Macro Metals Satisfies Drilling Approvals Condition for Agbaja Iron Ore Project Sale

Manish Choudhary

06 November 2026 04:04 PM AEDT

Macro Metals Satisfies Drilling Approvals Condition for Agbaja Iron Ore Project Sale

Image Source: Krish Capital Pty Ltd

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Macro Metals Limited (ASX:M4M) has advised that the Drilling Approvals condition under its Binding Share Purchase Agreement for the sale of the Agbaja Iron Ore Project in Nigeria has been received, removing a potential trigger for the transaction's completion to be delayed beyond 7 December 2026.

Key Points

Drilling Approvals condition has been received by the Sellers under the Binding Share Purchase Agreement for the Agbaja Iron Ore Project, Nigeria
Receipt of the Drilling Approvals removes a potential trigger for Completion to be delayed beyond 7 December 2026
The sale is to RSIN.SG Pte. Ltd, as previously disclosed in the company's 2 November 2026 release
The company said it will continue to update the market as remaining matters requiring resolution prior to Completion are satisfied

Drilling Approvals Condition Under Agbaja Sale Agreement

Macro Metals Limited disclosed on 6 November 2026 that the Drilling Approvals referred to in its earlier Binding Share Purchase Agreement announcement have been received by the Sellers. The company referenced its release dated 2 November 2026 in connection with the Binding Share Purchase Agreement for the sale of the Agbaja Project in Nigeria to RSIN.SG Pte. Ltd. The filing states that receipt of these approvals removes a potential trigger that could have caused Completion to be delayed beyond 7 December 2026. The announcement was authorised for release by the Board of Directors.

Completion Timetable for Agbaja Project Transaction

According to the filing, the scheduled Completion date for the sale of the Agbaja Iron Ore Project is 7 December 2026. The satisfaction of the Drilling Approvals condition eliminates one potential cause of delay to that date. The company stated it will continue to update the market as the remaining matters requiring resolution prior to Completion are satisfied, indicating that additional conditions may still be outstanding under the terms of the Binding Share Purchase Agreement with RSIN.SG Pte. Ltd.

Macro Metals Company Overview

Macro Metals Limited describes itself as a diversified exploration, project development, mining and mining services company. The company holds a portfolio of iron ore, manganese and construction material assets, which it is advancing through targeted exploration and project development programs. Through its wholly owned subsidiary, Macro Mining Services Pty Ltd, the company provides mining services across multiple commodities, including mining, crushing and screening, processing, haulage, materials handling and rehabilitation. The company is headquartered in West Perth, Western Australia.

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