Spitfire Materials Limited and Aphrodite Gold Limited to merge to create a leading diversified Australian Gold exploration and development Company.


Download the full announcement here (1MB): Aphrodite Spitfire Merger Announcement
Download the full presentation here (4MB): Aphrodite Spitfire Merger Presentation


Combined company will have ~1.3Moz in JORC resources, a vast and highly prospective
exploration portfolio in WA and Queensland and will be led by the highly successful
management team which founded Pilbara Minerals.

 

HIGHLIGHTS

  • Spitfire Materials Limited (ASX: SPI) and Aphrodite Gold Limited (ASX: AQQ) have signed a
    binding terms sheet for a merger by way of a court approved Scheme of Arrangement.
  • The merger will create a leading ASX-listed gold company with an advanced and
    complementary exploration and development portfolio in Western Australia, Queensland and
    the Northern Territory.
  • The key asset of the merged entity will be the Aphrodite Gold Project, located approximately
    65km from Kalgoorlie in Western Australia, a PFS-level project with outstanding near-term
    production potential and exceptional exploration upside.
  • The Aphrodite Gold Project offers outstanding synergies with Spitfire’s Mulwarrie Gold Project,
    located 65km away, where it has recently discovered significant high-grade primary gold
    mineralisation.
  • The merged entity plans to embark on an aggressive drilling program with the aim to expand
    the existing Mineral Resource inventory at Aphrodite and define a JORC Resource at
    Mulwarrie. Drilling is set to resume at Mulwarrie this week.
  • The merged entity also offers exposure to discoveries at the large-scale Alice River Gold Project
    in North Queensland, where a maiden drilling program is set to commence next month.
  • The merged entity’s Australian gold strategy will be led by the highly skilled management team
    (Neil Biddle and John Young) which founded the successful lithium developer Pilbara Minerals
    Limited. Aphrodite directors Peter Buttigieg and Roger Mitchell will also join the merged
    entity’s board. Peter Buttigieg will be the Non-Executive Chairman.

 

Download the full announcement here (1MB): Aphrodite Spitfire Merger Announcement
Download the full presentation here (4MB): Aphrodite Spitfire Merger Presentation