BOA Resources Ltd. has agreed to acquire 100 per cent of Core Value Australia NL (CVA), consolidating its grip on the highly prospective Neds Creek copper project in Western Australia’s Murchison region.
The transaction will see CVA simultaneously acquire the advanced Thaduna and Green Dragon copper deposits from Sandfire Resources.
Upon completion, BOA will absorb CVA, thereby commanding full asset ownership across a major, unified regional copper footprint.
The acquisition materially upgrades BOA from an early-stage exploration play to a resource-backed developer. Both the Thaduna and Green Dragon deposits are situated on granted mining leases and host a combined JORC 2012-compliant mineral resource estimate of 5.3 million tonnes at 2.3 per cent copper, translating to 121,000 tonnes of contained copper.
As partial consideration for the assets, Sandfire Resources will be issued 27.8 million shares, emerging as a substantial shareholder with a 6.2 per cent stake in BOA.
Furthermore, veteran geologist and CVA principal Adrian Griffin will join the BOA board as a non-executive director.
BOA Chair and Managing Director Cath Norman said the consolidation comes at a time of highly supportive macro conditions, with global copper prices elevated by structural demand across electrification, grids, and renewable infrastructure.
“By acquiring CVA and the Thaduna and Green Dragon copper deposits, BOA will move from holding an interest in a highly prospective copper exploration package to controlling a much broader regional copper portfolio including granted mining leases, drill-ready targets and substantial exploration upside,” Norman said.
“The combination of Thaduna and Green Dragon, together with a fully funded drilling program across high priority Neds Creek targets, means BOA has the potential to build a meaningful copper business in one of Western Australia’s proven mining regions.”
BOA is pushing ahead at pace. The company intends to integrate the historical Sandfire datasets while finalising heritage surveys ahead of a major exploration campaign.
A fully funded diamond and reverse-circulation drilling blitz is officially scheduled to kick off in late July, primarily targeting the high-priority Ricci Lee and Rooneys prospects.
