MetalsTech Execs Sell 23M Shares to New Mining Investors Backing Sturec Gold
MetalsTech Limited’s executive director and spouse have sold over 23 million shares to three new private mining investors, injecting nearly A$11.2 million and potentially accelerating development of the Sturec Gold Mine.
- Executive director Gino D’Anna and spouse Rachel D’Anna sell 23M shares in three off-market transactions
- New investors include private equity family offices from Hong Kong and significant Chinese mining investors
- Total consideration of approximately A$11.17 million at prices between A$0.432 and A$0.485 per share
- No immediate board changes, but Minerva may nominate a director post-settlement
- Investors expected to provide technical and funding support for Sturec Gold Mine’s Pre-Feasibility Study
Background to the Transactions
MetalsTech Limited (ASX, MTC) has announced a significant reshuffle in its shareholder base involving the sale of 23,041,940 fully paid ordinary shares by executive director Gino D’Anna, his controlled entities, and his spouse Rachel D’Anna. This follows the expiration of a previous share sale agreement with Minerva Investment Company Limited, which was not renewed. The new share sales are structured as three separate off-market block trades to distinct private mining investors, collectively injecting nearly A$11.2 million into the company.
Details of the New Share Sales
The first transaction involves 4 million shares sold by Rachel D’Anna to Shuihua Investment Limited Partnership Fund, a private equity family office based in Hong Kong, for A$1.92 million. The second sees 8 million shares sold by Gino D’Anna to Longwell Capital Pty Limited, another Hong Kong-based private equity family office, for A$3.84 million. The third and largest transaction involves 11,041,940 shares sold jointly by Gino and Rachel D’Anna to Minerva Investment Company Limited and Xiaowu Li, significant private mining investors from China, for approximately A$4.2 million. Settlement for these transactions is expected between August and October 2025.
Strategic Implications for MetalsTech
While these transactions represent a substantial change in share ownership, MetalsTech confirms no immediate changes to the board or shareholder control will occur until settlement. However, Minerva may nominate a director to the board post-settlement, potentially bringing new expertise and influence. The new investors are noted for their track record in advancing mining projects into production, which aligns with MetalsTech’s strategic focus on advancing the Sturec Gold Mine.
Supporting the Sturec Gold Mine Development
The company is currently progressing a Pre-Feasibility Study (PFS) for the Sturec Gold Mine, a critical milestone that will significantly de-risk the project and guide future development. MetalsTech’s independent directors view the transactions positively, anticipating that the new investors’ technical and financial support will enhance the company’s ability to complete the PFS and advance the mine towards production. The company also retains an undrawn A$5 million facility with Minerva to support working capital and study costs.
Governance and Compliance
MetalsTech has maintained strict compliance with ASX Listing Rules throughout these transactions, including the establishment of an independent steering committee to manage potential conflicts of interest. The share sales were conducted outside any blackout periods and without the release of any undisclosed price-sensitive information. The company continues to operate under its existing executive and senior management team, reporting to the non-executive board.
Looking Ahead
As MetalsTech moves towards settlement of these transactions, the market will be watching closely for any board nominations by Minerva and the tangible impact of new investors on the company’s operational and funding strategies. The successful completion of the PFS remains a pivotal objective, with the potential to unlock significant value for shareholders and position the Sturec Gold Mine for future development.
Bottom Line?
The entry of new mining-focused investors could be a catalyst for MetalsTech’s next phase, but the market awaits clarity on board changes and funding commitments.
Questions in the middle?
- Will Minerva’s potential board nomination shift MetalsTech’s strategic direction?
- How soon will the new investors provide technical or funding support post-settlement?
- What impact will these share sales have on MetalsTech’s share price and liquidity?
