Menu

Australian Shares is the world's biggest free online database of information on Australian resource companies.

Time to Update your company profile
Australian Shares

NEX METALS EXPLORATION LIMITED

ASX: NME

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Nex Metals has stabilised its balance sheet and, with Cash at end of March 2014 of $1,174,000, is well placed to take up opportunities presented.

The Company has had a number of projects presented to it for evaluation during the March 2014 quarter - extending from copper, iron ore, iron ore sands and coal. In light of the current economic market and commodity prices, the Company is reviewing some presentations prudently. Whilst a number of project evaluations are underway, Nex are looking to favour an advanced stage project given the current market environment.

Yundamindera Gold Project

Nex Metals has signed an agreement to earn a 70% managing interest in the Yundamindera Gold Project from Saracen Gold Mines Pty Ltd, a 100% owned subsidiary of Saracen Mineral Holdings Ltd. Under the terms of the agreement Nex can earn the 70% interest by spending $1.5M on the mining tenements within a 3 year time frame. The project comprises 9 granted mining leases covering 46.2 kmē with wide spread gold mineralisation present.

Kookynie Gold Project

Located 200 km north of Kalgoorlie and 50 km south of Leonora on the main gold trend, the project contains historical mining activity with some established historical estimates, delineated by Sons of Gwalia and Resource Evaluation Pty Ltd among others, within this gold field.

Mine For

gold

Location of operation(s)

Western Australia

Address

Unit 9, 95 Canning Highway
SOUTH PERTH, WA, AUSTRALIA

Phone

08 9221 6813

Email

Website


Last Updated

13/5/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.