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Midas Minerals Ltd (ASX:MM1)

ALERT: Price-sensitive ASX Announcement for MM1
Current share price for MM1 : $0.900 0.34 (60.71%)+
Announcement
Release
22 Dec 2025 9:33AM
Price at Release
$0.560
Full Release
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Summary
Midas Minerals Ltd has successfully completed the acquisition of the Otavi Copper Project in Namibia, concluding all necessary legal and regulatory steps. The project spans 1,776 square kilometers and includes significant exploration opportunities, with notable deposits like T13 and Deblin undergoing drilling. With $15.3 million in funding, Midas is well-prepared to accelerate exploration efforts and further develop its holdings in Namibia, including the South Otavi Project. Drilling commenced on key sites, with additional resources planned for deployment shortly.
Key Points
  • Midas Minerals Ltd completed the acquisition of the Otavi Copper Project in Namibia.
  • The acquisition process included securing licence transfers and Namibian Competition Commission approval.
  • Drilling is already underway at Otavi with plans to expand operations in 2026.
  • The project area covers 1,776km2 with significant exploration potential.
  • Midas has approximately $15.3M in cash as of 30 September 2025 to support exploration activities.
  • The company is also exploring the South Otavi Project and plans to commence drilling on the Deblin deposit.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.