In this week’s M&A Monday, mining companies gathered on the Australian Securities Exchange (ASX), led by a completed merger between MinRex Resources (ASX:MRR) and Electrum Discovery (TSX-V:ELY) on 13 April 2026.
MinRex has acquired 100% of Electrum’s shares to combine the companies’ portfolios, as reported by Mining.com.au.
The merged company now owns Electrum’s Tlamino Gold Project and Timok East Copper-Gold Project in Serbia, along with MinRex’s Sofala Gold Project in New South Wales.
Meanwhile, Great Northern Minerals (ASX:GNM) has entered a binding exploration lease and option agreement to acquire the Iron Butte Gold-Silver Project in Lander County, Nevada.
The company will lease the project for 10 years, with contingent annual payments. Great Northern will pay US$100,000 ($140,000) upon signing, US$120,000 on the first anniversary, US$140,000 on the second anniversary, US$160,000 on the third anniversary, and then US$180,000 on the fourth anniversary and all subsequent years.
Lease payments will end earlier if the company chooses to exercise the option to acquire the project for a total consideration of US$2.5 million.
During the lease term, Great Northern will be required to spend US$100,000 on exploration in the first year of the team, US$650,000 between year two and three, and US$1.5 million between years three and six of the term.
The company will also be required to make milestone payments, including US$250,000 on the publication of a Prefeasibility Study, US$100,000 on the publication of a Feasibility Study, and US$500,000 for reaching a production decision.
The vendor will be granted a net smelter return royalty of 3%, with the option of buying back 0.75% for US$1.5 million.
Great Northern will target a maiden inferred resource estimate in the near term, compliant with JORC reporting codes.
The JORC Code is a professional reporting standard used by mining companies for exploration results, mineral resources, and ore reserves, as reported by Mining.com.au.
The JORC Code is maintained by the Joint Ore Reserves Committee to ensure that information released to the market is accurate, balanced, and supported by appropriate technical expertise.
NT in WA
NT Minerals (ASX:NTM) has proposed to acquire privately held Slipstream Paynes Find, which includes the acquisition of the Endeavour Project in the Murchison region of Western Australia.
The acquisition holds a settlement consideration of $25,000 cash and $300,000 in shares, comprising 150 million shares at $0.02 each.
The company will also pay $300,000 in shares on the first anniversary of the term sheet execution, under the same conditions as the settlement payment, subject to shareholder approval.
An upcoming general meeting will seek the shareholder approval to issue performance rights in three tranches after reaching resource estimate milestones. This meeting will be held in or around April 2027.
No risk in Ti Tree expansion
Voltaic Strategic Resources (ASX:VSR) is wholly acquiring privately held Industrial Metals from Ground Risk, acquiring the exploration licence E09/2833.
The exploration licence is located immediately adjacent to the company’s Ti Tree Project in the Upper Gascoyne region of Western Australia.
Voltaic will pay a total consideration of $100,000 through the issuance of 2.5 million shares at $0.04 each.
The company will undertake a comprehensive review of the tenement to assess surface geochemistry and regional datasets for target generation ahead of a heritage agreement.
Voltaic describes this acquisition as low cost and script based, allowing enhanced exploration optionality.
Chairman Daniel Raihani says the proposed acquisition is a “logical and highly complementary addition” to the Ti Tree Project portfolio.
“The tenement strengthens our position in the broader Yinnetharra district, adjoining our existing landholding and immediately adjacent to Delta Lithium’s mining lease, in an area that has already demonstrated significant lithium, tantalum, and associated critical minerals prospectivity,” Raihani says.
“Importantly, this acquisition is consistent with our strategy of building a strategic land position in proven and emerging critical minerals corridors in Western Australia.
“We believe E09/2833 offers meaningful exploration upside and, subject to completion, will provide Voltaic with additional scale and optionality as we continue to assess and advance opportunities across the Ti Tree Project.”
Write to Maddison Elliott at Mining.com.au
Images: Great Northern Minerals & Voltaic Strategic Resources
