AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Astral acquires 100% of Maximus Resources
- Gold inventory reaches approximately 1.8 million ounces
- Expansion boosts Eastern Goldfields development potential
Astral Resources (ASX:AAR) has completed its acquisition of Maximus Resources (ASX:MXR), a strategic move that significantly enhances its gold project pipeline in Western Australia’s resource-rich Eastern Goldfields region. With this transaction, Astral has consolidated control over approximately 1.8 million ounces of gold resources, reinforcing its ambitions within the gold exploration and development sector.
The acquisition followed an off-market offer launched on February 3, where Astral proposed an all-scrip deal of 1 Astral share for every 2 Maximus shares. This represented an implied value of A$0.073 per Maximus share—a 61% premium—valuing the entire transaction at approximately A$31 million. Astral secured a 91.24% relevant interest by April 4, triggering the compulsory acquisition process. That process has now been completed, granting Astral full ownership of Maximus.
With the acquisition finalised, Maximus shares are set to be delisted from the ASX shortly. The integration brings together complementary gold assets, creating a larger, more diverse portfolio centred around the Mandilla and Feysville projects—both of which are located south of Kalgoorlie. The updated indicated resource at Mandilla recently rose by 49%, now exceeding one million ounces of contained gold. When combined with Feysville, the inventory totals approximately 1.62 million ounces.
The addition of Maximus’s Wattle Dam and the nearby 8500N paleochannel project further enhances Astral’s exposure to high-grade, shallow gold resources. The consolidated portfolio spans adjacent mining leases, offering greater development optionality and potential processing synergies.
A pre-feasibility study for the Mandilla project is expected this quarter, a key step in Astral’s broader strategy to advance de-risked assets toward development. The deal aligns with the company's long-term objective of consolidating gold projects into a unified development pipeline to improve operational efficiency and project delivery.
With this move, Astral strengthens its position within the evolving ASX200 landscape, as investors continue to assess growth-focused resource stocks with robust project pipelines. As the gold sector gains renewed interest amid global economic uncertainties, diversified miners with strong project foundations, such as Astral, are increasingly viewed as part of broader discussions on ASX dividend stocks due to their long-term value creation potential.
This consolidation marks a key milestone for Astral as it continues to transform into a more prominent player within Australia's dynamic resources sector.
