Australia / Brazil · Rare Earths · A$968 Million All Share Acquisition Agreement Signed

What happened

Lynas Rare Earths and Meteoric Resources signed a binding scheme implementation deed under which Lynas would acquire 100% of Meteoric through a court approved scheme of arrangement. Meteoric shareholders would receive 0.0207 Lynas shares for each Meteoric share.

The companies described the transaction with an implied fully diluted equity value of approximately A$968 million, based on Lynas’ 60 day volume weighted average share price of A$15.29 as at September 30, 2026. Meteoric’s principal asset is the Caldeira Rare Earth Project in Minas Gerais, Brazil.

What happened

Generation Mining announced that construction has commenced at the Marathon Copper Palladium Project in northwestern Ontario after the company posted the construction phase financial assurance required under the filed Closure Plan. A C$6.5 million bond covers the early works phase.

The early works program includes site access upgrades, clearing and grubbing, early water management structures, camp expansion, bulk earthworks, temporary power and environmental controls. Generation Mining also expects initial payments of approximately C$30 million to secure approximately C$150 million of critical equipment, subject to final contractual arrangements and required approvals.

What happened

Lindian Resources announced that the dedicated grid connection to the Kangankunde Rare Earths Project has been energised. Power is supplied from the Chingeni substation through a new 27 kilometre, 33 kV line to the project site.

The company said the line was energised ahead of schedule and that the Stage 1 process plant requires just under 3 MVA. Staged process plant commissioning remains planned for late November 2026, with commercial production targeted for December.

What happened

In its October 1 update, Marimaca Copper reported that, on September 22, 2026, the Panel of Experts upheld the National Electric Coordinator’s approval of the company’s application to connect the Marimaca Oxide Deposit to the 110 kV El Lince line, approximately 13 kilometres from the project area.

Marimaca also signed a preliminary power purchase framework with an energy provider in Chile for 100% renewable power from the national grid. The proposed commercial structure includes an initial five year term after ramp up and pricing described by the company as closely aligned with the project’s feasibility study assumption of US$93 per MWh.

What happened

Mayfair Gold entered into a subscription agreement for a C$10 million strategic equity investment from Macquarie and signed an engagement letter and nonbinding term sheet for a proposed C$300 million project finance facility for the Fenn Gib Gold Project in Ontario.

The proposed debt facility includes a C$25 million early draw tranche intended for early works, long lead equipment and detailed engineering. The financing framework also includes gold offtake rights covering the first 50,000 ounces produced annually, up to an aggregate maximum of 300,000 ounces, with those rights vesting in stages subject to the equity and financing closing conditions.

What happened

Grande Portage Resources signed a definitive gold purchase agreement with Ocean Partners covering up to 100% of production from the New Amalga property for the first seven years of commercial operation, subject to a minimum tonnage requirement and customary conditions precedent.

The agreement establishes metal payabilities and deductions across product grades for use in economic studies. Grande Portage separately stated that definitive documentation for the previously announced US$25 million revolving credit facility remains subject to conditions precedent, confirmatory due diligence and legal documentation.