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Maverick Minerals Australia Ltd (ASX:M96)

ALERT: Price-sensitive ASX Announcement for M96
Current share price for M96 : $0.008 0.001 (14.29%)+
Announcement
Release
24 Aug 2026 8:02AM
Price at Release
$0.007
Full Release
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Summary
Maverick Minerals Australia Ltd has completed the acquisition of additional tenements in the West Arunta Region by acquiring a 90% share in Lyza Mining Pty Ltd. This acquisition, completed under a binding agreement with Rincon Resources Ltd, includes eight tenements deemed highly prospective for niobium, rare earths, and IOCG mineral deposits. The purchase complements Maverick's acquisition strategy, enhancing their portfolio with a focus on the Viper Project. The agreement includes issuing shares worth $500,000 and cash payments, with deferred considerations tied to drilling project milestones. A joint venture was formed, giving Maverick a 90% interest while Rincon holds 10%, with Maverick funding all activities until a mining decision is made.
Key Points
  • Maverick acquired 90% of Lyza Mining, holding eight tenements.
  • Acquisition complements Maverick's Viper Project.
  • Tenements are prospective for niobium, rare earths, IOCG deposits.
  • Consideration includes $100,000 cash and $500,000 in shares.
  • Deferred considerations of $500,000 tied to drilling milestones.
  • Joint venture formed with Maverick holding 90% interest.
  • Maverick to fund joint venture activities until mining decision.
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.