MGX completes $50m Central Tanami JV acquisition
Midtier miner MGX Resources has completed its acquisition of a 50% interest in the Central Tanami Gold Project Joint Venture (CTPJV) in Australia’s Northern Territory, finalising a transaction with Northern Star Resources for A$50-million.
The company said all conditions precedent set out in its July 2025 announcement had been satisfied or waived, allowing MGX to make the payment and conclude the deal. It has also replaced existing bank guarantees totalling about A$5.8-million, with normal completion adjustments still to be finalised.
The joint venture is held with Tanami Gold and covers one of Australia’s highest-grade undeveloped gold projects.
MGX CEO Peter Kerr said the company was pleased to complete the transaction ahead of schedule.
“We are extremely pleased to formally complete the Central Tanami project joint venture acquisition ahead of schedule, and we appreciate the positive engagement of all key parties, including Northern Star, our new CTPJV partner Tanami Gold and the Central Land Council which represents the local Traditional Owners,” Kerr said.
He added that near-term efforts would focus on project development and approvals.
“Work in the near term will focus on defining the development plan, securing relevant approvals and accelerating development activities. This project represents a substantial transformational opportunity to establish a new long-life Australian gold business in a strongly positive gold price environment.”
The Central Tanami project hosts estimated mineral resources of 31-million tonnes grading 2.8 g/t gold for about 2.8-million ounces of contained gold, under the Joint Ore Reserves Committee 2012 code. This includes 11-million tonnes at 3.3 g/t gold for 1.2-million ounces within the core Groundrush deposit.
In addition to the joint venture interest, MGX has acquired about 3 600 km2 of granted and pending exploration tenure in the Central Tanami region outside the joint venture area.
