Capricorn Metals Ltd Announces Acquisition of Warriedar Resources

In a strategic move that underscores its commitment to expanding its footprint in the Western Australian gold sector, Capricorn Metals Ltd (ASX: CMM) has announced its intention to acquire Warriedar Resources Limited (ASX: WA8). This acquisition, set to be executed through a share scheme of arrangement and a listed option scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth), marks a significant consolidation of gold projects in the region.

Strategic Consolidation

The acquisition is poised to bring together Capricorn’s existing operations with Warriedar’s flagship Golden Range Project (GRP), which includes the Ricciardo gold-antimony deposit and the Fields Find gold project. These assets are strategically located just 90 kilometers north of Capricorn’s Mt Gibson Gold Project (MGGP), promising enhanced operational synergies and a stronger presence in the gold exploration and production landscape.

Financial Implications

Under the proposed Warriedar Schemes, Capricorn will acquire 100% of Warriedar’s fully paid ordinary shares and listed options. In exchange, Warriedar’s shareholders and optionholders will receive equivalent shares and options in Capricorn. This all-share consideration is designed to be mutually beneficial, offering Warriedar’s stakeholders a stake in Capricorn’s broader growth trajectory.

Market Reaction

As of July 21, 2025, Capricorn Metals’ share price stood at AUD 9.61, with a 52-week high of AUD 10.8 and a low of AUD 5.115. The company’s market capitalization is valued at approximately AUD 4.05 billion. The acquisition news is expected to influence investor sentiment, potentially impacting Capricorn’s share price as the market digests the strategic benefits and financial implications of the deal.

Next Steps

Capricorn intends to seek quotation for the Warriedar Schemes, moving forward with a binding Scheme Implementation Deed (SID) that outlines the terms of the acquisition. The completion of this transaction is contingent upon court approval, following which Capricorn will fully integrate Warriedar’s assets into its operations.

Conclusion

This acquisition represents a logical step for Capricorn Metals as it seeks to bolster its portfolio and capitalize on the rich gold resources in Western Australia. By securing Warriedar’s key projects, Capricorn not only enhances its asset base but also positions itself for sustained growth in the competitive metals and mining sector.