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The latest announcement is out from Nexcel Metals Corp ( (TSE:NEXX) ).
Nexcel Metals Corp. has entered into an option agreement to potentially acquire a 58% interest in the Burnt Hill Tungsten Project in New Brunswick, Canada, from Cadillac Ventures Inc. The agreement outlines a four-stage acquisition process involving cash payments and issuance of common shares. Upon acquiring a 51% interest, a joint venture will be formed with the current owners. The Burnt Hill Project is strategically important due to tungsten’s critical role in high-tech and defense applications, and the project could bolster Nexcel’s position in the mining industry.
More about Nexcel Metals Corp
Nexcel Metals Corp. is a junior mining company.
Average Trading Volume: 4,147
Learn more about NEXX stock on TipRanks’ Stock Analysis page.