Pinnacle Minerals updates MOU status following Nexus and Del Sol acquisitions

Pinnacle Minerals Limited has provided an update regarding a non-binding Memorandum of Understanding (MOU) between APT Tungsten and Nexus Metals LLC. This follows the acquisition of Nexus Metals Pty Ltd by American Tungsten and Antimony Ltd, which subsequently finalized the acquisition of the Del Sol Facility in Nevada.

The Del Sol Facility is a permitted antimony refinery. While it currently lacks a tungsten processing circuit, studies are reportedly underway to potentially add ammonium paratungstate (APT) production capabilities. This acquisition addresses a key condition for potential future toll treatment or off-take arrangements for tungsten material from APT Tungsten’s Utah Projects.

Despite this progress, the MOU remains non-binding and does not grant APT or Pinnacle immediate access or rights to the Del Sol Facility. Pinnacle Minerals CEO William Witham noted that any future processing arrangements will depend on exploration success, metallurgical testwork, and the execution of definitive agreements.