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Eagle Mountain Mining Limited (ASX:EM2)

ALERT: Price-sensitive ASX Announcement for EM2
Current share price for EM2 : $0.006 -0.002 (-25%)+
Announcement
Release
5 Nov 2025 1:55PM
Price at Release
$0.008
Full Release
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Summary
Eagle Mountain Mining Limited has received a non-binding indicative offer from Nittetsu Mining Co., Ltd, a mid-tier Japanese company, to form a joint venture for the Oracle Ridge Project. Nittetsu plans to acquire an 80% interest by contributing US$20 million over four years, during which Eagle Mountain will be free-carried. The funds will be used for mining studies and other activities aiming for a Final Investment Decision by 2030. Nittetsu has requested a four-month exclusivity period for due diligence, which is expected to culminate in a binding agreement by early 2026. The agreement includes measures to extinguish existing debts and acquire necessary rights for the Oracle Ridge mine.
Key Points
  • Nittetsu to hold 80% JV interest in Oracle Ridge Project.
  • US$20 million contribution over four years by Nittetsu.
  • Eagle Mountain free-carried until contribution milestone is met.
  • Binding agreement expected by early 2026 upon successful due diligence.
  • Exclusivity period of four months granted to Nittetsu.
  • Funds to be used for mining studies and re-start decisions by 2030.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.