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OZZ Resources Limited has entered into a conditional share sale agreement to acquire full ownership of Sulphide Minerals Pty Ltd, thereby obtaining a 100% interest in the Bedaburra Project. This mineral exploration asset includes two granted exploration licences spanning approximately 43.54 square kilometres in Western Australia's Murchison region. On 5 June 2026, the company lodged a prospectus with ASIC aiming to raise up to $5 million to finance the acquisition, exploration activities, and ASX Listing Rules re-compliance. Pending regulatory approvals, successful equity raising, and shareholder endorsement (granted on 19 June 2026), OZZ anticipates re-quoting on the ASX as a junior exploration company focused on nickel, copper, cobalt, and other critical minerals by 24 August 2026.
Key Points
- OZZ Resources Limited (ASX:OZZ) executed a binding agreement on 26 May 2026 to acquire 100% of Sulphide Minerals Pty Ltd, securing full ownership of the Bedaburra Project.
- The Bedaburra Project comprises two exploration licences (E52/4179 and E52/4195) covering 43.54 square kilometres in Western Australia's Murchison region, prospective for nickel-cobalt and nickel-copper sulphide mineralisation.
- A prospectus was filed with ASIC on 5 June 2026 to raise up to $5 million for acquisition, exploration, and ASX re-compliance, with CPS Capital Group appointed as Lead Manager.
- Shareholders approved all acquisition-related resolutions at the General Meeting on 19 June 2026; ASX re-quotation is expected on 24 August 2026.
- The company plans a two-year staged exploration program including soil sampling, airborne and ground electromagnetic surveys, gravity and induced polarisation studies, and drilling campaigns.
- OZZ’s securities have been suspended since 20 June 2024; the ASX Listings Suitability Committee confirmed on 15 May 2026 that OZZ will meet listing requirements post-settlement.
Acquisition Agreement and Corporate Structure
On 26 May 2026, OZZ Resources entered into a conditional share sale agreement to acquire 100% of Sulphide Minerals Pty Ltd from its shareholders. Completion is subject to conditions precedent including shareholder approval and compliance with ASX Listing Rules Chapters 1 and 2. Upon settlement, OZZ will hold full legal and beneficial ownership of Sulphide Minerals and, indirectly, the Bedaburra Project. This transaction is structured to re-establish OZZ’s ASX presence as a mineral exploration company focused on critical minerals essential for the energy transition.
The acquisition marks a major recapitalisation following OZZ’s suspension from quotation since 20 June 2024. Combined with the equity raise, the transaction offers a pathway to reinstate trading, contingent on regulatory and shareholder approvals to ensure compliance and investor protection before fund deployment and acquisition completion.
Bedaburra Project Location and Tenure Details
The Bedaburra Nickel-Copper-Cobalt Project consists of two granted exploration licences, E52/4179 and E52/4195, each covering 21.77 square kilometres, totaling approximately 43.54 square kilometres across 14 mineral exploration blocks in the Murchison region of Western Australia. Registered to Sulphide Minerals Pty Ltd, these licences were granted on 15 May 2023 and expire on 14 May 2028. The Murchison region is a well-established mineral exploration area with a long history of nickel and copper prospecting and development.
Located within Western Australia’s established mining jurisdiction, the project benefits from existing infrastructure, regulatory frameworks, and geological expertise. The tenure offers OZZ a defined area for systematic exploration targeting multiple mineralisation styles, providing investors with clear tenure security and renewal pathways.
Mineralisation Styles and Geological Prospectivity
The Bedaburra Project is prospective for two main nickel mineralisation types: laterite-hosted nickel-cobalt mineralisation from weathered ultramafic rocks, and primary magmatic nickel-copper sulphide mineralisation linked to differentiated mafic-ultramafic intrusions and potential feeder structures. These distinct ore-forming processes provide multiple exploration vectors. Additionally, the project shows potential for cobalt, chromium, platinum group elements, and iron, broadening its economic mineral scope.
The geological setting supports exploration for critical minerals vital to global energy transition and battery technologies. Multiple mineralisation styles allow tailored exploration targeting various deposit geometries and depths, enhancing discovery potential within the tenure.
Historical Exploration Data and Drilling Results
Historical exploration includes about 111 shallow drillholes mainly completed by Conwest (Australia) NL, International Nickel Australia Limited (INAL/INCO), Western Mining Corporation, Helix Resources NL, Cliffs Asia Pacific Iron Ore, and Trafford Resources. The deepest hole, BH65, reached 103.6 metres. Notably, three of eight deeper holes targeting induced polarisation anomalies ended in sulphide mineralisation. BH62 intersected minor lode-type sulphides including pyrite, chalcopyrite, and nickeliferous pyrrhotite at approximately 89.17 metres, though the diamond core tail was unassayed and down-dip extensions remain untested.
This historical drilling provides valuable baseline data and exploration targets. The incomplete assay and untested down-dip extension at BH62 represent specific targets for OZZ’s planned exploration, reducing project risk by confirming prior mineralisation intersections.
Recent Soil Geochemistry Results and Anomaly Definition
Sulphide Minerals conducted an ultrafine-fraction soil geochemistry program during 2025–2026 on a 100m by 100m grid. Samples were analysed via aqua regia digestion using ICP-MS and ICP-OES for 67 elements at Labwest in Perth. Results revealed coherent multi-element nickel, copper, and cobalt anomalies coincident with historical geophysical anomalies.
This convergence of soil geochemistry, historical geophysics, and drilling data provides a robust framework for prioritising exploration targets. The systematic sampling with tight grid spacing and comprehensive multi-element analysis reflects modern best-practice exploration, enhancing targeting efficiency and drilling success probability.
Proposed Staged Exploration Program and Methodologies
Post-settlement, OZZ plans a two-year staged exploration program including infill ultrafine soil sampling, modern airborne and ground electromagnetic surveys, gravity and induced polarisation surveys, reconnaissance aircore and shallow reverse circulation drilling targeting laterite nickel-cobalt, and deeper reverse circulation and diamond drilling of untested coincident anomalies. A key focus is testing the down-dip extension of BH62 and integrating historical datasets into a unified exploration model.
This structured approach aims to progressively de-risk the project and optimise target definition before drilling. The multi-method exploration strategy and defined two-year timeline provide clear milestones for investors to track progress and results.
Equity Raise, Capital Raise Timetable, and Lead Manager Appointment
OZZ lodged a prospectus with ASIC on 5 June 2026 to raise up to $5 million for acquisition, exploration, and ASX re-compliance. CPS Capital Group Pty Ltd was appointed Lead Manager. The offer closes on 24 July 2026 at 5:00 pm WST, with shares scheduled for issue on 12 August 2026 and holding statements dispatched on 13 August 2026. Acquisition settlement is planned for 17 August 2026, with ASX re-quotation expected on 24 August 2026.
The $5 million raise covers transaction completion, exploration activities, and compliance costs. CPS Capital Group’s involvement ensures professional capital raising infrastructure, while the coordinated timetable reflects careful regulatory and transaction planning.
ASX Listing Rules Re-compliance and Quotation Timeline
OZZ’s securities have been suspended since 20 June 2024. On 15 May 2026, the ASX Listings Suitability Committee confirmed that OZZ’s post-settlement structure will comply with Listing Rules 1.1 condition 1 and 1.19. The company aims to re-comply with Chapters 1 and 2 of the ASX Listing Rules as a junior exploration entity focused on nickel, copper, cobalt, and critical minerals key to the energy transition. Suspension will remain until re-compliance is complete and ASX reinstates quotation. The anticipated re-quotation date is 24 August 2026.
This regulatory confirmation removes a major hurdle, aligning OZZ’s strategic focus with market and policy priorities. Investor attention will focus on the company’s successful re-quotation and market reception.
Maguires Gold Project and Scorpion Minerals Option Agreement
On 17 April 2026, OZZ shareholders approved a binding Option Agreement with Scorpion Minerals Limited (ASX:SCN) regarding the Maguires Gold Project and Old Prospect Gold Tenements. This enabled transaction progression, development advancement at Old Prospect, and alignment for accelerated project delivery. During the quarter, a Mining Licence Application (M20/568) was submitted over Old Prospect North and South deposits, covering Prospecting Licence P20/2318 (Maguires Reward) and adjacent application P20/2516 for infrastructure and expansion. This application is a key step toward development supporting planned open pit mining and infrastructure integration.
The Maguires Gold Project remains an active asset under OZZ’s portfolio through partnership with Scorpion Minerals. The Mining Licence Application advances production readiness, complementing the Bedaburra acquisition and providing multiple development and revenue pathways.
Leonora Projects and Exploration Status
OZZ’s portfolio includes Mt Davis and Pinnacle Well projects in Western Australia’s Leonora region. Mt Davis consists of two granted contiguous prospecting licence applications (P37/9552 and P37/9553) covering 349 hectares about 20 kilometres north of Leonora near the Goldfields Highway. Previous exploration by Kinematex Pty Ltd involved surface sampling and litho-geochemistry, with results announced on 16 July 2024. Soil sampling targeted mineralising structures, identifying an 800m by 800m anomalous corridor and a smaller anomaly to the north, though gold anomalism was subtle.
No significant on-ground exploration occurred during the quarter ended 30 June 2026. Existing soil results provide a basis for future work, but current focus is on the Bedaburra acquisition and capital raising. The Leonora projects remain part of OZZ’s portfolio in a monitoring phase pending operational restructuring.
