What was the core reason for the transaction between Nexus Minerals and Northern Star Resources?

Nexus Minerals (ASX:NXM) acquired the remaining 10% interest from Northern Star Resources (ASX:NST) to eliminate the joint venture structure and gain 100% ownership of the Pinnacles Gold Project.

What are the operational resource and reserve details of the asset?

The Pinnacles Gold Project owned by Nexus Minerals (ASX:NXM) contains a combined mineral resource estimate of 78,000 ounces of gold. This resource consists of 609,000 tonnes at 4.0 grams per tonne of gold, which includes an underground resource of 450,000 tonnes at 4.6 grams per tonne of gold.

What is the target deadline for completing this corporate transaction?

Nexus Minerals (ASX:NXM) stated that the transaction with Northern Star Resources (ASX:NST) is scheduled to complete by Sept. 30.

What is the geographic location of the Pinnacles Gold Project?

The Pinnacles Gold Project owned by Nexus Minerals (ASX:NXM) is located 100km northeast of Kalgoorlie in Western Australia. The asset is also situated 15km south of the existing Carouse Dam Operations owned by Northern Star Resources (ASX:NST).

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Nexus Minerals acquires 100% of Pinnacles Gold Project

Written by Jon CuthbertPublished Jul 8, 2026, 12:43 AM

Nexus Minerals has acquired the remaining 10% interest in the Pinnacles Joint Venture Project from Northern Star Resources.
The transaction eliminates the joint venture structure and gives Nexus Minerals full ownership of the asset.
The company intends to consolidate its resource holdings and advance future underground mine development options.

Nexus Minerals (ASX:NXM) acquired the remaining 10% interest in the Pinnacles Joint Venture Project to reach 100% ownership.

The transaction simplifies asset control compared to the previous corporate joint venture structure.

Northern Star Resources (ASX:NST) accepted a 1.5% net smelter return royalty as consideration for the sale.

Nexus holds an option to buy back 0.5% of this royalty at any time for $550,000.

Following the announcement, the Nexus Minerals share price was unchanged at $0.05.

The Western Australian project is located 100km northeast of Kalgoorlie and contains 78,000 ounces of gold.

The company stated that the transaction is scheduled to complete by Sept. 30.