Ant Hill and Sunday Hill Manganese Projects of Auvex Resources Pty Ltd entered into an agreement to acquire Resource Development Group Limited (ASX:RDG) in a reverse merger transaction for AUD 30.4 million on March 12, 2020. MRL will transfer its Manganese Assets to RDG in return for MRL receiving scrip equivalent to a 75% shareholding in RDG. RDG through its wholly owned subsidiary Central Systems Pty Ltd and its interest in Mineral Solutions Australia Pty Ltd will retain all existing contracts continue to undertake those contracts as currently disclosed to the market. The parties have also agreed to enter into Services agreement, loan agreement and security agreements. The board of RDG will comprise of five Directors out of which three Directors will be nominated by MRL and one new independent Director. The transaction is subject to regulatory approval, approval by RDG shareholders, RDG having a cash balance of greater than AUD 10 million and holding assets with a net asset value greater than AUD 15 million on the completion date. The Directors of RDG recommend that the RDG shareholders vote in favor of the transaction. The transaction is expected to close by the end of the financial year. As of May 1, 2020, the transaction is expected to close on June 14, 2020. BDO Corporate Finance (WA) Pty Ltd acted independent expert to Resource Development Group in this transaction for a fee of AUD 50,000. Geoff Simpson and Jennifer Wyatt of ALLEN & OVERY acted as legal advisor to Mineral Resources Limited.

Ant Hill and Sunday Hill Manganese Projects of Auvex Resources Pty Ltd completed the acquisition of Resource Development Group Limited (ASX:RDG) in a reverse merger transaction on June 17, 2020. As a result of the transaction, Ant Hill and Sunday Hill Manganese Projects of Auvex Resources Pty Ltd has been issued with 1.9 billion fully paid ordinary shares of Resource Development Group Limited. Two of the Directors of Resource Development Group Limited being Gary Reid and Ivan Ruefli have resigned with immediate effect. Gary Reid will continue in his role as Director of Resource Development Group Limited's wholly owned subsidiary Central Systems Pty Ltd. Mike Grey, Mark Wilson and Paul Brown have been appointed by MRL as the replacement Non-Executive Directors and Andrew Ellison will remain the Company's Managing Director. The transaction was approved by the Resource Development Group Limited's shareholders on June 2, 2020.