NMR’s OPPORTUNITY

When seasoned mining executive Blake Cannavo first stumbled upon what was a dilapidated gold mine in far North Queensland called Blackjack, he saw what others had missed: a golden opportunity.

That was in early 2024. The place was “overgrown and rundown” after its previous owners were placed into administration. But Cannavo – whose stellar career includes leadership roles in iron ore development and operations with some of Australia’s most successful exploration companies – could only see potential.

It took six months to complete due diligence. The existing infrastructure was workable and the mine’s proximity to a nearby town centre, as well as mains power supply and water were a huge advantage.

Cannavo, whose extensive track record includes delivering multi-billion dollar mining projects ahead of schedule and under budget – both reinvented and reinvigorated the site, as well as the company.

NMR listed on the ASX in 2020. Today, the junior explorer is in full production – producing its first 15-kilogram bar valued at around $2 million in July 2025 – less than a year after debuting on the Australian Stock Exchange and six months earlier than expected.

For NMR the future is bright, with a stellar management team ushering in what is expected to be a new ‘golden era’ for North Queensland and Australian mining.