First Au to acquire Javelin Minerals in takeover

• First Au executed a binding takeover deed to acquire Javelin Minerals via an all-scrip transaction.
• Javelin shareholders receive an implied offer value of $0.1153 per share, representing a 40.6% premium based on recent trading averages.
• The deal aims to consolidate three brownfields gold projects in Western Australia's Eastern Goldfields region near Kalgoorlie.

First Au (ASX:FAU) signed a binding agreement to acquire Javelin Minerals (ASX:JAV) through an all-scrip takeover offer.

The proposed combination brings together assets near Kalgoorlie to create a combined mineral resource base totalling approximately 350,600 ounces of gold.

Javelin Executive Chairman Brett Mitchell commented, “We believe the combination offers an attractive opportunity to develop a broader brownfields gold portfolio in the Eastern Goldfields while maintaining an interest in the projects we have been advancing.”

The announcement noted that directors who hold or control 9% of Javelin shares intend to accept the offer in the absence of a superior proposal.

Under the terms, Javelin shareholders will receive 11.7647 new First Au shares for each Javelin share following a planned 20-to-1 capital consolidation.

Following the announcement, the First Au share price was unchanged at $0.012.

Upon completion of the transaction, existing Javelin shareholders will hold an estimated 48.7% equity stake in the expanded mining group.

The transaction remains subject to a 50.1% minimum acceptance condition alongside standard regulatory and shareholder approvals.