Maritana Minerals (ASX:MRT) has entered into a dual-tenement transaction with Accelerate Resources (ASX:AX8), under which Maritana will acquire the Kanowna East tenure package while divesting the Balagundi package.
The cash consideration payable under each agreement is $60,000, which can be set off between the parties.
Accelerate will also receive shares in Maritana equal to the greater of 133,000 shares or shares valued at $200,000. Shares will be based on Maritana’s five-day volume-weighted average price prior to the execution of the Kanowna East sale agreement.
Each company will obtain a 1% net smelter return royalty on minerals extracted from the tenements for sale.
Maritana will also grant Accelerate its existing land use agreement for the applicants under the Marlinyu Ghoorlie Native Title Claim, along with a five-year right of first refusal on future toll treatment opportunities at Black Swan under the Balagundi sale agreement.
The completion of this transaction is expected in the June quarter 2026.
Maritana intends to begin integration planning for the newly acquired tenements, including a continued review of historical exploration data and the identification of priority targets contiguous with the company’s existing landholdings.
CEO Grant Haywood says the transaction is a reflection of Maritana’s “disciplined approach to portfolio management”.
“By acquiring the Kanowna East Project and divesting the Balagundi tenure, we are consolidating our landholdings around the Black Swan Processing Hub, while rationalising assets that are better suited to a party with the scale and intent to advance them,” Haywood says.
“Importantly, the right of first refusal we have retained over future toll treatment at Black Swan preserves exposure to a potential future ore source and revenue stream open for Maritana shareholders, should Balagundi progress to development.
“We consider this a sensible, value-accretive outcome for both companies.”
Accelerate CEO Luke Meter says the agreements will “scale Balagundi by approximately 80%”.
“The transaction adds $200,000 of Maritana shares onto our balance sheet, while the inclusion of a land use agreement removes land access risk, and the Black Swan mill toll-treatment facility provides a clear line of sight to low-capex production pathways,” Meter says.
“We’re now better positioned to unlock value in the heart of the Kalgoorlie goldfields with our ongoing exploration.”
Maritana Minerals is focused on becoming Australia’s next gold producer, anchored by its consolidated portfolio around the Black Swan Processing Hub.
The company was formerly known as Horizon Minerals before changing its name to Maritana as of 13 April 2026, as reported by Mining.com.au.
Write to Maddison Elliott at Mining.com.au
Images: Accelerate Resources
