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Native Mineral Resources Holdings Limited (ASX:NMR)

ALERT: Price-sensitive ASX Announcement for NMR
Current share price for NMR : $0.073 0.003 (4.29%)+
Announcement
Release
17 Mar 2026 9:43AM
Price at Release
$0.070
Full Release
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Summary
Native Mineral Resources Holdings Limited (NMR) has entered into a binding agreement with Haoma Mining NL to secure exclusive mining rights at the Podosky gold deposit in northern Queensland. This agreement, effective for a 12-month period, allows NMR to mine gold and silver from Podosky, which was previously part of the Ravenswood Joint Venture. The material will be processed at NMR's nearby Blackjack Operations. The contract involves a $4 million payment to Haoma in staged installments. Recent drill results have reaffirmed the shallow, high-grade gold potential of the site, supporting NMR's plans for open-pit mining. The company is actively progressing geological modelling and other preparatory activities with mining projected to commence in April 2026, aligning with their broader strategy in the region.
Key Points
  • NMR has signed a binding term sheet with Haoma Mining NL for exclusive mining rights at Podosky.
  • Podosky was formerly part of the Ravenswood JV between NMR and Haoma.
  • The agreement allows NMR to extract gold and silver for 12 months.
  • NMR will process the material at its Blackjack Operations, 75km from Podosky.
  • The consideration for the exclusive rights is $4 million, paid in installments.
  • Recent drilling confirmed shallow, high-grade gold potential at Podosky.
  • Geological modelling and mine planning are underway, with mining to start in April 2026.
  • NMR continues to develop its Charters Towers and Podosky assets in parallel.
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.