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Nexus Minerals Ltd. ( (AU:NXM) ) has provided an announcement.
Nexus Minerals has signed a non-binding memorandum of understanding with Macro Gold Mining Services to collaboratively develop the Crusader-Templar open pit gold deposit at its Wallbrook project in Western Australia. Under the proposed profit-sharing structure, MGMS will fund mine development, mining and operations, with profits shared 60% to Nexus and 40% to MGMS after cost recovery.
The agreement follows Nexus securing a key native vegetation clearing permit in March 2026, clearing a major regulatory hurdle for the project to proceed. Both parties are now in discussions with nearby processing plants to lock in an ore purchase agreement, aiming to move quickly into mining to leverage historically high gold prices above A$6,000 an ounce.
More about Nexus Minerals Ltd.
Nexus Minerals Ltd is an Australian gold exploration and development company focused on advancing its 100%-owned Wallbrook Gold Project in Western Australia. The company targets small to medium-scale open pit gold deposits, positioning itself to capitalise on strong Australian dollar gold prices through partnerships with specialised mining contractors and third-party processing plants.
YTD Price Performance: -28.57%
Average Trading Volume: 696,870
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$30.19M
See more insights into NXM stock on TipRanks’ Stock Analysis page.