Hole in one, Newton Golf acquires option on Nevada beryllium-tungsten mine

Newton Golf Company, Inc. (NWTG), a golf equipment maker, has acquired an option to purchase the Pole Canyon beryllium-tungsten project in White Pine County, Nevada, marking the company’s entry into the U.S. critical minerals sector, according to a press release.

As consideration for the option, Newton Golf issued shares representing 19.9% of its issued and outstanding common stock. The company currently has approximately 6.4 million shares outstanding.

The Pole Canyon project is a past-producing property consisting of 16 unpatented lode claims covering approximately 330 acres, located about 50 miles southeast of Ely, Nevada. Historical materials reference estimates of approximately 281,725 tons grading 0.75% beryllium oxide and 0.30% tungsten trioxide. Newton Golf stated it has not independently verified these estimates.

Newton Golf said it does not intend to conduct mining operations directly. Instead, the company plans to evaluate strategic agreements, joint ventures, a sale, or other structures related to the option. The company said it will continue operating its golf equipment business.

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