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Nex Metals Explorations Ltd ( (AU:NME) ) has shared an announcement.
Nex Metals Explorations has agreed to divest its 20% interest in the Arika joint venture covering the Yundamindra and Kookynie Gold Projects to Arika Resources for $2.5 million in cash, largely offsetting more than $2 million in accrued JV contributions, plus 70.8 million Arika shares. The deal, timed to strong gold prices, crystallises value while preserving indirect exposure to the assets and is subject to shareholder approval at a May 2026 extraordinary general meeting.
The company advanced metallurgical test work at its wholly owned Kookynie Tailings Project, confirming existing NME and WTAC equipment suits a capital-light processing flowsheet and submitting bulk samples to ALS Metallurgy. Results will guide a drilling program scheduled to start in May 2026 and support broader strategic growth, including expanded Western Australian gold collaboration with WTAC and evaluation of entry into Egypt’s underexplored Eastern Desert.
More about Nex Metals Explorations Ltd
Nex Metals Explorations Ltd is an ASX-listed gold project explorer and developer focused on Western Australian goldfields and emerging opportunities in Egypt’s Eastern Desert. The company advances projects such as the Kookynie Tailings Project in partnership with the Wangkatja Tjungukla Aboriginal Corporation under profit-sharing and rehabilitation agreements.
Average Trading Volume: 141,293
Technical Sentiment Signal: Sell
Current Market Cap: A$6.04M
See more data about NME stock on TipRanks’ Stock Analysis page.