share capital in Canadian Future Metals Pty Ltd, whose wholly owned subsidiary holds a 100% interest in Fairfield, to unlisted and unrelated Australian company MFM Resources Limited. The consideration is $200,000 in fully paid ordinary shares in MFM, valued at the price of the capital raising accompanying MFM’s proposed ASX listing. FMR said the sale aligns with its strategy to focus management attention and resources on its Chilean portfolio, including the Los Warbos, La Lorena and Llahuin JV projects, after previously flagging a potential disposal of Fairfield. Completion is targeted by late March 2027 and is subject to conditions including MFM obtaining ASX listing approval, FMR receiving required approvals such as shareholder approval and any ASX Listing Rules confirmations or waivers, and MFM completing satisfactory technical, financial and legal due diligence. FMR also noted that its shareholders will have an opportunity to participate in MFM’s proposed IPO, with details to be provided closer to that process.
Key Points
  • FMR Resources Limited has signed a conditional agreement to sell the Fairfield Project in Canada to MFM Resources Limited.
  • The sale is being executed through the sale of all issued share capital in Canadian Future Metals Pty Ltd, whose subsidiary holds Fairfield.
  • Consideration is $200,000 in fully paid ordinary shares in MFM, priced by reference to MFM’s capital raising for its proposed ASX listing.
  • FMR said the disposal supports its strategic focus on its Chilean portfolio, including Los Warbos, La Lorena and the Llahuin JV.
  • MFM is an unlisted and unrelated Australian company formed to acquire and explore Canadian copper-gold projects.
  • MFM intends to seek an ASX listing by early 2027.
  • Completion is conditional on MFM obtaining ASX listing approval, FMR obtaining required approvals including shareholder approval and any ASX waivers or confirmations, and MFM completing satisfactory due diligence.
  • Completion is expected by late March 2027 if conditions are satisfied or waived.
  • FMR shareholders are expected to have an opportunity to participate in MFM’s IPO.
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.