Accelerate secures full control of Pilbara manganese project
Accelerate Resources secured 100 per cent of Woodie Woodie North manganese using shares instead of cash.
The miner did two share-only deals to get 100 per cent of the 432-square-kilometre Pilbara project 260 kilometres east of Port Hedland. Previously, Accelerate held only manganese and iron ore rights under a 2021 option deal.
Now it owns the exploration licences outright. The moves remove future payments that could have cost up to $2 million in cash and 20 million shares.
No cash leaves the company for the deals. This leaves it well-funded for a big drilling campaign starting next month.
The simpler ownership structure also strengthens Accelerate's hand for possible funding, partnerships or offtake deals. Management now gets 100 per cent of the upside from any future find at the project.
- 432 square kilometres
- Project size
- 25 million
- Shares issued in first deal
- 30 million
- Shares issued in second deal
Why it mattersCombining ownership and removing future payments means all discovery value stays with Accelerate shareholders. This makes the project simpler and stronger for development.
AustraliaThe project sits in WA's East Pilbara region, and a significant manganese discovery could expand Western Australia's mining output and create jobs in the region.
✓ Claims checked against the source. checked 2 h ago
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