CuFe Ltd said it has entered into a binding conditional share sale agreement with Gold Valley Investment and Horseshoe Manganese to acquire all issued shares in Gecko Mining Company. CuFe said the transaction would consolidate its existing 55% project interest with Gecko's 45% interest.
The consideration is 1.6 billion new CuFe ordinary shares. Assuming completion, Gold Valley and its associates are expected to hold about 53% of CuFe's issued capital on an undiluted basis, subject to a voting restriction on holdings above 20% for the period set out in the voting restriction deed.
Completion remains subject to conditions including shareholder approvals and CuFe being satisfied with due diligence. The company has outlined an indicative January 2027 completion timetable, while stating that the timetable may change.
CuFe said the Tennant Creek project has a JORC 2012 mineral resource of 23.5 million tonnes at 1.73% copper and 0.72 grams per tonne gold, containing 405,000 tonnes of copper and 544,000 ounces of gold. The company also said an RC and diamond drilling program began in October 2026, with initial assay results expected in early December 2026.
Source: Download CUF official ASX announcement, 2026-10-20.
Location map from CuFe's ASX announcement dated 20 October 2026.