Native Mineral Resources Holdings Limited (ASX: NMR), a company focused on gold exploration and development, is pleased to announce it has secured firm commitments for a A$10 million placement to accelerate its gold production plans at Charters Towers, Queensland. Native Mineral Resources poured its first gold at the Blackjack processing plant this week using remnant material from previous mining operations, becoming the ASX’s newest gold producer. The company will continue the ramp-up of production over the coming months.
The funds raised through the Placement will be used to finance the remaining capital works and associated working capital required as the Blackjack Mill increases gold production in Q3 CY25. These activities include plant commissioning and refurbishment, expansion studies and consultant costs, infill and resource drilling (targeting 1,000m – 1,250m per week), and ongoing working capital.
The placement will involve the issue of 62,500,000 fully paid ordinary shares at A$0.16 per share, representing a 12.3% discount to the last close of A$0.1825 on 4 July 2025. Blue Ocean Equities Pty Ltd acted as Lead Manager to the Placement and will receive a 6% management and capital raising fee, excluding proceeds from parties introduced by NMR Directors. The Placement will be conducted within the Company’s available placement capacity, with an Extraordinary General Meeting to be held to approve participation from related party investors.
NMR Managing Director & CEO Blake Cannavo commented that the support from new and existing shareholders is gratifying and allows the company to be funded as they ramp up production, complete drilling, and conduct expansion studies to deliver on the full potential of their Charters Towers assets. Settlement of the new shares is expected on Tuesday, 15 July 2025, with allotment and normal trading to commence the following day.
