Minerals 260, an Australian mining company, announced its plan to acquire the Bullabulling gold project in Western Australia from Zijin Mining for A$166.5 million. The acquisition will be funded through an equity raising and is expected to transform the company into a substantial player in the gold sector. Minerals 260 plans to fast-track development at Bullabulling, capitalizing on the current high gold price environment and aiming to define a maiden reserve.
it will acquire the Bullabulling gold project in Western Australia from Chinese diversified major Zijin Mining in a A$166.5 million cash and shares deal.
“We believe that this opportunity, or this project, will deliver for us, and there’s no reason why we can’t build a substantial company,” he said during a conference call on Tuesday. “We’ve done the deepest due diligence of my career to ensure the resource stacks up,” Minerals 260 managing director Luke McFadyen, formerly of OZ Minerals, said.
Studies are set to commence by September 2025, with a goal to define a maiden reserve in the north, where 89% of ounces are in the indicated category.
GOLD ACQUISITION MINERALS 260 BULLABULLING ZIJIN MINING AUSTRALIA
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