M2i Global has entered into an exclusive offtake agreement with NT Minerals Limited (NTM) for 88,000 tonnes of copper, currently valued at $850 million based on the current price of $9,653 per ton. The agreement grants M2i the rights to source copper from the Redbank tenements in exchange for 12 million shares of M2i Global Inc. Additionally, NTM will receive further payments for any resource increases or upgrades from the Redbank tenements, and M2i retains the option to participate in production pre-funding opportunities.
Doug Cole, Executive Chairman of M2i, expressed enthusiasm about the collaboration, emphasizing the importance of securing a substantial tonnage of future copper production for the U.S. economy and defense industry.
NTM’s Managing Director Rodney Illingworth highlighted that the agreement provides necessary liquidity to expand their resources without dilution, demonstrating confidence in NTM’s ability to develop copper and critical mineral projects.
NTM’s focus is on the Bluff Resource and several nearby targets, including Double Bluff and various gravity and geochemical targets. The company plans to conduct a drill program to explore these targets, potentially accessing them from the same infrastructure.
Additionally, a 1,700-meter copper geochemical trend has been identified northeast of Bluff, including the Quartzite Prospect. This area has shown promising historical drill results, and NTM intends to conduct reconnaissance drill programs targeting these anomalies.
NTM also plans regional reconnaissance work in 2024 across various areas identified by previous explorers, including the Mountain Home Prospect and other highly mineralized trends warranting further investigation.
NTM is progressing with the necessary approvals and has received expressions of interest from drilling contractors for the planned programs, set to commence in early July, pending access after a significant wet season. 
