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Nexus Minerals Ltd (NXM.AX)

NXM.AX on Australia Stock Exchange

0.14AUD
25 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Nexus Minerals entered into farm-in and JV agreement with Saracen Gold mines
Wednesday, 16 Sep 2015 08:37pm EDT 

Nexus Minerals:Entered into farm-in and joint venture agreement over pinnacles gold project with saracen gold mines pty ltd.Agreement includes ore sale and purchase clause for processing of potential ore from project at saracen's carouse dam gold processing facility.Under agreement, Nexus is sole manager of pinnacles gold project and can earn up to 85% of project, by satisfying staged farm-in milestones.  Full Article

Nexus Minerals Ltd announces farm-in & joint venture agreement for up to 100 pct. of project
Tuesday, 14 Oct 2014 08:00pm EDT 

Nexus Minerals Ltd:Says that it has entered into a farm-in and joint venture agreement over the Triumph Gold Project.Under the term Nexus is the sole manager of the Farm-In and Joint Venture (JV) from the commencement date.In the first year $50,000 cash deposit to be paid to the vendor 14 days from the date of the JV agreement being signed by both parties(75 pct. of deposit funds to be spent in the ground by the vendor).Says in the first year Nexus to spend $200,000 on the project to earn 40 pct. interest.Nexus to spend $250,000 on the project to earn a further 20 pct interest.Says in the fifth year the vendor can elect to contribute to the JV expenditure in proportion to its interest.Says if the vendor elects not to contribute to JV expenditure, then Nexus can sole fund $150,000 of expenditure to earn a further 15 pct. interest (95 pct.).Nexus will retain an option to acquire the remaining 5 pct. in consideration of granting the vendor a 1 pct. net smelter royalty capped at $2,000,000.  Full Article

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