Astral Resources NL Acquires 19.99% Stake in Maximus Resources and Proposes Full Takeover.

Astral Resources NL has acquired a 19.99% stake in Maximus Resources Limited (ASX: MXR) through share swap agreements with Beacon Minerals Limited and Mr. Colin Petroulas. This acquisition is part of Astral's non-binding proposal to acquire all outstanding Maximus shares at 7.0 cents per share via an all-scrip, off-market takeover. The offer represents premiums of 56% to Maximus' last closing price, 61% to its 30-day VWAP, and 165% to its 12-month low, with an implied value of AU$91/oz based on Maximus’ JORC-compliant Mineral Resource estimates.

The companies have entered into an Exclusivity Deed, enabling Astral to negotiate binding terms until 31 January 2025. If successful, the combined entity will hold a Mineral Resources inventory of 1.8Moz and offer enhanced liquidity. Progression of the transaction remains subject to due diligence and board approvals, with no guarantee of completion.

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