How Will Accelerate’s 25% Stake in Comet Gold Pay Off with Caprice?

• Accelerate enters earn-in JV with Caprice on Comet Gold Project
• Receives A$50,000 cash and A$200,000 in Caprice shares
• Retains 25% free-carried interest through Pre-Feasibility Study
• Caprice to manage exploration with potential for new discoveries
• Accelerate sharpens focus on core Kalgoorlie gold assets

Strategic Partnership Unlocks Value

Accelerate Resources Limited (ASX, AX8) has announced a binding earn-in joint venture agreement with Caprice Resources Ltd (ASX, CRS) over the Comet Gold Project, located in the prolific Murchison Goldfields of Western Australia. This deal marks a significant step for Accelerate, allowing the company to crystallise value from a non-core asset while maintaining exposure to future exploration upside.

Under the terms, Caprice acquires a 75% interest in the Comet Gold Project, paying Accelerate A$50,000 in cash and issuing A$200,000 worth of shares. Importantly, Accelerate retains a 25% free-carried interest through to the completion of a Pre-Feasibility Study, ensuring it remains a key stakeholder in any potential discoveries or development milestones.

Balancing Immediate Returns with Long-Term Potential

The structure of the deal is designed to provide Accelerate with immediate financial benefits while preserving upside exposure. The shares received are escrowed for 12 months, aligning interests with Caprice’s exploration progress. Should either party’s interest dilute below 10%, it converts to a 1% Net Smelter Royalty, with Caprice holding a buyback right for A$1 million, adding a layer of flexibility and risk management.

Caprice’s Chief Executive Officer, Luke Meter, expressed confidence in the project’s potential, citing geological similarities and learnings from their nearby Island Gold Project. This 'nearology' effect suggests that Caprice’s proven exploration approach could unlock significant value at Comet, benefiting both companies.

Sharper Focus on Core Gold Assets

For Accelerate, this transaction aligns with a broader strategy to monetise non-core assets and concentrate resources on its core Kalgoorlie-region gold portfolio, including the Balagundi and Kanowna East projects. These areas have already shown promising drilling results and represent exciting exploration hubs within 25 kilometres of Kalgoorlie, a renowned gold mining centre.

By partnering with Caprice, Accelerate leverages external expertise and capital to advance Comet’s exploration without diverting its own resources, while retaining a meaningful stake in any upside. This approach reflects a pragmatic balance between risk management and growth potential.

Looking Ahead

As Caprice embarks on its exploration campaign at Comet, Accelerate shareholders stand to benefit not only from the immediate cash and equity injection but also from any future discoveries that may emerge. The deal underscores a growing trend among junior miners to forge strategic partnerships that unlock value and sharpen operational focus.

Bottom Line?

Accelerate’s deal with Caprice crystallises value today while keeping the door open for tomorrow’s discoveries.

Questions in the middle?

• How quickly will Caprice advance exploration at the Comet Gold Project?
• What impact will Caprice’s exploration success have on Accelerate’s shareholding value?
• Could further dilution or buyback rights affect Accelerate’s long-term returns?