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Neometals Limited (ASX:NMT)

ALERT: Price-sensitive ASX Announcement for NMT
Current share price for NMT : $0.029 -0.027 (-48.21%)+
Announcement
Release
11 Dec 2025 8:16AM
Price at Release
$0.056
Full Release
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Summary
Neometals Ltd has announced a partnership with BML Ventures Pty Ltd for the development of the Ironclad Gold Deposit. The agreement involves a non-binding Letter of Intent (LOI) for a joint venture, focusing on the open-cut mining of the Ironclad site, which possesses an inferred mineral resource of 250,000 tonnes at 1.6 g/t gold. Under the LOI, BML Ventures will finance and manage the mining operations, and both parties will equally share the profits post cost recovery. A 90-day exclusivity period has been established for due diligence and agreement finalization, with the collaboration expected to enhance early production and bring value to Neometals' Barrambie Gold Project in Western Australia.
Key Points
  • Neometals Ltd has signed a Letter of Intent (LOI) with BML Ventures Pty Ltd for the Ironclad Gold Deposit development.
  • The LOI involves a production joint venture for open-cut mining at the Ironclad site.
  • The Ironclad Gold Deposit hosts an inferred mineral resource of approximately 250,000 tonnes at 1.6 g/t gold.
  • BML Ventures will fund and manage mining operations, with profits shared equally after cost recovery.
  • The LOI provides a 90-day exclusivity period for due diligence and finalization of agreements.
  • Neometals aims to leverage BML Ventures' expertise for realizing potential and early production at Ironclad.
  • The Ironclad site is part of the Barrambie Gold Project in Western Australia.
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.