NT Minerals Advances Major Asset Sales Amid Cash Crisis and Shareholder Vote

Corporate Maneuvers and Asset Sales

NT Minerals Limited (ASX, NTM) has taken significant steps to reshape its portfolio and shore up its financial position in the quarter ending June 30, 2025. The highlight was E79 Gold Mines Ltd exercising its option to acquire 100% of the Mountain Home Project, a move that included a renegotiated royalty structure reducing the net smelter return to 1%, capped at $1.5 million. This deal also grants Iguana Minerals, E79’s wholly owned subsidiary, the first right of refusal to purchase the royalty for $1 million.

Further, NT Minerals entered into an agreement with Golden Horse Minerals Ltd to sell the Redbank/Wollogorang Copper Project in the Northern Territory. The transaction, subject to shareholder approval at a meeting scheduled for August 7, 2025, involves a $1 million cash payment and $2 million worth of Golden Horse Minerals’ CDIs, which will be escrowed for 12 months. This sale marks a strategic divestment of key assets as the company navigates a challenging financial landscape.

Financial Position and Operational Activity

NT Minerals’ cash position remains precarious, with only $16,000 on hand at the end of the quarter, including a $15,000 term deposit. However, the company retains access to $1.56 million under a convertible note facility, though no further drawdowns have been made pending the outcome of the upcoming shareholder meeting. This tight liquidity underscores the urgency behind the asset sales and the company’s broader strategy to stabilise its finances.

Operationally, the quarter was quiet. There were no substantive exploration or mining production activities reported, with exploration expenditure limited to $34,000 primarily for project management and tenement rents. This lull in activity may reflect a strategic pause as NT Minerals focuses on corporate restructuring and asset monetisation.

Governance and Market Position

Earlier in the year, the company saw the resignation of Non-Executive Director Hugh Thomas, a change that may influence governance dynamics as NT Minerals moves through this transitional phase. Meanwhile, the company is progressing the sale of 12 million M2i Global shares received as part of an offtake agreement, with M2i shares currently trading at US$0.12 each. The outcome of this sale could provide additional liquidity.

NT Minerals’ portfolio remains extensive, with numerous tenements across the Northern Territory and Western Australia, though recent quarters have seen the surrender of some mining leases. The company’s focus appears to be on consolidating and monetising assets rather than expanding exploration in the near term.