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Orange Minerals NL (ASX:OMX)

ALERT: Price-sensitive ASX Announcement for OMX
Current share price for OMX : $0.064 0.008 (14.29%)+
Announcement
Release
1 Jun 2026 8:20AM
Price at Release
$0.056
Full Release
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Summary
Orange Minerals NL announced the divestment of its 51% interest in the Calarie Project to Adavale Resources Limited. As part of the transaction, Orange will receive 7,905,000 shares in Adavale, along with options for potential future exercises. This move is part of Orange's strategy to streamline its asset portfolio and focus on its primary projects. The transaction still requires regulatory and shareholder approvals. The company maintains some exposure to the project's potential benefits through its new equity interest in Adavale.
Key Points
  • Orange Minerals NL has entered into an agreement to divest its 51% interest in the Calarie Project.
  • The divestment is to Adavale Resources Limited.
  • Orange Minerals will receive 7,905,000 fully paid ordinary shares in Adavale.
  • They will also receive unlisted options exercisable at $0.10 and $0.20 by 31 December 2029.
  • The divestment aligns with OMX’s strategy to rationalise its asset portfolio focusing on its core projects.
  • OMX retains exposure to the Calarie Project through its equity in Adavale.
  • The transaction requires several approvals, including Adavale shareholder approval.
  • The Board of Orange Minerals NL views this as a positive outcome for shareholders.
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.