Metals Australia Ltd (ASX:MLS) signed a Binding agreement to acquire Nepean South Nickel Project from Auroch Minerals Limited (ASX:AOU) and GoldFellas Pty Ltd for AUD 0.1 million on March 3, 2021. As per the transaction, consideration is payable for cash payment of AUD 0.03 million to be paid within five business days from the Company completing its due diligence investigations to its absolute satisfaction and Metals Australia Ltd will issue ordinary shares equivalent of AUD 0.075, at a deemed issue price equal to the higher of AUD 0.002 or the 5-day VWAP of the Company immediately prior to the date on which the Share Consideration is proposed to be issued. The Share Consideration shall be escrowed for 6 months from the date of issue. The transaction is subject to consummation of due diligence investigation and is expected to complete on or about 5 March 2021.

Metals Australia Ltd (ASX:MLS) completed the acquisition of Nepean South Nickel Project from Auroch Minerals Limited (ASX:AOU) and GoldFellas Pty Ltd on April 9, 2021.