Bryah Resources Limited (ASX: BYH) has signed a formal contract to acquire 100% of the Golden Pike high-grade gold and antimony project in New Brunswick, Canada, from Globex Mining Enterprises Inc. The deal includes staged milestone payments totaling CAD$1.78 million in cash and shares over four years, alongside a CAD$3 million exploration commitment. Globex retains a gross metal royalty of 2% on the first 20,000 ounces produced and 3% thereafter, with Bryah holding a buyback option for 1% before production begins.
This acquisition marks a strategic expansion for Bryah into Canada, complementing its strong portfolio in Western Australia. The company will immediately begin exploration at Golden Pike while progressing projects like the Gabanintha copper-nickel asset and the Lake Johnston lithium-nickel tenements. Additionally, Bryah is in talks to sell its metal rights over the Australian Vanadium Project, aiming to secure non-dilutive capital and reinforce its exploration-led growth strategy.
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