@StocktakingFurther to my post above, if we assume the status...

@Stocktaking

Further to my post above, if we assume the status quo that NST must have novated or taken assignment of all SAR agreements during the merger, it follows that the Pinnacles JV with SAR/NST is still of foot (Andy said it was, anyway).

The NXM and HAW agreements are described on similar terms when signed. The NXM iteration is described as:

"The Agreement includes an Ore Sale and Purchase Agreement, whereby any future ore mined from the Project tenement will be purchased by Saracen for processing through its 2.4Mtpa CIL processing plant at Carosue Dam – 13km to the north of the project area. Under the Agreement, Nexus is the sole manager of the Pinnacles Gold Project and has achieved 90% ownership of the Project during the March 2020 quarter. Nexus and Saracen are part of a contributing joint venture with contributions made relative to the percent ownership."

The reason for leaving Pinnacles alone was probably more likely directed at the fall in gold price, and the realisation that underground (more expensive capex) was the economic option at current prices.

Why spend up large for a modest resource when Wallbrook could very well be massive - sell the whole damn thing to NST.