NXM.ASX: Nexus Move to 100% Ownership of the Pinnacles Gold Project

Nexus Move to 100% Ownership of the Pinnacles Gold Project

Stock	Nexus Minerals Ltd (NXM.ASX)
Release Time	8 Jul 2026, 8:44 a.m.
Price Sensitive	Yes

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Nexus Minerals Acquires Full Ownership of Pinnacles Gold Project

Key Points

Nexus Minerals has acquired the remaining 10% of the Pinnacles Gold Project from Northern Star Resources
The acquisition brings Nexus' holding to 100% of the project
Transaction is set to complete by 30 September 2026

Full Summary

Nexus Minerals Limited (ASX:NXM) has acquired the remaining 10% interest in the Pinnacles Gold Project from Northern Star Resources Limited, bringing its total ownership to 100%. The transaction, which is set to complete by 30 September 2026, involves Northern Star selling its 10% interest in exchange for a 1.5% net smelter return royalty. Nexus has the option to buy back 0.5% of the royalty by paying $550,000 to Northern Star at any time. The Pinnacles Gold Project, located 100km northeast of Kalgoorlie in Western Australia, hosts a JORC 2012 Combined Mineral Resource Estimate of 609,000t @ 4.0g/t Au for 78,000oz (O/P+U/G) and a U/G MRE of 450,000t @ 4.6g/t Au for 66,000oz Au. The project has cleared flora and fauna surveys, metallurgical test recoveries of ~97%, and a native vegetation clearing permit valid to November 2030.