Aston Minerals (ASX:ASO) and Torque Metals (ASX:TOR) jointly announced on Tuesday, June 10, that the Supreme Court of Western Australia has approved their proposed merger. Initially revealed in January, the agreement will allow Torque to acquire all of Aston's fully paid ordinary shares. Aston is currently in the process of delisting from the ASX, with trading suspended since May 29. The company submitted its application for termination of official quotation and removal from the ASX on the same day the merger received approval. One of the key assets of the newly formed company will be Torque's Paris gold project, located in Western Australia.
Recent developments at Paris have been noteworthy, as Torque has announced the discovery of a new zone of shallow gold mineralisation at the site. Additionally, the company reported further high-grade results from its drilling campaign.
In May, Paris secured AU$144,500 from the Australian government’s Exploration Incentive Scheme, which the company plans to allocate towards upcoming drilling activities.
Torque Managing Director Cristian Moreno stated, “Our immediate focus is on better defining shallow gold lodes and progressing Torque's first mineral resource estimate along with our initial gold exploration target.”
Torque and Aston will collectively hold 1.75 million ounces of gold resources through their exploration projects, which are concentrated in the Western Australian Goldfields and Ontario, Canada. In 2025, gold continues to be a highly sought-after asset, with an anticipated record average annual price of US$3,210 per ounce. The new company will be headed by Moreno, who will serve as managing director. The board will also feature current Torque director Evan Cranston and Aston director Tolga Kumova.
