Australian Gold and Copper Ltd (ASX: AGC) announced on May 27, 2026, its binding agreement to acquire 100% of New South Resources Pty Ltd, the owner of the Junee Gold Project. An exploration company focused on discovering gold and copper deposits across New South Wales, AGC will settle the acquisition, valued at approximately A$5.4 million based on its last closing price of A$0.18 per share, through the issuance of 30 million new AGC shares. This strategic move expands AGC’s presence into a major NSW gold province, complementing its existing South Cobar strategy.
Located approximately 230km south of AGC’s South Cobar Project, Junee is a large-scale, highly prospective gold-dominant project featuring seven drill-ready targets. These include the Dobroyde epithermal deposit, with existing high-grade intersections, and the Burringa copper-gold-molybdenum deposit, both in an active gold district hosting operations like Evolution Mining’s Cowal Gold Mine. Over A$10 million in exploration has been invested since 2017 by majors like Freeport-McMoRan and Newmont, with New South as operator. New South holds 100% ownership of Junee, free of royalties or encumbrances.
To fund an expanded exploration budget for FY2027 and accelerate work at Junee, AGC has secured A$5 million through a two-tranche placement. This capital will continue active drilling at Achilles and Evergreen while progressing Junee. Shares are offered at A$0.155 each, a 13.9% discount to the last closing price. Managing Director Glen Diemar highlighted the acquisition’s upgrade to AGC’s portfolio, offering immediate discovery potential for large-scale gold systems in a fertile NSW mineral belt, and a clear pathway to value creation.
