NAG.ASX: Update - Proposed Alkane and Nagambie Joint Venture (ANJV)

Update - Proposed Alkane and Nagambie Joint Venture (ANJV)

Stock	Nagambie Resources Ltd (NAG.ASX)
Release Time	9 Feb 2026, 4:18 p.m.
Price Sensitive	Yes

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Nagambie Provides Update on Proposed Alkane Joint Venture

Key Points

Nagambie has provided a ROFR notice to Southern Cross Gold Consolidated Ltd
SX2 has until March 11, 2026 to match or better Alkane's proposed consideration
If SX2 does not exercise ROFR, Nagambie may proceed with the ANJV with Alkane

Full Summary

Nagambie Resources Limited (ASX: NAG) has provided an update regarding the proposed joint venture with Mandalay Resources Costerfield Operations Pty Ltd, a 100% subsidiary of Alkane Resources Ltd (Alkane), known as the Alkane and Nagambie Joint Venture (ANJV). As previously disclosed, a key condition for the proposed ANJV is the waiver or lapse of the Right of First Refusal (ROFR) held by Southern Cross Gold Consolidated Ltd (SX2) under the 2020 Share Subscription Agreement between Nagambie and Mawson Resources Ltd. Nagambie has now formally provided a ROFR notice to SX2. In accordance with the terms of the 2020 Agreement, SX2 has until 5:00pm (AEDT) on Wednesday, 11 March 2026 to match or better the fair-market cash and non-cash consideration offered by Alkane. By the expiry of the ROFR Notice Period, SX2 may elect to exercise its ROFR and enter into a transaction with Nagambie on the same or better terms than the proposed ANJV, or not exercise the ROFR, allowing Nagambie to proceed with the ANJV with Alkane.