PERTH: OZZ Resources Ltd has entered a binding agreement to acquire a 100% interest in two mineral exploration tenements in Western Australia’s Murchison region, a move aimed at securing critical minerals used in the global energy transition.
The Bedaburra Nickel-Copper-Cobalt Project spans about 44 square kilometers (17 square miles), approximately 115 kilometers (71 miles) northwest of the township of Meekatharra. The company plans to raise up to 5 million Australian dollars (about $3.3 million) through a public offer to fund exploration.
OZZ intends to re-comply with Chapters 1 and 2 of the ASX Listing Rules as a junior exploration company focused on nickel, copper, cobalt and other critical minerals. The company’s shares have been suspended from quotation since June 20, 2024, and the suspension will continue until OZZ meets listing requirements.
The project is considered prospective for two styles of nickel mineralization: laterite-hosted nickel-cobalt derived from weathered ultramafic rocks, and primary magmatic nickel-copper sulphide mineralization associated with differentiated intrusive architecture.
Historical exploration at Bedaburra dates to the late 1960s, with about 111 drill holes completed by previous holders including Conwest (Australia) NL, International Nickel Australia Ltd and Western Mining Corp. The deepest historical hole reached 103.6 meters (340 feet), and eight deeper holes targeting induced polarization anomalies averaged 73 meters (240 feet), with three ending in sulphide mineralization.
A systematic soil geochemistry program completed in 2025-2026 used ultrafine fraction sampling on a 100-meter grid. Results define coherent multi-element anomalies, according to the company.
The acquisition consideration totals A$1.15 million, comprising A$150,000 in cash and 25 million shares at a deemed issue price of A$0.04 each, subject to shareholder approval. CPS Capital Group Pty Ltd has been appointed lead manager for the public offer and will receive a 6% fee plus 10 million shares for introducing the acquisition.
Completion is subject to conditions including shareholder approval, regulatory approvals, a successful equity raise of at least A$4.5 million, and no material adverse effect on the project or company. An indicative timetable shows a shareholder meeting scheduled for June 19, 2026, with settlement and re-quotation targeted for July 31, 2026.
Malcolm Castle, a member of the Australasian Institute of Mining and Metallurgy, serves as the competent person for the exploration results. Castle said the geological setting, geochemical results and historical drilling collectively indicate the project remains prospective for both lateritic nickel-cobalt and deeper magmatic nickel-copper sulphide systems.
The directors said that following completion of the public offer, the company will have sufficient working capital to carry out its stated objectives but cautioned that an investment in OZZ is speculative. Investors are encouraged to review risk factors outlined in the prospectus once released.
The company’s shares are currently suspended from quotation, and the Australian Securities Exchange has absolute discretion in deciding whether to re-admit the company to the official list.
