Metal Bank Limited (ASX: MBK) (‘MBK’ or ‘The Company’) announced on September 10, 2025 that it signed a non-binding Termblad (Termblad) with Hastings Technology Metals Ltd (has) (has) (has) (has) (has) of the Gold-Activa of the Gold-Activa van de Gold-Activa van de Gold-Activa van de Gold-Activa Binding documentation Coduction) (Binding documentation and other conditions, and other conditions. For the Kingsley and Homestead deposits at the Livingstone project, which promotes the West -Australian -target gold strategy to expand the WA Gold portfolio of MBK and go to production.
- MBK has completed its due diligence for the acquisition of the HAS -Gouden Assets
- Has completed a Heritage survey at the Seven Leaders Prospect and all other approvals are present to start drilling
- The seven leaders drilling program starts on September 22, 2025
- Drilling is aimed at the Seven Leaders project and will include geotechnical drilling for use in pit design
- Has set $ 500K aside to use in promoting the whiteheads project, while the MBK acquisition continues through the regulatory phases
MBK has now completed its due diligence and the preparation of binding documentation and other documents needed for shareholders and other approvals continues.
Under the proposed acquisition, MBK is to acquire the following, has gold assets:
- Great Western Gold PTY LTD (GWG), the holder of a 75% interest in the Whiteheads Gold Project JV -rental homes and other rental properties 100% in the hands of GWG, with ~ 380SQKM located approximately 80 km NE of Kalgoorlie (Whiteheads Project);
- Ark Gold PTY LTD (ARK), the holder of the Ark Gold project, consisting of two exploratory licenses that are located. 40 km southeast of Has’ Yangibana Project 250 km northeast of Carnarvon in West -Australia (Ark Project); And
- The Gold Project of Darcy consisting of 3 exploratory licenses with an area of ~ 100 m² KMSITUED In addition to has’ Brockman Niobium and Heavy Rare Earths Project in the Theast Kimberley region in West -Australia (Darcy Project).
*The proposed acquisition is subject to a satisfactory completion of mutual due diligence, signing binding documentation, MBK shareholders approval under listing rule 7.1 and other necessary approvals, including ASX review in accordance with the Lijstestregel 11.1.
A summary of the agreed conditions for the proposed acquisition is set out in the ASX release of MBK of 10 September 2025 “MBK Executive WA Gold -Strategy”.
HAS continues to promote the whiteheads project before completing the proposed acquisition. Has advised that it has now filled a first heritage study with the Kakarra people in the prospect of Sever Leaders, which has confirmed that there are no heritage sites within the first drill area. HAS has also confirmed that all other necessary permits and approvals are present and drilling will start on September 22 for a first source with seven leaders and also intends to make early production.
The initial drilling plan consists of C.1.500 m RC -drill to confirm historical drilling data and a geotechnical diamond core hole to ensure that adequate geotechnical data is available to design and implement the start well.
The drilling program, including the diamond hole, takes approximately. 2 weeks to complete. After completion of the drilling and the subsequent borehole provisions, it is planning to announce a first source for the Seven Leaders project, to continue to the application and submit mining rent and submit the mining proposal.
MBK’s chairman Ines Scotland noted: “Has the full tribe of the work ahead in promoting the Whiteheads Gold project with the $ 500K of funds reserved for this purpose. Tim Gilbert, who will be MBK’s CEO after completing the transaction is an experienced mine engineer and manages the approvals and upcoming drill program.
Click here for the full ASX release
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