Narryer Metals Limited (ASX:NYM) has disclosed an acquisition of the Redhill Copper project, a high-grade copper exploration asset, with the company issuing 30 million consideration and placement shares to the vendor upon completion of the transaction, according to a company filing released by Executive Chairman Richard Bevan.

Key Points

  • Narryer Metals is acquiring the Redhill Copper project, described as a high-grade copper exploration opportunity
  • 30 million consideration and placement shares were issued to the vendor upon completion of the transaction
  • The company reported a cash balance of $2.0 million and a market capitalisation of $10.8 million post-transaction
  • Total shares on issue post-completion stand at 241 million, with options and performance rights of 18.46 million
  • The Redhill project's prior Mineral Resources estimate is sourced from 29 Metals filings, including an Independent Geology Report lodged with ASX on 2 July 2021 and a 29 Metals disclosure dated 26 February 2026

Redhill Copper Project Acquisition Details

Narryer Metals disclosed the acquisition of the Redhill Copper project, characterised in the filing as a high-grade copper exploration opportunity. The transaction involved the issuance of 30 million consideration and placement shares to the vendor upon completion. The shares on issue figure of 241 million reflects the position as at 30 September 2026, inclusive of the 30 million shares issued at completion. The filing does not disclose the specific purchase price or additional financial terms of the acquisition beyond the share consideration.

Company Financial Position Post-Transaction

Following completion of the Redhill transaction, Narryer Metals reported a cash balance of $2.0 million and a market capitalisation of $10.8 million. The company has 241 million shares on issue and 18.46 million options and performance rights outstanding. The filing identifies Mimaro Group as a major shareholder and describes the company as backed by strategic investors with strong alignment with major shareholders. The filing also references the company as advancing a district-scale copper opportunity in Chile.

Board Composition and Competent Person Disclosure

The company's board comprises Executive Chairman Richard Bevan, Non-Executive Director Phil Warren, Executive Director – Technical Gavin England, and Non-Executive Director Dean Hildebrand. The exploration target disclosed in the filing was compiled by Dr Gavin England, identified as a Competent Person and member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geosciences, and Managing Director of Narryer Minerals Limited. Dr England declared a personal financial interest in Narryer Minerals Limited in accordance with JORC Code transparency principles and consented to inclusion of the matters based on his information.