Octava Minerals (ASX:OCT) has completed the acquisition of the Byro Critical Minerals Project in Western Australia following shareholder approval at a recent general meeting.
The company has issued all consideration securities related to the acquisition of the project, which will be held in escrow for one year. This comprises 8.51 million ordinary shares and 2 million performance rights.
The performance rights will expire on 2 April 2029. Performance rights will vest upon the return of a Scoping Study or equivalent high-level study, conducted by an independent consultant.
Octava held its general meeting on 25 March 2026.
The Byro Project is prospective for an accumulation of critical minerals, including rare earth elements, lithium, vanadium, nickel, manganese, and zinc in a black shale horizon.
Ahead of completing the acquisition, Octava began its maiden exploration campaign at the project in late January, with 1,110m of drilling to provide additional material for bioleaching test work and a basis for an exploration target, as reported by Mining.com.au.
Octava Minerals is a Western Australia-based explorer focused on targeting copper, base metals, and rare earths.
Write to Maddison Elliott at Mining.com.au
Images: Octava Minerals
