Highlights

• Hammer Metals (ASX:HMX) has entered a scheme implementation deed under which Austral Resources proposes to acquire the company.
• The transaction also includes a proposed demerger of Hammer’s Western Australian gold Assets into a separate unlisted company.
• Austral has agreed to provide Hammer with an unsecured A$6 million Loan Facility while the scheme remains in effect.
• Court approvals, the independent expert’s assessment and the Shareholder vote remain key steps before implementation.

A contested Takeover is one of the few developments that can place a small explorer firmly in focus, and Hammer Metals (ASX:HMX) is progressing through such a process. After an…