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The latest update is out from Midas Minerals Limited ( (AU:MM1) ).
Midas Minerals Limited has completed the acquisition of the Otavi Copper Project in Namibia from Nexa Resources, securing 10 exclusive prospecting licences over 1,776km² in a historically mineral-rich district where less than 40% of the tenure has seen modern exploration. The company has already begun an aggressive drilling campaign, with diamond rigs targeting resource definition at the high-grade T-13 copper-silver deposit, reverse circulation drilling underway at the Spaatzu prospect, and further drilling on the Deblin copper-gold-silver deposit and across the South Otavi Project scheduled for early 2026. Backed by approximately A$15.3 million in cash as at 30 September 2025, Midas is well funded to accelerate exploration at Otavi and South Otavi, aiming to rapidly build a resource base that could be transformational for its growth and enhance its position in the copper and precious metals exploration sector.
More about Midas Minerals Limited
Midas Minerals Limited is a junior mineral exploration company focused on copper and precious metals, with assets in Namibia, Western Australia and Canada. Its portfolio includes the high-grade Otavi Copper Project and an option over the nearby South Otavi Project in Namibia, as well as the Newington and Challa gold and base metals projects in Western Australia and two lithium projects, Aylmer and Greenbush, in Canada, positioning the company across key battery and precious metal commodities.
Average Trading Volume: 190,315
Technical Sentiment Signal: Buy
Current Market Cap: A$114M
See more insights into MM1 stock on TipRanks’ Stock Analysis page.