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Nex Metals Exploration Limited (ASX:NME)

ALERT: Price-sensitive ASX Announcement for NME
Current share price for NME : $0.012 -0.01 (-45.45%)+
Announcement
Release
31 Jul 2025 8:20AM
Price at Release
$0.022
Full Release
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Summary
Nex Metals Exploration Limited (NME) released its activities and cashflow report for June 2023, focusing on its operations, financials, and corporate developments. The company provided updates on its gold exploration projects including the Kookynie and Yundamindra tenements, described ongoing legal proceedings with Metalicity Limited, and outlined efforts to secure new funding and potential joint venture partners. The report addressed compliance with ASX listing rules, summarised the use of funds, and disclosed related party payments. NME also noted the continued suspension of its securities from official quotation, pending further updates and resolution of corporate matters.
Key Points
  • NME continued work on its flagship Kookynie and Yundamindra gold projects.
  • The company reported minimal on-ground exploration due to financial constraints.
  • Legal proceedings with Metalicity Limited regarding disputed joint venture arrangements remain ongoing.
  • Efforts were ongoing to secure funding and potential new joint venture partners.
  • NME provided a summary of its cashflow, noting limited expenditure and related party payments.
  • The company addressed ASX compliance, including responses to queries and disclosure obligations.
  • NME’s securities remain suspended from quotation pending resolution of outstanding issues.
  • No production or development activities were reported during the period.
  • The company is reviewing asset development options and potential for future exploration.
  • NME outlined risks and uncertainties relating to funding and litigation outcomes.
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.