Mergers and acquisitions (M&A) deals were prevalent across resource companies on the Australian Securities Exchange (ASX) last week.
First Graphene (ASX:FGR) has entered a binding sale agreement to acquire all product lines, manufacturing equipment, and intellectual property of US-based MITO Material Solutions for a total consideration of $850,000.
The consideration comprises cash and stock payments, predominantly underpinned by a two-tranche allocation of FGR stock on achieving strict MITO product sales targets over a 24-month period.
The acquisition intends to expand First Graphene’s capability to functionalise graphite, graphene, and graphene oxide through the acquisition of MITO’s E-GO, LIGRA, OMEGA and DELTA product lines.
These product lines cover a suite of thermoset, thermoplastic, composite materials, coatings, liquids, resins, and nanomaterial additives.
First Graphene CEO Michael Bell says the acquisition of MITO represents a “transformational push into the US market for First Graphene”, expanding the company’s product portfolio further into graphene oxide and functionalised graphene technologies.
“Combined with our existing PureGRAPH technologies, this acquisition creates one of the broadest and most advanced graphene product portfolios globally,” Bell says.
“MITO has established commercial traction with premium US customers and built a substantial pipeline of opportunities across sporting goods, industrial composites, and advanced materials.
“Importantly, this acquisition provides First Graphene with a direct operational and commercial launch platform into the US, enabling the business to aggressively accelerate revenue growth and customer adoption in the world’s largest advanced materials and defence market.”
As reported by Mining.com.au in April 2026, the company entered a binding asset purchase agreement to acquire all manufacturing, intellectual property, and development assets from Ionic Industries and its subsidiary.
The said acquisition provides First Graphene with advanced graphene-coating technologies with proven commercial opportunities.
First Graphene is focused on the development of advanced graphitic materials and has a primary manufacturing base in Western Australia.
Wrapping up acquisitions
Arika Resources (ASX:ARI) has completed its acquisition of the Yundamindra and Kookynie gold projects in Western Australia.
The company secured the remaining 20% stake in the projects last week, bringing the total consideration of the acquisition to $500,000 cash and the issuance of 70.8 million shares.
Around 58.8 million shares will be subject to escrow, with 25% released every three months over a 12-month period.
The remaining 12 million shares will be held in escrow for five years, which will cease earlier if milestone conditions are met.
Managing Director Justin Barton says the completion of this acquisition is a “transformational milestone” for Arika, with the company establishing a fully-owned gold portfolio in “one of Western Australia’s most sought-after gold districts”.
“Full ownership of Yundamindra and Kookynie gives us complete control over exploration and development activities across these highly prospective projects and positions the company to rapidly unlock value through aggressive exploration and resource growth,” Barton says.
“The exceptional drilling results generated over the past 12 months continue to highlight the outstanding potential of both projects, with significant upside remaining at depth and along strike across multiple target areas.
“With active drilling programs underway and a strong pipeline of exploration news flow ahead, we believe Arika is exceptionally well positioned for a strong period of growth and value creation.”
Arika Resources is focused on the discovery and development of high-quality gold assets in Western Australia.
Strengthening Adzopé
Desert Metals (ASX:DM1) has acquired 100% of two Agboville permits in the Birimian greenstone belt in southeastern Côte d’Ivoire.
Collectively spanning 598km2, the two permits are prospective for gold and lithium mineralisation.
The addition of the Agboville permits brings Desert Metals’ Adzopé Project to a total of three permits, covering a total area of 826km2.
The consideration for the permits will be paid in shares, valued at around $145,000 at $0.008 per share.
The agreement involves Desert Metals acquiring 100% of the issued capital of Ivorlinvest, an Australian holding company that owns the permits through its Ivorian subsidiary, Ivoire Lithium Resources.
The transaction replaces an existing joint venture agreement, which entitled Desert Metals the right to earn 85% of the projects by incurring $250,000 in exploration expenditure over three years.
Managing Director Stephen Ross says the full acquisition of the Agboville permits is a “far more efficient outcome for shareholders than the original earn-in joint venture” as it enables them to secure full ownership now.
It also puts the company in a position to explore, partner, or monetise the enlarged project package with “maximum flexibility”.
“These permits sit alongside our Adzopé gold project, and consolidating them into a single three-permit, 826km² package gives Desert Metals a multicommodity ground position in one of the most prospective parts of southeastern Côte d’Ivoire,” Ross says.
Desert Metals is a mineral explorer and developer focused on assets in Côte d’Ivoire.
Write to Maddison Elliott at Mining.com.au
Images: MITO Material Solutions, Arika Resources & Desert Metals
