en.Wedoany.com Reported - Australian resource company BOA Resources Ltd (ASX:BOA) is set to fully control the Neds Creek Copper Project in the Murchison region of Western Australia by acquiring Core Value Australia NL (CVA). The acquisition will give it access to the Thaduna and Green Dragon copper deposits, while consolidating ownership of the broader Neds Creek assets. Upon completion of the transaction, Sandfire Resources will become a significant shareholder in BOA.
BOA currently holds a 49% interest in Stanifer Pty Ltd, which owns the Neds Creek tenements, and has an option to acquire the remaining 51% interest. Through this transaction, BOA will not exercise that option separately but will instead indirectly acquire the remaining interest in Stanifer by purchasing CVA, bringing Thaduna and Green Dragon into its asset portfolio. CVA will acquire the Thaduna and Green Dragon copper deposits from Sandfire Resources. These deposits are located within granted mining leases and together hold JORC 2012 compliant mineral resources estimated at 5.3 million tonnes at a copper grade of 2.3%, containing 121,000 tonnes of copper.
BOA Chairman and Managing Director Cath Norman stated that this transaction is transformative for BOA, transitioning the company from holding an interest in a promising copper project to controlling a broader regional copper asset portfolio, including granted mining leases, drill-ready targets, and significant exploration upside. The resources from Thaduna and Green Dragon, containing 121,000 tonnes of copper, significantly enhance the company's copper asset portfolio. Meanwhile, BOA is advancing heritage surveys and drilling preparations for Ricci Lee, Rooneys, and other priority targets at Neds Creek, with drilling scheduled to commence in late July. Ricci Lee remains the top priority for resource definition drilling, located near Thaduna in the same geological setting, where historical drilling has repeatedly intersected ore-grade copper mineralisation. The company looks forward to Adrian Griffin joining the BOA board. Cath Norman believes that the combination of Thaduna and Green Dragon, along with a fully funded drilling program at high-priority Neds Creek targets, positions BOA with the potential to establish a meaningful copper business in a mature mining region of Western Australia.
This acquisition is the next step in BOA's copper strategy since entering the Murchison copper belt in late 2025. The company expects the transaction to strengthen its copper asset portfolio by adding advanced resources, providing a foundation for resource growth and potential future development, creating a larger regional exploration footprint, and increasing exposure to copper amid strong market demand. The expanded Neds Creek project area includes multiple drill-ready targets within mineralised corridors associated with the broader Thaduna and Green Dragon copper system.
In terms of transaction terms, subject to shareholder approval and completion, BOA will issue 127,624,587 fully paid ordinary shares and 76,919,407 options to CVA shareholders, with an exercise price of A$0.10 per share and a three-year term from the date of issue. Based on BOA's closing price of A$0.057 on 17 June 2026, the CVA consideration shares are valued at approximately A$7.27 million. BOA will also issue 27,800,000 shares to Sandfire as prepaid consideration. Sandfire will hold approximately 6.2% of BOA's post-transaction issued share capital. Following a mining decision for Thaduna and Green Dragon, a deferred consideration of A$2 million may be payable to Sandfire, in cash or BOA shares. Completion of the transaction remains subject to conditions including shareholder approval, third-party approvals, and CVA becoming the legal and beneficial owner of Thaduna and Green Dragon under the Sandfire acquisition agreement.
BOA plans to hold a shareholder meeting in August 2026, targeting completion of the transaction in September 2026. Immediate priorities include completing regulatory, ASX, and third-party approvals, finalising the CVA and Sandfire acquisition arrangements, completing heritage surveys, and launching the fully funded mid-2026 drilling program. Initial drilling will focus on Ricci Lee and Rooneys, while BOA will also integrate the Thaduna and Green Dragon datasets into its existing database and develop an exploration and resource growth plan covering the expanded copper asset portfolio. Upon completion of the transaction, CVA principal and experienced geologist Adrian Griffin will join the BOA board as a non-executive director.
BOA Resources is an ASX-listed exploration company focused on building a copper asset portfolio in the Murchison region of Western Australia, while also holding other mineral assets in Australia. Following the transaction, the company will control the expanded Neds Creek regional copper area, including the Thaduna and Green Dragon deposits, multiple granted and pending tenements, and drill-ready copper targets.
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