Midas Minerals Ltd (ASX: MM1) has entered into a binding agreement to acquire a portfolio of 10 Exclusive Prospecting Licences (EPLs) from Brazilian base metals major Nexa Resources S.A. (NYSE: NEXA). Covering 1,776km² in Namibia’s highly prospective Otavi Mountainland, the Otavi Project includes two advanced copper-gold-lead-zinc deposits (T13 and Deblin) with significant resource potential and multiple drill-ready regional targets.
Under the acquisition terms, Midas will pay Nexa an upfront US$3 million, with further deferred payments totaling US$7 million tied to a pre-feasibility study, mine development decision, and commercial production milestones. Nexa will also retain a 1% NSR royalty, with Midas holding a buyback right for 50% at US$2 million. The Otavi region offers world-class infrastructure and historical production of over 1.5Mt copper and 5Mt lead-zinc but has seen minimal modern exploration. Midas plans immediate drilling post-completion, combining resource definition and regional exploration to unlock value rapidly.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
