QGold Increases Venus Metals Takeover Offer by 23.5% to $0.21 Per Share

QGold Raises the Stakes

QGold Pty Ltd has officially increased its on-market takeover offer for Venus Metals Corporation Limited (ASX, VMC) shares from $0.17 to $0.21 per share. This move, announced on 9 January 2026, represents a significant 23.5% uplift in the bid price, reflecting QGold’s determination to secure control of the mining company.

The increased offer price is accompanied by an extension of the offer period, now set to close at 4, 00pm Sydney time on 30 January 2026. This extension provides shareholders with additional time to consider the improved terms, while QGold signals that this will be the final offer and no further price increases or deadline extensions are planned.

Funding and Financial Backing

To support the enhanced offer, QGold has raised its funding capacity under a binding loan agreement with Christopher Ian Wallan to approximately $35.67 million, plus transaction costs. This increase ensures that QGold has sufficient resources to complete the acquisition at the higher price point, addressing any concerns about the bid’s financial viability.

The takeover bid targets all fully paid ordinary shares in Venus Metals not already owned or controlled by QGold or its associates. As of the announcement date, QGold and its associates hold less than 50% of Venus Metals shares, meaning the bid remains a contest for majority ownership.

Market and Regulatory Context

The supplementary bidder’s statement and notice of variation have been lodged with both the Australian Securities and Investments Commission (ASIC) and the Australian Securities Exchange (ASX), ensuring full regulatory compliance. Ord Minnett Limited, acting as QGold’s broker, has publicly confirmed the offer’s revised terms and finality.

While the bid’s increased price and extended timeline may encourage more Venus Metals shareholders to accept, the absence of competing offers or a formal response from Venus Metals’ board leaves some uncertainty about the takeover’s ultimate success.

What Lies Ahead

With the offer deadline now extended and the price firmly set, market participants will be watching closely for shareholder acceptance levels and any strategic moves from Venus Metals’ management or other potential bidders. The next few weeks will be critical in determining whether QGold can consolidate control or if the bid will falter.