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Nexus Minerals Limited (ASX:NXM)

ALERT: Price-sensitive ASX Announcement for NXM
Current share price for NXM : $0.041 -0.007 (-14.58%)+
Announcement
Release
8 Jul 2026 8:44AM
Price at Release
$0.048
Full Release
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Summary
Nexus Minerals Limited announced the acquisition of the remaining 10% stake in the Pinnacles Gold Project from Northern Star Resources Limited, thereby obtaining 100% ownership. The project, situated 100km northeast of Kalgoorlie, Western Australia, involves a JORC 2012 Mineral Resource Estimate with significant gold reserves and includes a granted mining lease. The transaction, involving a consideration of a 1.5% net smelter return royalty with a buy-back option, is set to conclude by the end of September 2026, pending certain conditions.
Key Points
  • Nexus Minerals Limited has acquired the remaining 10% of the Pinnacles Joint Venture Project from Northern Star Resources Limited.
  • This acquisition results in Nexus holding 100% ownership of the Pinnacles Gold Project.
  • The Pinnacles Gold Project is located 100km northeast of Kalgoorlie in Western Australia.
  • Northern Star agreed to sell its 10% interest in exchange for a 1.5% net smelter return royalty.
  • Nexus has the option to buy back 0.5% of the royalty for $550,000.
  • The transaction is expected to be completed by 30 September 2026, subject to certain conditions.
  • The project includes a JORC 2012 Combined Mineral Resource Estimate of 609,000t @ 4.0g/t Au for 78,000oz.
  • The project has a granted mining lease and necessary environmental permits.
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.