What did Nex Metals Explorations (ASX:NME) announce regarding its partnership with the Wangkatja Tjungula Aboriginal Corporation?

Nex Metals Explorations has executed a binding term sheet with the Wangkatja Tjungula Aboriginal Corporation (WTAC) to form a gold exploration and mining joint venture in Western Australia.

How is the ownership and corporate structure of the Nex Metals (ASX:NME) joint venture split?

WTAC will hold a 60% majority stake in the newly formed joint venture company, while Nex Metals will retain the remaining 40% share. This structure reflects each party's respective contributions of capital, cultural knowledge, technical leadership, and operational expertise.

How will the Nex Metals (ASX:NME) and WTAC joint venture be funded?

WTAC is providing 100% of the initial joint venture funding via an unsecured loan. This loan is fully repayable to WTAC from the joint venture's future mining and exploration operations.

What are Nex Metals’ (ASX:NME) operational responsibilities and financial returns in this deal?

Nex Metals will lead project identification, asset acquisition, and operational execution. In return for these technical services, NME will earn a management fee alongside its 40% share of the joint venture's distributable net proceeds.

Who is leading the operations for the new Nex Metals (ASX:NME) gold joint venture?

Industry veteran Jason Livingstone has been appointed to lead the joint venture’s operations. Livingstone is an experienced geologist with more than 25 years of experience across exploration, feasibility, and production environments.

What is the management strategy behind the Nex Metals (ASX:NME) and WTAC partnership?

Management aims to combine WTAC’s capital, local workforce, and environmental knowledge with NME's technical expertise to acquire and develop regional gold assets. The strategy focuses on driving shareholder returns while simultaneously securing local employment and commercial services opportunities for WTAC communities.

Does Nex Metals (ASX:NME) have any gold projects lined up for this joint venture yet?

The joint venture does not yet own specific new projects, but confidential negotiations and due diligence are currently underway for potential acquisitions. Initially, the joint venture company will target gold exploration and mining opportunities located within Western Australia.

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Nex Metals and WTAC form WA gold venture

Written by Mahathir BayenaPublished May. 21 2026Last Updated May. 21 2026

Nex Metals Explorations (ASX:NME) has formalised a binding term sheet with the Wangkatja Tjungula Aboriginal to establish a gold exploration and mining joint venture in Western Australia.

The agreement expands on an earlier Memorandum of Understanding between the two parties, who previously partnered on the Kookynie Gold Tailings Project.

Under the new corporate structure, WTAC will hold a 60% majority stake in the joint venture company and provide 100% of the initial funding via an unsecured loan repayable from future operations.

Nex Metals will retain a 40% share and lead project identification, acquisition, and operational execution. In return, NME will earn a management fee alongside its 40% share of distributable net proceeds.

The partnership combines WTAC’s capital, local workforce, and cultural knowledge with NME’s technical and operational expertise.

Industry veteran Jason Livingstone, a geologist with over 25 years of experience across exploration and production, has been appointed to lead the joint venture's operations.

Nex Metals Managing Director Ken Allen stated that the partnership is designed to deliver responsible gold project development while supporting local participation and employment for WTAC communities.

Formal joint venture documentation is expected to be finalised within 180 days, with confidential negotiations and due diligence already underway for potential project acquisitions.