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Hammer Metals Limited (ASX:HMX)

ALERT: Price-sensitive ASX Announcement for HMX
Current share price for HMX : $0.089 0.011 (14.10%)+
Announcement
Release
11 Aug 2026 10:19AM
Price at Release
$0.078
Full Release
download
Summary
Austral Resources Australia Ltd has executed a binding Scheme Implementation Deed to acquire 100% of Hammer Metals Limited. This acquisition is part of Austral's strategy to build a leading Queensland-focused copper company. The transaction involves Hammer shareholders receiving a total implied value of A$0.087 per share, comprising Austral shares and participation in the demerger of Hammer's Western Australian gold assets. The Scheme offers a 70.6% premium to Hammer's closing share price on 10 June 2026. Major shareholders of Hammer, representing approximately 16% of Hammer shares, have indicated their support for the Scheme, contingent on no superior proposal emerging. A reciprocal break fee of A$730,000 is included in the terms, and a loan facility of up to $6 million has been arranged by Austral to support Hammer during the implementation of the Scheme.
Key Points
  • Austral Resources to acquire 100% of Hammer Metals.
  • Scheme offers a 70.6% premium over the closing share price on 10 June 2026.
  • Hammer shareholders to own approximately 31.1% of the enlarged Austral group.
  • Transaction includes the demerger of Hammer's Western Australian gold assets.
  • Major Hammer shareholders support the Scheme.
  • A reciprocal break fee of A$730,000 is included.
  • A loan facility of up to $6 million from Austral to Hammer.
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.