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Nexcel Metals Corp ( (TSE:NEXX) ) just unveiled an update.
Nexcel Metals Corp. has entered into an agreement to acquire a 58% interest in the Burnt Hill Project in New Brunswick, Canada, from Cadillac Ventures Inc. This acquisition involves cash and share payments totaling $CDN 1.425 million over two or more years. The Burnt Hill Project, known for its tungsten and molybdenum resources, is strategically important due to tungsten’s critical role in high-tech and defense applications. The transaction’s completion is contingent on a definitive agreement, financing, and regulatory approval, potentially enhancing Nexcel’s position in the mining industry.
More about Nexcel Metals Corp
Nexcel Metals Corp. is a junior mining company focused on the acquisition, exploration, and development of mineral properties, with a current emphasis on the Lac Ducharme Property in Québec.
Average Trading Volume: 4,925
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