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Maverick Minerals Australia Ltd (ASX:M96)

ALERT: Price-sensitive ASX Announcement for M96
Current share price for M96 : $0.009 0 (0%)+
Announcement
Release
1 Jul 2026 8:24AM
Price at Release
$0.009
Full Release
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Summary
Rincon Resources Limited has entered into a binding agreement with Maverick Minerals Australia Ltd to form a joint venture for the West Arunta Project. As part of this agreement, Rincon will divest 90% of its interest in Lyza Mining Pty Ltd to Maverick in exchange for an upfront payment and deferred consideration in shares, with Rincon retaining a 10% free-carried interest until a decision to mine is made. The deal includes an initial cash consideration and shares, with additional shares issued upon the completion of drilling programs by Maverick. This transaction allows Rincon to focus on its core projects while maintaining potential benefits from the West Arunta Project.
Key Points
  • Rincon divests 90% interest in West Arunta Project to Maverick
  • Maverick to issue shares and make cash payment as consideration
  • Rincon retains 10% free-carried interest until a decision to mine
  • Agreement includes $600,000 upfront and $500,000 in deferred shares
  • Joint venture formed between Maverick and Rincon
  • Rincon focuses on Telfer South Gold-Copper and Crackerbox Projects
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.