Native Mineral Resources Secures AU$10 million to Advance Gold Production at Blackjack

Native Mineral Resources Holdings Limited (ASX: NMR) has successfully raised AU$10 million through a placement of 62.5 million shares at AU$0.16 per share, marking a 12.3% discount to the last closing price. The funding will support the ramp-up of gold production at its recently commissioned Blackjack processing plant in Charters Towers, Queensland, where the company poured its first gold ahead of schedule using remnant ore.

Proceeds from the placement will be used to complete plant commissioning, cover remaining refurbishment and capital costs, and fund expansion studies, as well as aggressive infill and resource drilling, targeting 1,000m–1,250m per week. Additionally, funds will bolster working capital as operations scale through Q3 CY25. Blue Ocean Equities acted as Lead Manager, with a 6% fee applying to non-director sourced contributions. Importantly, NMR’s production remains unhedged and is backed by a Refining and Offtake Agreement with ABC Refinery. The company sees this milestone as a validation of its project delivery capabilities and future potential at Charters Towers.

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