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Nex Metals Explorations Ltd ( (AU:NME) ) has issued an announcement.
Nex Metals Explorations Ltd has entered into a binding joint venture with the Wangkatja Tjungula Aboriginal Corporation to pursue gold exploration and mining projects, initially in Western Australia. Under the structure, WTAC will hold 60% of the venture and fund operations via an unsecured loan, while Nex Metals will own 40%, lead project identification and operations, and receive management fees and a share of distributable net proceeds.
The alliance formalises and expands an existing memorandum of understanding and builds on the parties’ profit-sharing agreement for the Kookynie Gold Tailings Project, with metallurgical test work there continuing separately. The joint venture is designed to combine WTAC’s capital, workforce, and cultural and environmental knowledge with Nex Metals’ technical leadership, creating a platform for asset acquisitions, local employment, and expanded commercial services for WTAC, while broadening Nex Metals’ project portfolio without shareholder dilution.
More about Nex Metals Explorations Ltd
Nex Metals Explorations Ltd is an Australian gold project explorer and developer focused on identifying, acquiring, and advancing gold exploration and mining opportunities, primarily in Western Australia. The company leverages geological and operational expertise to progress projects such as the Kookynie Gold Tailings Project, often in partnership with local Aboriginal corporations to support responsible development.
Average Trading Volume: 101,558
Technical Sentiment Signal: Sell
Current Market Cap: A$6.37M
Learn more about NME stock on TipRanks’ Stock Analysis page.