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Hammer Metals shareholders have approved the proposed acquisition of Hammer Metals Limited (ASX: HMX) by Austral Resources (ASX: AR1).
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The Scheme resolution passed by the requisite majorities, with 99.8% of the total votes cast in favour.
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Austral Resources Chairman David Newling said the approval marks an important milestone in bringing together complementary copper resources, exploration opportunities and processing infrastructure across North West Queensland.
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Hammer Metals will seek Federal Court of Australia approval at the Second Court Hearing on Friday, 13 November 2026.
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If approved, the Scheme is expected to become effective on Monday, 16 November 2026, with implementation scheduled for Wednesday, 25 November 2026.
Austral Resources Australia Limited (ASX: AR1) | 10 November 2026
Hammer Metals shareholders have approved the proposed acquisition of Hammer Metals Limited (ASX: HMX) by Austral Resources (AR) Australia Limited (ASX: AR1), with the resolution passing by the requisite majorities at the Scheme Meeting held in West Perth on Monday, 9 November 2026.
Of the total number of votes cast, 99.8% were in favour of the Scheme.
"We thank Hammer Metals shareholders for their support of the Scheme," AR Chairman David Newling said. "Their approval marks an important milestone in bringing together complementary copper resources, exploration opportunities and our existing processing infrastructure across North West Queensland.
"The strong level of shareholder support reinforces our confidence that this transaction will accelerate the delivery of our strategy and strengthen our position as we build Australia's next mid-tier copper powerhouse."
The acquisition remains subject to Court approval and the satisfaction or waiver (where applicable) of the remaining conditions precedent. Hammer Metals will apply to the Federal Court of Australia for orders approving the Scheme at the Second Court Hearing on Friday, 13 November 2026.
If the Court approves the Scheme, it is expected to become effective on Monday, 16 November 2026, with implementation scheduled for Wednesday, 25 November 2026. These dates are indicative and subject to change.
BMO Australia and Shaw and Partners acted as financial advisors to AR on the acquisition.
About us:
Austral Resources is building Australia’s next mid-tier copper powerhouse, shaped by our pure-play Queensland copper focus and dual-processing platform – a combination that gives us a rare position in the market. Backed by established infrastructure and disciplined, long-term growth, our foundation is resilient; and as a reliable partner to our stakeholders, our measured delivery is driven by experience and accountability. Commercially, AR is an ASX (ASX:AR1) listed copper producer operating in Queensland, Australia. We operate dual processing facilities: Western Operations (Mt Kelly) a copper oxide heap leach and solvent extraction electrowinning (SX-EW) plant with a nameplate capacity of 30,000tpa of copper cathode; and Eastern Operations (Rocklands) a copper sulphide concentrator with a nameplate capacity of 3Mtpa. We own a significant copper inventory with a JORC compliant Mineral Resource Estimate standing at 64 Mt @ 0.73% Cu (468,414t of contained copper), alongside 2,101km2 of highly prospective exploration tenure in the heart of north west Queensland, a world class copper and base metals province.
Contact details:
Jane Morgan Management, Investor and Media Relations: Wilamina Russo, 0450 646 609 [email protected]