# Western Metallica Extends Ajax Resources Option on Nueva Celti Copper Project to November 30, 2026

> Western Metallica pushed its exclusivity and binding option with Ajax Resources to November 30, 2026.

- Published: 2026-10-29T22:26:26+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-29/western-metallica-ajax-nueva-celti-option
- Source: [Business Wire](https://www.businesswire.com/news/home/20261029042179/en/)

## Key takeaways

- Ajax Resources holds an exclusive and irrevocable option to acquire 100% of Western Metallica, S.L., the Spanish subsidiary that owns the Nueva Celti Copper Project in Andalusia.
- The exclusivity period now runs to November 30, 2026, extended from the terms set in releases dated August 7, 2026 and September 23, 2026.
- TSXV conditional approval covers the transaction subject to closing conditions that include shareholder approval.

Western Metallica Resources Corp. extended the exclusivity period to November 30, 2026 on its Exclusivity and Binding Option Agreement with Ajax Resources PLC, under which Ajax holds an exclusive and irrevocable option to acquire 100% of the Spanish subsidiary that owns the Nueva Celti Copper Project. [Business Wire](https://www.businesswire.com/news/home/20261029042179/en/) published the announcement on October 29, 2026.

## Ajax's Option on the Nueva Celti Subsidiary

[Western Metallica Resources](https://akta.pro/company-profiles/0000tzu/western-metallica-resources) is an Ontario company headquartered in Toronto whose principal asset is its 100% owned Penedela Gold Property in the Navelgas Gold Belt in Asturias, Spain. [Ajax Resources](https://akta.pro/company-profiles/0098ogi/ajax-resources) holds the option through the agreement, and the target is Western Metallica, S.L., a fully owned Spanish subsidiary that owns the Nueva Celti Copper Project in Andalusia, Spain.

The option gives Ajax the right to acquire 100% of the issued share capital of that subsidiary. Western Metallica said it has received TSXV conditional approval for the transaction, subject to completion of various closing conditions, including shareholder approval. The company pointed to its news releases dated August 7, 2026 and September 23, 2026 for the earlier terms.

Ajax Resources confirmed admission of its ordinary shares to Euronext Growth Oslo, with trading starting October 26, 2026 under ticker AJAXR, according to TradingView. The company admitted 149,325,292 shares, and its shares continue to trade on the Aquis Growth Market.

## Western Metallica's Funding and Exploration Profile

According to akta.pro [company records](https://akta.pro/company-data), Western Metallica raised approximately $269,734 in an equity financing in May 2026, the second-largest capital raise in its history. The same records list four funding rounds on file, including a $325,000 post-IPO equity round in November 2024 and a $69,469 post-IPO debt round in January 2025.

The records describe the company as pre-revenue and in the exploration stage, with no current revenue from mineral production. Its exploration projects include the Nueva Celti Copper Property and three gold projects in Asturias.

## Earlier Steps Toward the Nueva Celti Option

On September 23, 2026, Gurufocus reported that Ajax Resources had secured an exclusive option to acquire 100% of Western Metallica's Spanish subsidiary owning the Nueva Celti Copper Project. On August 7, 2026, Yahoo carried Western Metallica's announcement of the Exclusivity and Binding Option Agreement for the project.

At its Annual General and Special Meeting held on June 25, 2026, shareholders elected all three board nominees with approximately 94% of votes in favor, Financial Post reported on June 26, 2026.

## November 30 Deadline for the Exclusivity Period

The extended exclusivity period runs to November 30, 2026, the date the company gave for the option agreement with Ajax Resources.

## Companies in this story

- [Western Metallica Resources company profile](https://akta.pro/company-profiles/0000tzu/western-metallica-resources) · website: https://www.westernmetallicacorp.com
- [Ajax Resources company profile](https://akta.pro/company-profiles/0098ogi/ajax-resources) · website: https://www.ajaxresources.com

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