NMR secures exclusivity for joint venture in Charters Towers gold projects

Native Mineral Resources Holdings Limited (ASX: NMR) has entered a binding exclusivity agreement with Ashby Mining Ltd (Ashby) concerning the Far Fanning and Black Jack Projects. This arrangement is part of Ashby's asset divestment plan for its upcoming listing on the Australian Stock Exchange.

Under the agreement, NMR has the exclusive right to assess these projects thoroughly and holds the primary negotiation rights for a joint venture or acquisition for up to 12 months after the exclusivity period ends in mid-December 2023 if mutually agreeable terms cannot be established by that time. Upon reaching a binding joint venture agreement, NMR will obtain a 60% stake and finance exploration and mining with a minimum AU$2 million expenditure for the initial two years. Upon delivering 70,000 tonnes of ore with at least 0.6 grams per ton of gold, NMR's stake will increase to 85%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com