12 stories mentioning ASX:AR1Updated 23d ago
Every FINWIRES story that references ASX:AR1, newest first.
Austral Resources Australia (ASX:AR1) appointed Matthew Beattie as chief financial officer, effective Monday, according to a same-day filing with the Australian bourse.Beattie succeeds Angus Peterson, who will transition to general manager of finance and treasury, per the filing.Beattie most recently served as CFO at Anson Resources (ASX:ASN), the filing added.
Austral Resources Australia (ASX:AR1) will acquire all of the issued securities in Hammer Metals (ASX:HMX) via a scheme of arrangement for a consideration of 1.2903 Austral shares for each Hammer share under a binding scheme implementation deed, according to separate ASX filings on Tuesday.Larvotto Resources (ASX:LRV) confirmed it will not exercise its matching right to submit a counterproposal to the Austral offer.The board of Hammer, which represents 7% of Hammer shares, unanimously recommends that Hammer shareholders vote in favor of the scheme, subject to no superior proposal and the independent expert concluding that the scheme is in the best interests of Hammer shareholders.Hammer shareholders are expected to own around 31.1% of the merged entity following implementation of the scheme.Hammer's Western Australian gold assets currently held in Carnegie Exploration, including the Bronzewing South, Orelia North, and Mt Sefton gold projects, as well as other associated assets, will be de-merged via a capital reduction and in-specie share distribution to Hammer shareholders. The shareholders will own Carnegie Exploration or any such other entity incorporated for the purposes of undertaking the demerger.Austral and Hammer entered into a binding loan agreement for an unsecured loan facility of up to AU$6 million to support Hammer through to scheme implementation.Austral's shares fell over 8% in recent trading on Tuesday, while those of Hammer fell over 1%.
Larvotto Resources (ASX:LRV) decided not to submit a counterproposal to match a competing buyout proposal made by Austral Resources (ASX:AR1) for Hammer Metals (ASX:HMX), opting not to exercise its rights under their scheme implementation deed dated June 11, according to a Monday filing with the Australian bourse.The board concluded that the terms required to match the proposal would not meet the value and return thresholds set for growth opportunities in the company's strategic plan, the filing said.Termination of the scheme implementation deed will result in the break fee of about AU$550,000 payable to the company as well as repayment of the outstanding amount of the loan provided by the company to Hammer, per the filing.Larvotto Resources shares rose 6% in morning trade Monday, while Austral Resources shares fell 1%.
Austral Resources Australia (ASX:AR1) secured a AU$15 million investment from the QIC Queensland Critical Minerals Fund to support a stage two expansion for its Rocklands processing facility in Queensland, according to a Friday filing with the Australian bourse.The investment is structured as a royalty financing arrangement under which Austral will pay a royalty on gross revenue from production at the Rocklands facility.The company will pay a 0.8% royalty for each quarter starting with the first 200,000 tonnes of contained copper produced. It will pay a 0.3% royalty for each subsequent quarter until the next 200,000 tonnes of contained copper has been produced. The royalty will cease thereafter.The stage two expansion study will assess expanding Rocklands' processing capacity from 3 million tonnes per annum to about 4.5 million to 6 million tonnes per annum, "with the upper end likely to be provisioned for future optionality," the company said.
Austral Resources Australia (ASX:AR1) said ongoing drilling identified a possible second, parallel copper-gold lode around 300 meters south of the Snow Queen prospect at the Cameron River project in Queensland, according to a Thursday Australian bourse filing.Drilling intersected 15 meters at 1.2% grade of copper and 0.24 grams per tonne grade of gold from 60 meters on the Santa Maria Trend, the company said, adding that the intersection is interpreted to represent a possible second copper-gold lode. Further drilling is required to confirm continuity and geometry.The company's shares jumped nearly 7% in recent trading on Thursday.
Austral Resources Australia Ltd (ASX:AR1) said a replacement agglomeration drum arrived onsite at its Mt Kelly Copper Processing Facility in Queensland and will be installed over the coming days, according to a Wednesday Australian bourse filing.The acquisition of the new drum was approved by the Austral board in late 2025.The existing agglomeration drum has processed more than 22 million tonnes of ore and contributed to the production of over 155,000 tonnes of LME grade A copper cathode, the company said.The company's shares rose past 3% in recent trading on Wednesday.
Austral Resources Australia (ASX:AR1) confirmed that the company executed documentation with the Anthill project agreement (APA) participants, Glencore and Secover, to terminate its obligations under the APA upon completion, according to a Tuesday filing with the Australian bourse.The APA will settle at a value of nearly AU$52 million, comprising a cash payment of AU$37.6 million and the issue of 159.8 million shares, equivalent to AU$14.4 million, at AU$0.09 apiece, the filing said.Completion of settlement is anticipated by the end of the month.The participants also agreed to a full and final release of the company to all current and future claims and their security over the company's assets in relation to the APA, per the filing.Austral Resources Australia shares fell 2% in midday trade Tuesday.
Austral Resources Australia (ASX:AR1) confirmed the presence of a large mineral system during maiden drilling at the Canyon prospect, within its Mt Kelly district exploration portfolio in Queensland, according to a Friday filing with the Australian bourse.Drilling intersected 24 meters at 1.03% copper, including 14 meters at 1.6% copper, 57 meters at 0.44% copper, and 29 meters at 0.36% copper, with mineralization open in multiple directions, the filing said.The company will undertake follow-up drilling to define the dimensions of the mineral system and higher-grade zones, per the filing.Shares fell 6% in morning trade on Friday.
Austral Resources (ASX:AR1) said all major workstreams for the refurbishment and restart of its Rocklands Copper Project in Queensland are progressing in accordance with its planned schedule and budget, according to a Thursday Australian bourse filing.The company said an unused 4.75-megawatt SAG mill was secured and purchased, with delivery to the site planned by late July, while existing ball milling, flotation, and concentrate handling infrastructure were confirmed suitable for the planned 3 million tonne per year processing capacity.GR Engineering Services (ASX:GNG) was appointed to complete engineering design and construction of front-end modifications, with front-end engineering design on track for completion in July, the filing added.A metallurgical test work program is advancing using confirmatory drill core from Rocklands, while a western operations mining campaign is underway at Flying Horse and Mt Clarke, initially providing oxide feed to Mt Kelly while exposing future sulphide feed for Rocklands, it added.The company's shares fell 4% in recent Thursday trade.
Austral Resources (ASX:AR1) said it has received final gold and silver assays from the Snow Queen prospect of its Cameron River Project in Queensland, according to a Wednesday Australian bourse filing.The results were up to 10 meters at 7.5% copper, 9.3 grams per tonne (g/t) silver, and 0.3 g/t gold from 35 meters, including four meters at 16% copper, 16.2 g/t silver, and 0.5 g/t gold from 38 meters."We look forward to further assay results and follow-up drilling as exploration activities continue across the Cameron River Project," said Chief Operating Officer Shane O'Connell.
Austral Resources Australia (ASX:AR1) said initial drilling at the Snow Queen prospect, part of the Cameron River project in Queensland, encountered a high-grade copper intersection, according to a Wednesday Australian bourse filing.This included an intercept of 10 meters at 7.5% grade of copper from 35 meters, confirming the presence of high-grade mineralization, per the filing.The company's shares rose past 9% in recent trading on Wednesday.
Austral Resources Australia (ASX:AR1) said it has completed the settlement of Lady Loretta, after receiving $40 million from Glencore under the transaction terms, according to a Thursday Australian bourse filing.The company said about AU$14.4 million of the proceeds have been applied to cash back the estimated rehabilitation bond, with Austral assuming progressive rehabilitation obligations.Under the transaction terms, Austral will pay Glencore a 2.5% net smelter return royalty on all copper oxide and sulphide production from the Lady Loretta tenements, along with an offtake agreement for all copper products derived from the tenements, the filing added.The Lady Annie expansion, known as Annie Deeps, is to be activated with drilling commencing in the third quarter, while a strategic pit wall cutback to grow the company's ore supply pipeline will commence in the second quarter, the filing added.The cash proceeds from the settlement move Austral to a debt-free position, strengthening its balance sheet, it added.
