Polarx Ltd: Trading Halt and Strategic Joint Venture Announcement
Polarx Limited, a mineral exploration and development company based in Subiaco, Australia, has recently experienced significant developments impacting its operations and strategic direction. The company, which specializes in gold, silver, and copper mining projects, is listed on the ASX All Markets stock exchange.
Trading Halt
On August 25, 2025, Polarx Limited announced a trading halt for its securities, effective from August 26, 2025. The halt was requested by the company pending the release of an important announcement. According to ASX Compliance, the trading halt would remain in effect until the earlier of the commencement of normal trading on August 28, 2025, or the release of the announcement to the market. This move was communicated to the market by Mr. Sam Dorland of ASX Compliance, following a request from Polarx Limited.
Strategic Joint Venture with Northern Star Resources
In a significant development, Polarx Limited announced on August 27, 2025, a strategic joint venture with Northern Star Resources Ltd. Under this agreement, Northern Star may earn up to a 70% interest in an incorporated joint venture concerning Polarx’s Alaska Range Project. This is contingent upon shareholder approval and involves a series of staged cash contributions totaling up to US$39 million (~A$60 million).
The joint venture aims to accelerate exploration and resource expansion programs at the Alaska Range Project. It leverages Northern Star’s corporate strength as a major gold producer and successful Alaskan mine operator. The collaboration is expected to facilitate up to five years of exploration and pre-feasibility activities, targeting the expansion of the existing high-grade resource base and assessing the vast regional potential of the Alaska Range Project.
Company Overview
Polarx Limited, with a market capitalization of approximately 42.8 million AUD, operates primarily in the metals and mining sector. The company’s close price as of August 24, 2025, was 0.018 AUD, with a 52-week high of 0.02 AUD and a low of 0.005 AUD. Polarx offers its services in Australia and can be accessed through its website at www.polarx.com.au .
These developments mark a pivotal moment for Polarx Limited as it seeks to enhance its exploration capabilities and expand its resource base through strategic partnerships.