Newington covers approximately 212 square kilometres at the northern end of the Southern Cross greenstone belt across underlying tenement interests ranging from 70% to 100%. On July 21, 2026, after satisfaction of the conditions precedent, Midas completed the sale to Forrestania Resources of 100% of the share capital of Midas Minerals (Newington) Pty Ltd, the subsidiary holding the project. Midas retains rights to contingent consideration payable in cash or shares at Forrestania's election: A$1 million on delineation of an initial Mineral Resource or extraction of 50,000 ounces of gold using a 0.5 g/t Au cut-off, A$200,000 for each additional 10,000 ounces delineated or extracted, and A$1 million upon a decision to mine.
- Country
- Australia
- Commodity
- Au
- Stage
- Exploration