First Development Resources to Offload Non-core Western Australia Assets

02:57 AM EDT, 09/29/2026 (MT Newswires) -- First Development Resources (FDR.L) agreed to sell its stakes in the Braeside West and Ripon Hills projects in Western Australia to Accelerate Resources in an all-stock deal. The exploration company will receive 25 million Accelerate Resources shares in consideration, according to a Tuesday filing. Subject to certain conditions, the deal is expected to close on Oct. 2. The company will continue to maintain exposure to the potential future value of the assets through its ownership in Accelerate Resources without directly funding the projects.