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The latest update is out from Nex Metals Explorations Ltd ( (AU:NME) ).
Nex Metals Explorations Ltd has entered non-binding discussions with Arika Resources Limited to potentially divest its 20% interest in the Yundamindra and Kookynie Joint Venture, which would result in Arika Resources becoming the sole owner. The terms under discussion include an upfront payment in cash and shares, with additional shares contingent on future milestones. The proposal is subject to regulatory and shareholder approvals, and no formal agreement has been signed yet.
More about Nex Metals Explorations Ltd
Nex Metals Explorations Ltd is a gold project explorer and developer aiming to become a cash-generative gold-producing entity with a capital-light strategy. Its project portfolio 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.
Average Trading Volume: 143,524
Technical Sentiment Signal: Sell
Current Market Cap: A$6.71M
Find detailed analytics on NME stock on TipRanks’ Stock Analysis page.