Sign up Australia
Proactive Investors - Run By Investors For Investors

Nexus Minerals Ltd appoints Andy Tudor as managing director

Nexus has partnered with mid-tier gold producer Saracen Mineral Holdings at Pinnacles near Kalgoorlie. Pinnacles has the potential for near term gold production.
Nexus Minerals Ltd appoints Andy Tudor as managing director

Nexus Minerals Ltd (ASX:NXM) has appointed the experienced Andy Tudor as managing director.

Tudor has been CEO since July 2014, and has worked successfully in that time to assess a large number of prospective projects resulting in joint venture arrangements over the Pinnacles JV, Pinnacles Regional and Triumph projects.

The Pinnacles JV project is a partnership with mid-tier gold producer, Saracen Mineral Holdings Ltd (ASX:SAR) whereby Nexus can earn up to an 85% interest with a staged drilling and project development spend.

Pinnacles is located north-east of Kalgoorlie.

The Pinnacles opportunity

There is an opportunity to significantly grow the gold resource base and with it a near term production profile.

Nexus has sufficient cash to take the Pinnacles JV project to a “Decision to Mine”.

With $5.6 million cash on hand (May 2016) and a Pinnacles JV agreement with Saracen in place, the road to medium term production opportunity is significantly de-risked.

As Saracen will buy any ore produced under the JV agreement and process it at their 2.4Mtpa mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the Pinnacles JV project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Register here to be notified of future NXM Company articles
View full NXM profile

Nexus Minerals Timeline

Related Articles

October 21 2016
All drill results are expected to be included in the company’s maiden JORC resource.
January 14 2017
The firm owns 45% of the property, while joint venture partner Agnico Eagle has the rest (55%).
December 14 2016
The board is settled and the company is looking to press ahead with its various projects

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use