Nexus Minerals Limited (ASX:NXM) has agreed to acquire the remaining 10% interest in the Pinnacles Gold Project from Northern Star Resources. This transaction will grant the company full ownership of the site, effectively ending the existing joint venture arrangement between the two parties.

The purchase consideration involves granting Northern Star a 1.5% net smelter return royalty. Under the terms of the agreement, the company retains a buyback option allowing it to repurchase 0.5% of this royalty for a payment of $550,000 at any time. The deal is expected to reach completion by 30 September 2026, subject to customary conditions, including ministerial consent and the resolution of legacy royalty agreements.

Securing full ownership provides the company with direct control over future development decisions at the project. Following the formal completion of the acquisition, the company plans to advance operations by submitting a comprehensive mine development and closure plan for the site, which is located 100km northeast of Kalgoorlie in Western Australia.

This strategic move aligns with the company’s broader portfolio management in the Eastern Goldfields. The company currently maintains a substantial 192km² land package at its nearby Wallbrook Gold Project, which sits adjacent to Northern Star’s operations. 

Read the full announcement: Nexus Move to 100% Ownership of the Pinnacles Gold Project