Minerals 260 (ASX:MI6) announced that Franco-Nevada Australia has secured formal approval from the Foreign Investment Review Board regarding its mortgage arrangements for the Bullabulling Gold Project.
The critical green light satisfies a key condition precedent for the finalisation of a substantial $220 million strategic funding package first unveiled on Feb. 23.
The approval specifically triggers the "Second Tranche" of royalty funding, a payment totalling $95 million, which is now scheduled to be settled no later than March 27.
Located approximately 65km from Kalgoorlie in Western Australia, the 4.5Moz Bullabulling Gold Project stands to benefit immensely from this capital injection.
Managing Director Luke McFadyen highlighted the speed of the FIRB turnaround as a major milestone, noting that the partnership with Franco-Nevada—the world’s leading gold royalty company—serves as a powerful endorsement of the project’s high potential.
With the $220 million package now fully de-risked and cleared for completion, Minerals 260 is poised to accelerate its development timeline and expand its exploration strategy.
By securing this funding pathway, the company effectively mitigates financial hurdles as it transitions Bullabulling towards active production.