Astral Resources secures Mandilla gold project tenure via $9.05M deal

Astral Resources has entered into a $9.05 million agreement with WIN Metals to secure control over the tenure required for the development of its Mandilla gold project in Western Australia. The transaction is intended to provide Astral with “unfettered control” over the development footprint located approximately 70km south of Kalgoorlie.

Under the terms of the deal, Astral will acquire tenure and mineral rights, excluding lithium, across several mining leases and a miscellaneous licence. The agreement also includes nickel rights over M15/633 and mineral rights for the Eagles Nest gold deposit. In exchange, Astral will pay WIN $8.05 million plus GST upon completion, with an additional $1 million payable once the transfer of mining lease M15/96 is registered. Completion is expected by October 5.

WIN Metals will retain mining rights for the McEwen and McEwen Hangingwall nickel resources and will receive gold rights over specific leases including M15/99, M15/101, and M15/102. Astral managing director Marc Ducler stated that the deal removes a significant constraint on the project, which should improve permitting, approvals, and project financing as the definitive feasibility study progresses.