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Octava Minerals Limited (ASX:OCT)

ALERT: Price-sensitive ASX Announcement for OCT
Current share price for OCT : $0.022 -0.013 (-37.14%)+
Announcement
Release
7 Apr 2026 2:15PM
Price at Release
$0.035
Full Release
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Summary
Octava Minerals Limited announced the completion of the acquisition of 100% of the Byro Critical Minerals Project in Western Australia following shareholder approval. As part of the transaction, the company issued 8,506,413 ordinary shares and 2,000,000 performance rights to the vendors, all subject to a 12-month escrow period. The performance rights will expire on April 2, 2029, and will vest based on the completion of a scoping study over the Byro Project. The Byro Project is noted for its significant deposits of critical minerals such as rare earth elements (REEs), lithium, and other valuable metals, with encouraging recovery results from bioleaching tests conducted by CSIRO and BiotaTec. Octava aims to optimize and upscale the recovery process, keeping stakeholders informed of ongoing progress.
Key Points
  • Completion of Byro Transaction
  • Acquisition of 100% of Byro Project
  • Issuance of 8,506,413 ordinary shares and 2,000,000 performance rights
  • Shares and rights subject to 12-month escrow
  • Performance rights expire on April 2, 2029
  • Byro Project contains critical minerals like REEs and lithium
  • Successful bioleaching tests by CSIRO and BiotaTec
  • Focus on optimizing and upscaling metal recovery process
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.