Business · Companies · 5 hrs ago
Ajax gets more time to pursue Nueva Celti copper project acquisition
Western Metallica has extended Ajax Resources’ exclusive option period to November 30, 2026.
The option gives Ajax the exclusive right to acquire all of Western Metallica’s Spanish subsidiary, which owns the Nueva Celti copper project in Andalusia, Spain.
Western Metallica is a mining company listed on the TSX Venture Exchange, while Ajax is listed on the Aquis Stock Exchange.
The proposed deal is structured as an acquisition of the subsidiary’s full share capital, rather than a direct purchase of the project.
The TSX Venture Exchange has given conditional approval for the transaction, but the deal still needs to meet closing conditions, including shareholder approval.
The extended exclusivity gives Ajax more time to pursue the acquisition, with November 30 as the new deadline for the option period.
Western Metallica Resources extended Ajax Resources’ exclusivity period for a proposed acquisition involving the Nueva Celti Copper Project in Spain.
The exclusivity period now runs until November 30, 2026.
Ajax has an exclusive and irrevocable option to acquire 100% of Western Metallica’s Spanish subsidiary, which owns the project.
Western Metallica said it had received conditional approval from the TSXV, subject to closing conditions including shareholder approval.
- Who
- Western Metallica Resources extended the exclusivity period with Ajax Resources PLC.
- What
- Ajax has an exclusive and irrevocable option to acquire 100% of Western Metallica’s Spanish subsidiary, which owns the Nueva Celti Copper Project.
- When
- The extension was announced on October 29, 2026; the exclusivity period runs until November 30, 2026.
- Where
- The project is in Andalusia, Spain.
- Why
- Not stated
This story does not have two clearly opposing sides.
Western Metallica issued a news release about the option agreement, according to the October announcement.
Western Metallica issued another news release about the agreement, according to the October announcement.
Western Metallica announced that the exclusivity period had been extended.
The extended exclusivity period is set to end.
- Exclusivity deadline
- November 30, 2026
- Ajax option
- Acquire 100% of Western Metallica, S.L.
- Project
- Nueva Celti Copper Project
- Project location
- Andalusia, Spain
- TSXV approval
- Conditional approval received, subject to closing conditions including shareholder approval