MGX Resources (ASX:MGX) has completed its acquisition of a 50% interest in the Central Tanami Gold Project joint venture, marking an expansion into the Northern Territory’s gold sector.
Following the satisfaction of all conditions precedent from its July 2025 announcement, MGX paid a $50 million cash consideration to Northern Star Resources to finalise the deal.
The transaction also included the replacement of approximately $5.8 million in bank guarantees and the acquisition of 3,600km2 of 100% owned exploration tenure surrounding the project.
The CTPJV is recognised as one of Australia’s premier undeveloped gold assets, boasting an estimated 2.8 million ounces of gold at an average grade of 2.8 g/t.
MGX CEO Peter Kerr noted that the acquisition was completed ahead of schedule and described it as a "transformational opportunity" to establish a long-life mining operation.
Moving forward, MGX and joint venture partner Tanami Gold NL will focus on defining a formal development plan and accelerating site activities to capitalise on currently high global gold prices.