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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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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.