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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 8:22AM
Price at Release
$0.009
Full Release
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Summary
Maverick Minerals Australia Ltd announced the acquisition of 90% of Lyza Mining Pty Ltd from Rincon Resources Ltd, which includes eight tenements in the West Arunta region of Western Australia. This acquisition is expected to complement Maverick’s Viper Project, enhancing their exploration potential for niobium, rare earths, and IOCG deposits. The transaction involves an initial payment of $600,000, split between cash and Maverick shares, followed by deferred considerations linked to the completion of drilling programs. The agreement also includes forming a joint venture where Maverick will hold a 90% interest, with Rincon holding 10%, free carried until a mining decision is made. The acquisition is subject to several conditions including due diligence and regulatory approvals.
Key Points
  • Maverick acquires 90% of Lyza Mining from Rincon Resources.
  • Eight tenements in West Arunta region acquired.
  • Enhances Viper Project's potential for niobium, rare earths, and IOCG deposits.
  • $600,000 initial consideration with additional deferred payments.
  • Joint venture formation with Maverick holding 90% interest.
  • Acquisition subject to due diligence and regulatory approvals.
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.