InvestSMART

Nexus Minerals Limited (ASX:NXM)

ALERT: Price-sensitive ASX Announcement for NXM
Current share price for NXM : $0.053 0.003 (6%)+
Announcement
Release
4 May 2026 8:20AM
Price at Release
$0.050
Full Release
download
Summary
Nexus Minerals Limited has signed a Memorandum of Understanding (MOU) with Macro Gold Mining Services Pty Ltd (MGMS) to advance the development of the Crusader-Templar gold deposit in Western Australia. The MOU outlines a collaborative approach between Nexus and MGMS to establish an open-pit gold mining operation at the Wallbrook Gold Project. This agreement is a precursor to a binding contract, aiming for a profit-sharing model where Nexus will receive 60% and MGMS 40% of profits post cost recovery. The agreement includes provisions for MGMS to fund and manage the mining operation. With key permits in place, including a native vegetation clearing permit obtained in March 2026, Nexus is positioned to benefit from favorable gold prices. The MOU also focuses on securing an ore purchase agreement and further developing operational and mine design plans.
Key Points
  • Memorandum of Understanding signed between Nexus Minerals and Macro Gold Mining Services
  • MOU aims to develop the Crusader-Templar gold deposit at Wallbrook Project
  • Profit-sharing model proposed with 60% to Nexus and 40% to MGMS
  • MGMS to fund and manage the mining operation
  • Key permits, including native vegetation clearance, have been obtained
  • Discussions underway to secure an ore purchase agreement
  • Favorable gold prices enhance project potential
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.