New Frontier Minerals Sells Broken Hill East Project to Impact Minerals.

New Frontier Minerals Limited has agreed to sell its wholly owned subsidiary, BHA No. 1 Pty Ltd, which holds the Broken Hill East Project, to Impact Minerals Limited (ASX: IPT). In exchange, NFM will receive AU$275,000 worth of IPT shares, valued at a 14-day VWAP of AU$0.0073 per share as of 7 March 2025. These shares will be subject to a six-month voluntary escrow arrangement, with one-sixth being released each month. IPT will also assume responsibility for a 2% net smelter return royalty on the project's tenements. Completion of the transaction is expected on 10 March 2025. 

This marks NFM’s third non-core asset divestment in recent months, enabling the company to focus on its Harts Range and NWQ Copper Projects. The company intends to retain its Mkushi Copper Project in Zambia until a suitable development partner is secured, aligning with the ongoing consolidation in the global copper sector.

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