Maritana Minerals secures $400,000 Windarra decision
- Encore made a positive final investment decision to proceed with the Windarra Tailings Project.
- Maritana Minerals receives an immediate $400,000 non-refundable payment and secures a 3% net smelter royalty.
- The deal enables Maritana Minerals to monetise non-core assets while focusing resources on the Black Swan Processing Hub.
Maritana Minerals (ASX:MRT) announced that private entity Encore has made a positive final investment decision to proceed with the Windarra Tailings Project, triggering an immediate $400,000 non-refundable cash payment to the company.
The decision follows an agreement executed in July 2024 between Encore, Mining and Process Solutions, Encore Resources, and Poseidon Nickel.
"The positive final investment decision by Encore is a strong endorsement of the value remaining in the Windarra tailings and an important milestone in our strategy of unlocking value from every part of our asset portfolio," said Maritana Minerals Managing Director and CEO Grant Haywood.
Under the terms of the agreement, Encore will fully fund, develop, operate, and rehabilitate the project using Draslovka's proprietary Glycine Leaching Technology, while Maritana retains a 3% net smelter return royalty on Windarra production and 1.5% on Lancefield tailings located 17 kilometres away.
Maritana stated that monetising these non-core assets allows the business to increase focus on converting the Black Swan Processing Hub, where first gold production is planned for the second half of calendar year 2026.
Following the announcement, the Maritana Minerals share price was unchanged at $0.82.
