The British investment company Ajax Resources Plc has entered into a preliminary agreement with Appian Capital Advisory to acquire the Pereira Velho gold mining project in Brazil. This is reported in the Ajax press release.
As part of the deal, Ajax will acquire 100% of the shares of Brazilian Pereira Velho Exploração S.A. (PVESA), which owns the Pereira Velho project in the state of Alagoas. The transaction is expected to be completed at the end of January 2026, subject to the signing of a final agreement.
The transaction value includes an upfront payment of $600,000 in cash and shares, as well as additional payments of $1.5 million if resources of at least 350,000 ounces are confirmed. Ajax is planning a two-stage work program, including drilling wells at a depth of 3 thousand meters.
As part of the deal, Appian, which has an asset value of $5 billion, will become a major Ajax shareholder through the acquisition of new shares. The agreement also provides for the payment of royalties in the amount of 2.5% of net profit if average gold prices exceed $2.5 thousand per ounce within two quarters. At the same time, Ajax will retain the right to repurchase.
The Pereira Velho project is located 20 km from the former Serrote copper and gold mine, acquired in 2018 for $30 million from Appian and sold earlier in 2025 for $420 million, highlighting the geological potential of the region.
Ajax Resources Plc is a British investment company in the field of energy and natural resources. The company is engaged in the acquisition of deposits of copper, gold, zinc, uranium and lead. One of Ajax's flagship projects is the Eureka project, which includes 12 licenses and is located in northern Argentina. The headquarters is located in London (UK).
Appian Capital Advisory is one of the world's largest private equity groups in the mining sector. The company acquires stakes in mining companies, combining high-quality assets with long-term capital. Appian operates 14 companies in Australia and Brazil. The headquarters is located in London (UK).
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