Native Mineral Resources acquires Queensland projects

The deal, NMR MD Blake Cannavo said on Friday, would propel the company from a junior explorer to a potential gold producer in less than two years.

NMR signed a binding agreement with Collins St Convertible Notes to acquire the strategic assets, including the Far Fanning and Black Jack deposits as part of a deed of company arrangement approved by creditors.

The company will acquire the assets, located in the mineral-rich Ravenswood-Charters Towers region, for A$ 18.9 million, over 33 months with a 2% perpetual royalty on gold production.

https://www.miningweekly.com