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We’re pleased to confirm that on 17 June 2025, the Supreme Court of Western Australia granted approval for the Scheme of Arrangement enabling Blackstone Minerals Limited to acquire 100% of IDM International. This critical legal milestone allows us to implement the Scheme and move forward.

Implementation Date Friday 27 June 2025 

First Day of Trading as “BSX” Monday 30 June 2025 

IDM shareholders will receive 7.4 Blackstone shares per IDM share, equating to an implied equity value of A$18.7 million (around A$0.20/IDM share)

This all-scrip merger enhances shareholder liquidity and preserves leveraged exposure to both Mankayan and Blackstone’s existing projects, including the Ta Khoa Nickel Project 

FINANCIAL BENEFITS include expanded access to capital, improved market profile, and potential for inclusion in institutional portfolios 

🌍 Strategic Focus: Mankayan Copper-Gold Porphyry

Now fully integrated, our focus shifts to advancing the Mankayan Project in the Philippines — one of the world’s largest undeveloped copper-gold porphyries 

Identification of visible gold in angled diamond drilling, enhancing geological understanding 

A historic memorandum of agreement (MoA) secured with local Indigenous communities in December 2024 – a first for the region

These achievements reinforce the geological and social license foundations for accelerated exploration and development.

June 27: Scheme becomes effective — Blackstone fully acquires IDM.

June 30: Commencement of trading under the merged entity as BSX.

Near term: Drilling acceleration, resource definition, metallurgical testing, and feasibility planning at Mankayan.

This all-scrip merger strengthens our platform with:

Greater liquidity and institutional visibility

Consolidated technical expertise, financial resources, and infrastructure

We thank our shareholders for your ongoing support and confidence. The combined entity is now strategically positioned to realise the full development potential of Mankayan and deliver long-term value.

For detailed information, please refer to our ASX announcements and updates on the IDM website.

📣 Investor Update – June 2025