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Native Mineral Resources Holdings Ltd. ( (AU:NMR) ) has provided an update.
Native Mineral Resources has signed a binding term sheet with Haoma Mining to secure exclusive 12‑month mining rights over the Podosky gold deposit in northern Queensland, previously part of their Ravenswood joint venture. Under the agreement, NMR will mine gold and silver at Podosky, haul ore 75km for processing at its Blackjack Operations, and pay Haoma A$4 million for the access.
Recent drilling at Podosky has confirmed shallow, high‑grade mineralisation that appears amenable to open‑pit mining, and Phase 1 drilling is now complete. The company is advancing geological modelling, pit optimisation, and mine planning with the aim of commencing blasting and mining in April 2026, reinforcing its strategy to use Blackjack as a processing hub and to generate 100% of the cash flow from Podosky while progressing its broader Charters Towers asset package.
The most recent analyst rating on (AU:NMR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Native Mineral Resources Holdings Ltd. stock, see the AU:NMR Stock Forecast page.
More about Native Mineral Resources Holdings Ltd.
Native Mineral Resources Holdings Ltd. is an Australian gold-focused mining company listed on the ASX and operating in northern Queensland. The company is developing a portfolio of gold assets, including the Blackjack Operations and the broader Charters Towers and Ravenswood project areas, with a strategy to centralise processing and generate cash flow from multiple nearby deposits.
Average Trading Volume: 2,695,446
Technical Sentiment Signal: Hold
Current Market Cap: A$85.7M
For an in-depth examination of NMR stock, go to TipRanks’ Overview page.