Latest Nex Metals Exploration (ASX:NME) News

Nex Metals returned to profit in FY2026 after selling its remaining Arika joint venture interest, but the gain did not resolve its underlying funding pressure. The company ended the year with $422,452 in cash, net liabilities of $471,232 and a material uncertainty over its ability to continue as a going concern.

Nex Metals Explorations and Wangkatja Tjungula Aboriginal Corporation have significantly enlarged their East Scotia Gold Project in Western Australia, submitting four new exploration licence applications that boost the project area to approximately 873.1 square kilometres.

Nex Metals and its Aboriginal partner WTAC have applied for a 100ha lease to build processing infrastructure for the Kookynie Tailings Project, while metallurgical tests show promising gold recovery rates and potential tungsten by-product.

Nex Metals Explorations and Wangkatja Tjungula Aboriginal Corporation’s joint venture is set to acquire the East Scotia Gold Project, adding a strategically located asset with promising geology and minimal recent exploration to their portfolio.

Nex Metals has advanced its Kookynie Tailings Project metallurgical testing, lifting gold recovery significantly and uncovering a promising tungsten by-product opportunity.

Nex Metals Explorations reports metallurgical test results confirming ~1 g/t gold grades at its Kookynie Tailings Project, alongside the unexpected identification of scheelite, a tungsten mineral, as a potential byproduct.

Nex Metals Explorations has finalised the sale of its 20% stake in the Yundamindra and Kookynie Gold Joint Venture to Arika Resources, securing $0.5 million in net cash and a significant shareholding. The move clears joint venture funding obligations and redirects capital towards advancing its Kookynie Tailings Project and Egyptian exploration.

Nex Metals has verified a 5-kilometre stretch of gold-bearing quartz veins at its North Henai project in Egypt, setting the stage for systematic assays and shallow diamond drilling within months.

Battery tech, biotech and balance-sheet repair drove the biggest gains this week, while guidance cuts and weak post-halt trading hurt several names. Deal-making and fresh equity funding stayed busy, especially in rare earths, defence and gold.

Coal, gold and critical minerals names drove the biggest share moves this week, but strong project news did not always lead to lasting gains. Several stocks jumped on funding, deals and study results, while others gave back early gains as traders locked in profit or worried about dilution.

Nex Metals Explorations and the Wangkatja Tjungula Aboriginal Corporation have formalised a joint venture to combine WTAC’s capital and cultural knowledge with Nex Metals’ technical expertise to pursue gold projects in Western Australia.

Nex Metals Explorations is progressing metallurgical test work at its Kookynie Tailings Project, targeting a capital-light gold production pathway and completion of drilling by October 2026.