Ordell Minerals Limited (ASX:ORD) agreed to acquire Metallo Resources Pty Limited from Genesis Minerals Limited (ASX:GMD) on May 18, 2024. As a part of consideration Ordell Minerals will issue 4 million share and upon the announcement of a JORC-compliant
Mineral Resource in excess of 500,000 ounces of gold on the tenements, the Company, Ordell will either (at its election) pay further cash consideration of AUD 0.8 million or issue shares to Genesis equal to AUD 0.8 million and on the announcement of a decision to commence the first commercial mining activities on the Barimaia Tenements, Ordell will either (at its election), pay further cash consideration of AUD 1.6 million or issue Shares to Genesis equal to AUD 1.6 million. The transaction is subject to approval by regulatory board / committee.