The Minerals 260 Ltd (ASX: MI6) share price is in focus after the company announced the granting of an expanded Mining Lease at its Bullabulling Gold Project and the acquisition of additional regional tenements, expanding its total project area to 1,527km².
What did Minerals 260 report?
- The expanded Mining Lease now covers the full mining and processing area defined in its Pre-Feasibility Study.
- Minerals 260 entered a binding agreement to acquire 367km² of additional tenure from Kalgoorlie Mining Associates Pty Ltd.
- Total project area now stands at 1,527km², up significantly from the original 130km² acquired in April 2025.
- The Bullabulling Gold Project hosts a gold resource of 190Mt at 1.0g/t Au for 6.2Moz (JORC 2012 Mineral Resource Estimate as of July 2026).
- Board’s Final Investment Decision is on track for Q1 CY2027, with project approvals progressing as planned.
What else do investors need to know?
The newly granted Mining Lease, along with the acquisition of strategic nearby tenements, gives Minerals 260 Limited control over the largest and most prospective land package along the Bullabulling fault. This move broadens its exploration potential and underpins the scale of the Bullabulling Gold Project.
The acquisition deal consists of $250,000 in cash and $1,000,000 in Minerals 260 shares, based on a 20-day volume-weighted average price to 26 August 2026. The transaction is expected to complete within two business days, subject to standard conditions.
Pre-feasibility plans and approvals continue on schedule, supporting the path towards a Board-level investment decision next year and targeted first production in 2028.
What did Minerals 260 management say?
Minerals 260 Managing Director, Luke McFadyen, said:
The granting of the expanded Mining Lease for Bullabulling is a significant step for the Project and reflects the continued de-risking activities the Company is focussed on to achieve our first production target in 2028. The newly acquired tenure enables Minerals 260 to add further potential targets to its ongoing regional exploration program, which is a focus for the Company to drive longer term value for shareholders.
What’s next for Minerals 260?
Looking ahead, Minerals 260 plans to integrate the newly acquired tenements into its regional exploration activities to identify additional gold targets. The company maintains its focus on advancing project permits and technical studies, with key milestones including a final board decision in early 2027 and ambitions for first gold production in 2028.
Management remains optimistic that a larger, unified landholding will enhance long-term value and flexibility as development proceeds.
Minerals 260 share price snapshot
Over the past 12 months, Minerals 260 shares have risen nearly 600%, far outpacing the All Ordinaries Index (ASX: XAO).
The post Minerals 260 expands Bullabulling project with new lease and tenement acquisition appeared first on The Motley Fool Australia.
Should you invest $1,000 in Minerals 260 right now?
Before you buy Minerals 260 shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Minerals 260 wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 1 August 2026
.custom-cta-button p {
margin-bottom: 0 !important;
}
More reading
- Here are the top 10 ASX 200 shares today
- Minerals 260 drilling update: high-grade hits boost Bullabulling gold confidence
- 8 ASX 200 shares with fresh buy ratings this week
- How high does UBS think Minerals 260 shares will go?
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.