Key Developments: Nexus Minerals Ltd (NXM.AX)

NXM.AX on Australia Stock Exchange

20 Oct 2014
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Latest Key Developments (Source: Significant Developments)

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

Nexus Minerals Ltd appoints Andy Tudor as chief executive officer
Sunday, 6 Jul 2014 06:26pm EDT 

Nexus Minerals Ltd:Says that Andy Tudor has been appointed as the company's chief executive officer (CEO).Tudor has had role of general manager – project and corporate development for Nexus since Feb.  Full Article

Nexus Minerals Ltd Does Not Declare Dividend
Sunday, 29 Sep 2013 06:29pm EDT 

Nexus Minerals Ltd announced that no dividends were paid or declared by the Group during the year or since the end of the year.  Full Article

Nexus Minerals Limited To Acquire Tanzanian Tenements
Thursday, 17 Jan 2013 06:10pm EST 

Nexus Minerals Limited (Hemisphere Resources Ltd) announced the execution of a binding Memorandum of Understanding (MOU) to purchase two new tenement areas in Tanzania. The MOU executed in October 2012 to acquire prospective tenements in the Handeni region of Tanzania. The Biharamulo – HQ-P25831 tenement is located in north-western Tanzanian, near the town of Biharamulo. It hosts a gold occurrence in Proterozoic aged sedimentary rocks within a relatively poorly tested province. The tenement has an area of 23.7km2. The Proterozoic rocks form part of a mobile belt with potential to host gold in rafts of reworked Archaean greenstones, or as epithermal veins related to regional intrusives. The style of gold mineralisation will be investigated on a regional field trip in February 2013 which also assess geophysical and mineralogical targets identified at the Katamatoma project area 120km to the north. The Kigoma – PL7962/2012 tenement is located in central western Tanzania, covering an area of 29.7km2. The Kigoma region is considered prospective for base metals. Geologically the tenement overlies an ultramafic intrusive (5km x 2km) with potential to host disseminated metal sulphides (usually iron, but sometimes also copper and nickel). Two base metal occurrences (for copper and nickel) have been recorded on the margin of the intrusive, and may be related to bedrock mineralisation or to lateritic cover material, enriched by fluids derived from the gabbro.  Full Article

Nexus Minerals Ltd Decreases Stake In Aruma Resources Ltd By Over 50%
Wednesday, 19 Dec 2012 02:26am EST 

Aruma Resources Ltd announced that Nexus Minerals Ltd (formerly Hemisphere Resources Ltd) has decreased stake in the Company from 40,000,000 ordinary shares (61.26% of the voting power) to 5,000,000 ordinary shares (6.30% of the voting power). There was a change in the interests of Nexus Minerals Ltd on December 19, 2012 due to on market crossing of 35,000,000 ordinary shares for a consideration of AUD 1,575,000.  Full Article

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