Loyal Metals (ASX:LLM) completed the acquisition of the Highway Reward Copper-Gold Project in Queensland through its wholly owned subsidiary, Highway Copper Gold, under the sale and purchase agreement with Thalanga Copper Mines (TCM) and BML Holdings (BML), according to an Australian bourse filing on Aug. 21 after market hours.

The acquisition follows the company's exercise of its option in April after entering into a binding option agreement with the vendors in July 2025, per the filing.

In the same filing, Loyal Metals said its shareholders approved Bumi Resources' proposed acquisition of the company for AU$0.45 per share during a meeting on Aug. 20. It also secured the required consents from TCM and BML for the proposed transaction.

The transaction remains subject to court approval and other customary conditions, the company said.