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An update from QX Resources Ltd ( (AU:QXR) ) is now available.
QX Resources Limited has announced a binding term sheet with Nightrise Nominees Pty Ltd and Kalkam Pty Ltd for the farm-out of a 75% interest in the iron ore rights at its Western Shaw Project. This agreement requires the purchaser to spend at least $1 million on exploration within a year, with QX Resources retaining a 25% interest and a royalty on production. The transaction is expected to leverage the expertise of the new partners to unlock the potential of the Western Shaw site, enhancing QX Resources’ strategic position in the iron ore sector.
More about QX Resources Ltd
QX Resources Limited is a company operating in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily involved in iron ore projects, with a significant emphasis on the Western Shaw Project in the Pilbara region of Western Australia.
Technical Sentiment Signal: Sell
Current Market Cap: A$5.24M
For detailed information about QXR stock, go to TipRanks’ Stock Analysis page.
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