Inflection Resources to Acquire Portfolio of Australian Copper-Gold Projects from Newmont
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Inflection Resources has entered into definitive agreement to acquire an 100 percent interest in a portfolio of Australian copper-gold exploration projects in New South Wales and the Northern Territory from subsidiaries of Newmont Corporation.
“We are pleased to announce the acquisition of this high-potential project portfolio, which represents the culmination of an extensive evaluation process. The Tennant East and Bell River projects meet our rigorous selection criteria, particularly regarding the scale and quality of individual exploration targets and concepts. These new projects complement our existing New South Wales portfolio and will be explored in parallel with our current AngloGold Ashanti-funded exploration program,” said Alistair Waddell, Inflection’s president and CEO.
“We look forward to applying our systematic, systems-thinking exploration approach to unlock the potential of these projects once the transaction is completed,” added Waddell.
HIGHLIGHTS
• Inflection shall acquire an 100 percent interest in a large portfolio of projects from Newmont which the company considers highly prospective for copper-gold in the Northern Territory and New South Wales.
• The Tennant East project located in Australia’s Northern Territory comprises twelve exploration licenses covering a number of Iron Oxide Copper Gold (IOCG) targets which have received minimal exploration work to-date.
• The Bell River project is located in the Macquarie Arc in central New South Wales. The company considers the project to be highly prospective for copper-gold porphyries, with the presence of outcropping lithocaps interpreted to represent the upper parts of preserved porphyry systems.
Bell River Agreement Terms: Inflection will acquire 100 percent interest in the Bell River project by issuing Newmont 1,000,000 common shares of the company. Inflection also agrees to pay Newmont a one-time payment of $1.6 million (AUD$2.5 million) upon completion of a JORC or NI43-101 compliant pre-feasibility study and $3.2 million (AUD$5 million) upon commencement of commercial production. Newmont will retain a 2 percent net smelter return (NSR) royalty on the project, of which Inflection may purchase 1 percent NSR for $3.2 million (AUD$5 million) at any time.
Tennant East Agreement Terms: Inflection will acquire 100 percent interest in the Tennant East project by issuing Newmont 250,000 common shares of the company and reimbursement of the 2025-26 tenement renewal fees. Newmont will retain a 1.5 percent NSR on the project, of which Inflection may purchase 0.5 percent NSR for fair market value after completion of a NI43-101 compliant pre-feasibility study.
The transactions are expected to close in several weeks upon transfer of the exploration licenses to the company’s wholly owned Australian subsidiary and the share issuance to Newmont.
Inflection Resources is a copper-gold focused mineral exploration company with projects in New South Wales and the Northern Territory of Australia. Inflection is part of the NewQuest Capital Group which is an entrepreneurial, discovery-driven investment group that builds value through the incubation and financing of early-stage mineral exploration projects globally.
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