Native Mineral Resources (ASX:NMR) signed a term sheet with Haoma Mining to secure exclusive mining rights to the Podosky deposit in Queensland for AU$4 million, according to a Tuesday filing with the Australian bourse.
Once finalized, the deal will see Haoma Mining allowing the company to extract gold and silver from the deposit for 12 months and process ore at its Blackjack operations, the filing said.
Native Mineral Resources shares rose 1% in morning trade on Tuesday.
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