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Proposed acquisition of Northern Territories Resources Pty Ltd intended to create a vertically integrated critical minerals production, processing and recovery platform with a pathway to near-term cash flow, accelerated commercialization and long-term growth
VANCOUVER, British Columbia, June 10, 2026 (GLOBE NEWSWIRE) -- NVRO Metals Limited (TSXV: NVRO), (“NVRO Metals” or the “Company”), a clean technology company focused on the recovery of precious and critical metals from sulphidic feedstock including ores, concentrates, mine waste and tailings, is pleased to announce the proposed acquisition of Northern Territories Resources Pty Ltd. (“NTR”). NTR is an Australian exploration and mining company whose assets, on completion of the proposed acquisition, will become the NVRO Metals Hub, a critical minerals production platform utilizing the NVRO Process™, located in Australia’s Northern Territory.
The NVRO Metals Hub located in Australia’s Northern Territory.
Figure 1: The NVRO Metals Hub located in Australia’s Northern Territory.
The establishment of the NVRO Metals Hub represents an important milestone in the Company’s history. Pursuant to a creditor-approved deed of company arrangement in Australia (the “DOCA”) executed on June 8, 2026, the Company’s wholly owned subsidiary, NVRO Metals (Australia) Pty Ltd, proposes to acquire all the issued and outstanding shares of NTR for total consideration of C$27.9 million. The consideration comprises a specified contribution of C$14.3 million payable within 75 days of execution of the DOCA, an environmental bond top-up of approximately C$2.3 million earmarked for the Northern Territory Government’s environmental bond requirements, a payment of C$10 million to the secured creditor and approximately C$1.3 million for transaction costs including stamp duty.
NTR is an Australian Northern Territory (NT) exploration and mining company whose principal assets include 48 NT tenements, comprising mining and exploration licenses, a fully constructed hydrometallurgical processing facility, associated infrastructure and a substantial polymetallic resource base. The installed plant, currently permitted as a hydrometallurgical plant, includes a tank leach plant and associated infrastructure required for the NVRO Process, with additional solvent extraction, electro winning, resin-in-pulp circuits capable of producing copper cathode and cobalt-nickel intermediate products in the near term. The acquisition will enable the Company to accelerate its transition from a pre-revenue mineral process technology developer into a vertically integrated precious and critical minerals processing, recovery and production platform.
The original construction cost was C$206 million (inflation-adjusted approximately C$310 million).
NTR’s assets also include a historic polymetallic oxide and sulphide mineral resource estimate containing copper, cobalt, silver, lead, zinc and nickel (based on a 2006 historic report under the JORC Code). The Company is working to verify and restate the estimate as a current mineral resource in the NI 43-101 technical report currently being prepared by the Measured Group.
Based on the engineering studies performed to date by PPM Global and the Company, the acquisition provides the industrial-scale infrastructure capable of accelerating deployment of the NVRO Process™ and the foundation for the Company’s centralized critical minerals processing hub strategy. During due diligence, the Company believed that a pathway to near-term copper, cobalt and nickel production and operating cash flow could be achieved with the existing oxide resources and installed plant.
Pending Resources Statement and Phase 1 Development
The Company’s Phase 1 development strategy is focused on near term production of copper cathode and cobalt/nickel intermediate products by heap leach, solvent extraction and electro winning (SX-EW) and precipitation of cobalt and nickel. Production is expected to commence by Q4 2027. The Company expects that the Measured Group will release a NI 43-101 report on the property, including both the oxide and sulphide resource within the next few weeks. The current Mine Management Plan (“MMP”) is care and maintenance and a variation to the MMP will be made to undertake the proposed Oxide Heap Leaching.
A drilling campaign is being planned to obtain samples of both oxide and sulphide orebodies for further testing. The sulphide resource will undergo pilot scale testing through the micro NVRO pilot plant at the Company’s Western Australia facility in 2H2026. This will provide the inputs for future feasibility and engineering studies to advance the technology maturity of the NVRO Process toward technology readiness level 9, full industrial scale commercial production.
Funding Pathway Advancing
The Company has substantially advanced a funding strategy designed to support the acquisition, refurbishment, commissioning and initial operations of the NVRO Metals Hub. The proposed funding package comprises a combination of commodity-linked financing package, government funding and equity financing. Management expects the proposed funding structure to provide sufficient capital to support the acquisition and planned Phase 1 development activities.
The Company has received a number of term sheets from metal traders for off take agreements of the copper cathode and cobalt / nickel products which include prepayment debt facilities. The strong interest and advanced discussions with established metal traders reflects confidence in both the quality of the underlying asset and the Company’s development strategy.
The funding pathway for the NVRO Metals Hub acquisition and project development is advancing. The completion of the proposed financing package and the acquisition remains subject to a number of conditions, including completion of definitive documentation, satisfactory due diligence, receipt of all required regulatory and stock exchange approvals, including acceptance of the TSX Venture Exchange (the “TSX-V”), and other customary conditions. Any securities issuances in connection with the proposed financing or the acquisition will also be subject to acceptance of the TSX-V, as applicable. There can be no assurance that the proposed financing package or the acquisition will be completed on the terms currently contemplated or at all.
A Platform for Long-Term Growth
jmho
Proposed acquisition of Northern Territories Resources Pty Ltd intended to create a vertically integrated critical minerals production, processing and recovery platform with a pathway to near-term cash flow, accelerated commercialization and long-term growth
VANCOUVER, British Columbia, June 10, 2026 (GLOBE NEWSWIRE) -- NVRO Metals Limited (TSXV: NVRO), (“NVRO Metals” or the “Company”), a clean technology company focused on the recovery of precious and critical metals from sulphidic feedstock including ores, concentrates, mine waste and tailings, is pleased to announce the proposed acquisition of Northern Territories Resources Pty Ltd. (“NTR”). NTR is an Australian exploration and mining company whose assets, on completion of the proposed acquisition, will become the NVRO Metals Hub, a critical minerals production platform utilizing the NVRO Process™, located in Australia’s Northern Territory.
The NVRO Metals Hub located in Australia’s Northern Territory.
Figure 1: The NVRO Metals Hub located in Australia’s Northern Territory.
The establishment of the NVRO Metals Hub represents an important milestone in the Company’s history. Pursuant to a creditor-approved deed of company arrangement in Australia (the “DOCA”) executed on June 8, 2026, the Company’s wholly owned subsidiary, NVRO Metals (Australia) Pty Ltd, proposes to acquire all the issued and outstanding shares of NTR for total consideration of C$27.9 million. The consideration comprises a specified contribution of C$14.3 million payable within 75 days of execution of the DOCA, an environmental bond top-up of approximately C$2.3 million earmarked for the Northern Territory Government’s environmental bond requirements, a payment of C$10 million to the secured creditor and approximately C$1.3 million for transaction costs including stamp duty.
NTR is an Australian Northern Territory (NT) exploration and mining company whose principal assets include 48 NT tenements, comprising mining and exploration licenses, a fully constructed hydrometallurgical processing facility, associated infrastructure and a substantial polymetallic resource base. The installed plant, currently permitted as a hydrometallurgical plant, includes a tank leach plant and associated infrastructure required for the NVRO Process, with additional solvent extraction, electro winning, resin-in-pulp circuits capable of producing copper cathode and cobalt-nickel intermediate products in the near term. The acquisition will enable the Company to accelerate its transition from a pre-revenue mineral process technology developer into a vertically integrated precious and critical minerals processing, recovery and production platform.
The original construction cost was C$206 million (inflation-adjusted approximately C$310 million).
NTR’s assets also include a historic polymetallic oxide and sulphide mineral resource estimate containing copper, cobalt, silver, lead, zinc and nickel (based on a 2006 historic report under the JORC Code). The Company is working to verify and restate the estimate as a current mineral resource in the NI 43-101 technical report currently being prepared by the Measured Group.
Based on the engineering studies performed to date by PPM Global and the Company, the acquisition provides the industrial-scale infrastructure capable of accelerating deployment of the NVRO Process™ and the foundation for the Company’s centralized critical minerals processing hub strategy. During due diligence, the Company believed that a pathway to near-term copper, cobalt and nickel production and operating cash flow could be achieved with the existing oxide resources and installed plant.
Pending Resources Statement and Phase 1 Development
The Company’s Phase 1 development strategy is focused on near term production of copper cathode and cobalt/nickel intermediate products by heap leach, solvent extraction and electro winning (SX-EW) and precipitation of cobalt and nickel. Production is expected to commence by Q4 2027. The Company expects that the Measured Group will release a NI 43-101 report on the property, including both the oxide and sulphide resource within the next few weeks. The current Mine Management Plan (“MMP”) is care and maintenance and a variation to the MMP will be made to undertake the proposed Oxide Heap Leaching.
A drilling campaign is being planned to obtain samples of both oxide and sulphide orebodies for further testing. The sulphide resource will undergo pilot scale testing through the micro NVRO pilot plant at the Company’s Western Australia facility in 2H2026. This will provide the inputs for future feasibility and engineering studies to advance the technology maturity of the NVRO Process toward technology readiness level 9, full industrial scale commercial production.
Funding Pathway Advancing
The Company has substantially advanced a funding strategy designed to support the acquisition, refurbishment, commissioning and initial operations of the NVRO Metals Hub. The proposed funding package comprises a combination of commodity-linked financing package, government funding and equity financing. Management expects the proposed funding structure to provide sufficient capital to support the acquisition and planned Phase 1 development activities.
The Company has received a number of term sheets from metal traders for off take agreements of the copper cathode and cobalt / nickel products which include prepayment debt facilities. The strong interest and advanced discussions with established metal traders reflects confidence in both the quality of the underlying asset and the Company’s development strategy.
The funding pathway for the NVRO Metals Hub acquisition and project development is advancing. The completion of the proposed financing package and the acquisition remains subject to a number of conditions, including completion of definitive documentation, satisfactory due diligence, receipt of all required regulatory and stock exchange approvals, including acceptance of the TSX Venture Exchange (the “TSX-V”), and other customary conditions. Any securities issuances in connection with the proposed financing or the acquisition will also be subject to acceptance of the TSX-V, as applicable. There can be no assurance that the proposed financing package or the acquisition will be completed on the terms currently contemplated or at all.
A Platform for Long-Term Growth
jmho
