en.Wedoany.com Reported - Australian gold producer Catalyst Metals Limited (ASX code: CYL) exercised an option under an asset purchase agreement on June 1, 2026, to acquire the remaining tenements of Albright Metals Limited (ASX code: ABR) in the Bryah Basin for a total of A$2.2 million, through a combination of cash and shares. The transaction covers tenements participating in the Bryah Basin Manganese Joint Venture (BBMJV), and following this deal, Catalyst Metals will achieve full consolidation of Albright's tenements in the region.
Albright Metals Ltd is a company focused on the exploration of minerals including antimony, copper, gold, lithium, and manganese, with projects spanning Australia and Canada. The Bryah Basin tenements being divested are located approximately 100 to 150 kilometers north of the town of Meekatharra in Western Australia, within the Gascoyne region. The Bryah Basin is a significant metallogenic belt in Australia, hosting volcanic massive sulfide (VMS) copper-gold deposits and orogenic gold deposits. The region features world-class mines such as the historic Horseshoe Lights copper-gold mine, which operated until 1994, and the high-grade DeGrussa copper-gold mine discovered in 2009.
Under the original agreement reached in February 2026, Catalyst Metals had previously acquired the majority of the Bryah Basin tenements for A$1.8 million. This transaction involves the option terms stipulated in the agreement, enabling Catalyst Metals to acquire the remaining tenements participating in the joint venture. This deal allows Catalyst Metals to further consolidate its land holdings in the Bryah Basin, aligning with its long-term development strategy to expand its resource base in Western Australia's gold and copper belt.
Catalyst Metals Ltd is an Australian Securities Exchange-listed gold producer holding multiple projects in Western Australia and Victoria, including the Plutonic Gold Mine and the Henty Gold Mine, with an annual gold production of approximately 110,000 ounces. Albright Metals, founded in 2017 and headquartered in Leederville, Western Australia, focuses on exploring gold-antimony projects in New Brunswick, Canada, and copper-gold-manganese resources in Australia. Albright Metals will use the proceeds from this transaction to advance its flagship Golden Pike gold-antimony project in New Brunswick, Canada, and other exploration activities.
Following this transaction, all tenements of the Bryah Basin Manganese Joint Venture will be wholly owned by Catalyst Metals. Albright Metals stated that it will use the proceeds from this transaction to continue advancing its Canadian gold-antimony project and other exploration projects in Western Australia.
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