The Minerals 260 Ltd (ASX: MI6) share price is in focus after the company announced the granting of an expanded Mining Lease at its Bullabulling Gold Project and the acquisition of additional regional tenements, expanding its total project area to 1,527km².
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What did Minerals 260 report?
- The expanded Mining Lease now covers the full mining and processing area defined in its Pre-Feasibility Study.
- Minerals 260 entered a binding agreement to acquire 367km² of additional tenure from Kalgoorlie Mining Associates Pty Ltd.
- Total project area now stands at 1,527km², up significantly from the original 130km² acquired in April 2025.
- The Bullabulling Gold Project hosts a gold resource of 190Mt at 1.0g/t Au for 6.2Moz (JORC 2012 Mineral Resource Estimate as of July 2026).
- Board's Final Investment Decision is on track for Q1 CY2027, with project approvals progressing as planned.
What else do investors need to know?
The newly granted Mining Lease, along with the acquisition of strategic nearby tenements, gives Minerals 260 Limited control over the largest and most prospective land package along the Bullabulling fault. This move broadens its exploration potential and underpins the scale of the Bullabulling Gold Project.
The acquisition deal consists of $250,000 in cash and $1,000,000 in Minerals 260 shares, based on a 20-day volume-weighted average price to 26 August 2026. The transaction is expected to complete within two business days, subject to standard conditions.
Pre-feasibility plans and approvals continue on schedule, supporting the path towards a Board-level investment decision next year and targeted first production in 2028.
What did Minerals 260 management say?
Minerals 260 Managing Director, Luke McFadyen, said:
The granting of the expanded Mining Lease for Bullabulling is a significant step for the Project and reflects the continued de-risking activities the Company is focussed on to achieve our first production target in 2028. The newly acquired tenure enables Minerals 260 to add further potential targets to its ongoing regional exploration program, which is a focus for the Company to drive longer term value for shareholders.
What's next for Minerals 260?
Looking ahead, Minerals 260 plans to integrate the newly acquired tenements into its regional exploration activities to identify additional gold targets. The company maintains its focus on advancing project permits and technical studies, with key milestones including a final board decision in early 2027 and ambitions for first gold production in 2028.
Management remains optimistic that a larger, unified landholding will enhance long-term value and flexibility as development proceeds.
Minerals 260 share price snapshot
Over the past 12 months, Minerals 260 shares have risen nearly 600%, far outpacing the All Ordinaries Index (ASX: XAO).
