Business
Proposed Acquisition & Fundraise of up to £1 m
Ajax Resources PLC has announced a proposed acquisition of 100% of Pereira Velho Exploração S.A. (PVESA), which owns the Pereira Velho Gold Project in Brazil, for a total consideration of up to US$2.1 million. This acquisition is supported by a proposed investment from Appian Capital Advisory, which will subscribe for US$400,000 in new shares, and a fundraise of up to £1 million, which is already secured through commitments from existing investors and the board. The project has an Appian in-house resource estimate of approximately 110,000 ounces, with significant exploration upside as only about 10% has been drilled. The company plans a two-phase development strategy, including validation drilling and a resource definition program, with a maiden JORC-compliant Mineral Resource Estimate targeted. Disclaimer*
About this update from Ajax Resources Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n11 December 2025\nAJAX RESOURCES PLC\n \n(\"Ajax\" or the \"Company\")\n \nProposed Investment by Appian Capital Advisory, Proposed Acquisition &\nProposed Fundraise of up to £1 million\nAjax [AQSE: AJAX], the natural resources investment company, is delighted to announce that it has signed a Heads of Terms to acquire 100% of the issued share capital of Pereira Velho Exploração S.A. (\"PVESA\"), a Brazilian company that owns the Pereira Velho Gold Project (the \"Proposed Acquisition\") in Alagoas State, Brazil. PVESA is wholly owned by entities affiliated with Appian Capital Advisory Limited (\"Appian\").\nAppian holds approximately US$5 billion in assets under management, making it one of the world's largest dedicated mining-focused private equity groups.\nUnder the terms of the Proposed Acquisition, Appian will become a significant shareholder in Ajax upon completion.\nThe Proposed Acquisition aligns with Ajax's strategy of securing high-quality assets with significant unexploited upside and a clear trajectory towards near-term production.\nThe Proposed Acquisition is a scalable, near-surface gold project with an Appian in-house resource estimate of approximately 110,000 oz (Measured, Indicated and Inferred). Ajax will acquire the project for a payment of US$400,000 in shares and US$200,000 in cash on completion, with a further share-based payment of US$1,500,000 payable upon publication of a JORC-compliant resource statement outlining a Measured, Indicated and Inferred resource of not less than 350,000 ounces of gold at a 0.20 g/t Au cut-off grade. The Proposed Acquisition also includes a 2.5% Net Smelter Return (NSR) royalty, payable only after any two consecutive fiscal quarters with an average LBMA Gold Price PM above US$2,500/oz, and an NSR buyback right allowing the Company to repurchase the royalty for US$1,500,000 within three years of the commencement of production.\nProposed Acquisition Highlights\n· Appian Investment: Appian to subscribe for the GBP equivalent of US$400,000 in new Ordinary Shares at the Fundraise issue price, potentially becoming a significant shareholder in Ajax.\n· The Compan...