Thunderbird Resources Finalises LM2 Metals Acquisition, Issues 28.5M Shares
Thunderbird Resources has completed its acquisition of LM2 Metals, gaining full ownership of the Springfield Gold Deposit in central NSW and issuing over 28 million shares as part of the deal.
- Acquisition of 100% of LM2 Metals completed
- Springfield Gold Deposit now fully owned by Thunderbird
- 28,571,429 shares issued as part consideration
- Shares issued at a deemed price of $0.014 each
- Regulatory compliance confirmed under Corporations Act
Acquisition Completion Marks Strategic Expansion
Thunderbird Resources Limited (ASX – THB) has officially completed its acquisition of LM2 Metals Pty Ltd, a move that significantly expands its portfolio with the addition of the Springfield Gold Deposit located in central New South Wales. This follows the binding share sale agreement announced in September 2025 and the subsequent shareholder approval secured in November.
Share Issuance as Consideration
As part of the acquisition terms, Thunderbird issued 28,571,429 fully paid ordinary shares to the vendors of LM2 Metals. These shares were allocated at a deemed issue price of 1.4 cents each, reflecting the agreed valuation framework underpinning the transaction. The issuance was conducted without a formal disclosure document, in accordance with the relevant provisions of the Corporations Act, with the company confirming full regulatory compliance.
Regulatory and Market Implications
The company’s announcement included a cleansing notice under section 708A(5)(e) of the Corporations Act, ensuring that investors have access to all material information necessary to assess the company’s prospects post-acquisition. Thunderbird has affirmed that no material information has been withheld, maintaining transparency with the market.
Strategic Outlook
The acquisition of the Springfield Gold Deposit positions Thunderbird Resources to potentially accelerate its exploration and development activities in a promising gold region. While the company has not yet provided operational guidance or detailed financial forecasts related to the deposit, this move signals a clear intent to build shareholder value through asset growth.
Looking Ahead
Investors and analysts will be watching closely for updates on exploration results, development plans, and how the integration of LM2 Metals’ assets will influence Thunderbird’s overall strategy and market positioning in the coming months.
Bottom Line?
Thunderbird’s acquisition of LM2 Metals and the Springfield Gold Deposit marks a pivotal step, but the real test lies in translating this asset into value.
Questions in the middle?
- What are the exploration and development plans for the Springfield Gold Deposit?
- How will the share issuance impact Thunderbird’s capital structure and shareholder dilution?
- What timeline does Thunderbird envision for progressing the newly acquired asset towards production?