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Highlights
- Minerals 260 expands Bullabulling footprint to 570km²
- Option deal includes 26 tenements near Coolgardie, WA
- Belararox shifts focus to copper projects overseas
Minerals 260 (ASX:MI6) has taken a significant step to bolster its gold exploration efforts in Western Australia by entering into an option agreement to acquire 26 tenements from Belararox (ASX:BRX). These tenements, located near Coolgardie, lie adjacent to Minerals 260’s existing Bullabulling Gold Project and are expected to significantly enhance its regional exploration and development strategy.
The agreement grants Minerals 260 the exclusive right to acquire the tenements over a two-year period. An upfront payment of A$150,000 has been agreed upon, with a further A$600,000 to be paid in either cash or shares before the end of the option term. If settled in shares, the issue price will be determined based on the 10-day volume-weighted average price (VWAP) leading up to the date of payment.
The tenements cover approximately 50 square kilometres and, once combined with the existing Bullabulling holdings, will expand the total project area to 570km². The strategic expansion aligns with Minerals 260’s objective of becoming a mid-tier gold producer, supported by systematic exploration of promising gold targets across the enlarged land package.
Managing Director Luke McFadyen noted the company's rapid progress since acquiring Bullabulling, highlighting how this agreement further reinforces its long-term plans for value generation through mineral development in the WA goldfields.
This acquisition comes as ASX-listed mining and resource companies continue to gain attention amid the broader performance of the ASX200, where investor sentiment remains strong around gold and battery metal plays. The ASX200 index serves as a benchmark for the Australian equities market and often reflects the broader economic outlook and demand for natural resources.
On the other side of the agreement, Belararox is reorienting its strategic focus toward international opportunities, specifically its copper exploration projects—the TMT Copper Project in Argentina and the Kalahari Copper Belt Project in Botswana. The company is streamlining its Australian footprint to concentrate resources where it anticipates the highest impact. Assay results from recent drilling in Argentina are still pending and could provide further insight into project potential.
As global demand for metals critical to technology and renewable energy accelerates, investors in the resource sector often explore opportunities across ASX dividend stocks to balance growth and income strategies. Moves like the Minerals 260 and Belararox transaction highlight how companies are reshaping portfolios to meet evolving market demand.
