SYDNEY: Moonlight Resources Ltd., a 44.7% owned entity of Lithium Plus Minerals Ltd. (ASX: LPM), has agreed to acquire the Clermont Gold Project in Queensland from Diatreme Resources Ltd. (ASX: DRX), positioning itself for an initial public offering on the Australian Securities Exchange.
The A$3.5 million transaction includes A$3.25 million in Moonlight scrip and A$250,000 in cash, contingent on Moonlight’s successful ASX listing. The acquisition adds an advanced gold asset to Moonlight’s portfolio, which already includes rare earth and uranium tenements across the Northern Territory, New South Wales, and Western Australia.
“This is a value-accretive structure for LPM shareholders, offering direct exposure to gold upside while maintaining our lithium development focus,” said Dr. Bin Guo, executive chairman of Lithium Plus.
Moonlight has submitted an application for in-principle advice from the ASX and is preparing a prospectus targeting a minimum A$5 million raise. Upon listing, Diatreme is expected to hold up to 19.9% of Moonlight and will have the right to appoint a board nominee.
The Clermont Project, located in a proven gold district, is expected to deliver near-term mineral resource delineation. Moonlight’s broader exploration portfolio spans over 5,200 km² and includes drill-ready targets for critical minerals essential to the energy transition.
The transaction remains subject to regulatory approvals, due diligence, and ASX listing conditions.