Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
The latest update is out from Metalicity Limited ( (AU:ARI) ).
Nex Metals Explorations Ltd is in non-binding discussions to potentially divest its 20% interest in the Yundamindra and Kookynie Joint Venture to Arika Resources Limited, which would make Arika the sole owner. The terms under discussion involve an upfront payment and additional shares contingent on future milestones, but the proposal is subject to regulatory and shareholder approvals, and no formal agreement has been signed yet.
More about Metalicity Limited
Nex Metals Explorations Ltd (ASX:NME) is a gold project explorer and developer focusing on a capital-light strategy to become a cash-generative gold-producing entity. The company has a project portfolio that includes the Yundamindra Gold Project and the Kookynie Tailings Project in Western Australia, and it has announced a strategic entry into Egypt’s Eastern Desert, a region known for its under-explored mining potential.
Average Trading Volume: 2,563,760
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$28.78M
See more insights into ARI stock on TipRanks’ Stock Analysis page.