Ajax Resources to Purchase Gold Project in Brazil

06:00 AM EST, 12/11/2025 (MT Newswires) -- Ajax Resources (AJAX.L) signed a heads of terms for its planned acquisition of Appian Capital Advisory-backed Pereira Velho Exploração, which holds the Pereira Velho gold project in Brazil. The proposed transaction includes an equity consideration of $400,000; a cash payment of $200,000 upon completion; a share-based fee of $1.5 million, subject to the publication of a JORC-compliant resource estimate; and a 2.5% net smelter return royalty, according to a Thursday filing. The natural resources investor noted that Appian, which will subscribe for $400,000 of new Ajax shares, could become a significant shareholder in the company as a result of the transaction.