Aston Minerals Limited has announced that its proposed merger with Torque Metals Limited has now become legally effective following the approval of the schemes of arrangement by the Supreme Court of Western Australia. The court orders, lodged with the Australian Securities and Investments Commission on 28 May 2025, confirm that Torque Metals will acquire all fully paid ordinary shares of Aston Minerals, in addition to the unlisted options held under the ASOAH class. Under the terms of the agreement, shareholders of Aston Minerals holding shares at 5:00pm AWST on 2 June 2025 will receive one Torque Metals share for every 5.2 Aston Minerals shares they own. Additionally, optionholders holding the scheme options as of the record date will receive one Torque Metals share for every 2,500 options. The full implementation of the scheme, including the issuance of the consideration shares, is scheduled for 10 June 2025. Trading of Aston Minerals securities on the ASX is expected to be suspended at the close of trading on 29 May 2025, with the official quotation terminated by the close on 10 June 2025. Traders, especially those new to the market, may find reassurance in the transparent timetable and pre-determined share conversion ratios, which leave little ambiguity regarding shareholder entitlements during the merger process. The clear regulatory steps, including the lodgement of court orders and the precise record and implementation dates, provide a structured path forward that underpins the effectiveness of the schemes. The news presents a mix of bullish and bearish sentiment. On the bullish side, the merger is expected to unlock value through potential operational synergies and a strengthened balance sheet, which can be appealing to long-term investors. The definitive share conversion ratios and scheduled timeline may also offer confidence to investors seeking clarity during corporate actions. On the bearish side, the suspension of trading may raise short-term liquidity concerns for traders who prefer active markets, and some market participants might remain cautious until further details on the strategic integration and future financial performance of the combined entity are revealed.