Capricorn Metals Ltd (ASX:CMM) entered into a binding agreement to acquire Claw Gold Project from BPM Minerals Limited (ASX:BPM) for AUD 3 million on July 9, 2025. Under the terms of the transaction, Capricorn Metals Ltd paid an initial payment of AUD 1.5 million. This includes a AUD 100,000 cash deposit and an additional AUD 0.5 million cash payment upon completion. The remaining AUD 0.9 million can be settled either in Capricorn Metals Ltd shares or cash. Additionally, Capricorn Metals Ltd also agreed to make contingent deferred milestone payments totaling AUD 1.5 million. These payments are divided into two parts: AUD 0.75 million will be paid when Capricorn Metals Ltd announces a JORC-compliant Mineral Resource exceeding 75,000 ounces of gold, and another AUD 0.75 million will be paid upon Capricorn Metals Ltd's board decision to initiate a commercial mining operation at the Claw Gold Project. As of July 17, 2025, Capricorn Metals Ltd has issued a total of 0.09 million fully paid ordinary shares as consideration for the acquisition of Claw Gold Project.

The transaction is subject to customary representations and warranties, and consummation of due diligence investigation. Completion of the acquisition is expected to occur in July 2025.