North Stawell Minerals Ltd (ASX: NSM), an Australian-based gold exploration company focused on identifying and developing prospective gold projects, has announced it has entered into binding agreements for a placement to raise $250,000. The company’s primary focus is its extensive exploration portfolio within the highly prospective Stawell Mineralised Corridor in Victoria. These funds are earmarked to drive ongoing exploration activities at its Darlington Project, alongside supporting general working capital costs and expenses associated with the placement.
The placement involves the issue of 13,888,889 new fully paid ordinary shares at an issue price of $0.018 per share to sophisticated and professional investors. This issue price represents a 9% discount to NSM’s last closing price of $0.020 per share as of September 25, 2026, and a 9.04% discount to its 15-day volume weighted average price. The new shares will rank equally with existing NSM shares upon their date of issue, with the company applying to the ASX for their quotation.
Campbell Olsen, Chairman of North Stawell Minerals, expressed satisfaction with the outcome. “We are pleased to welcome a new investor to the North Stawell Minerals register through this $250,000 placement,” Mr Olsen stated. “The support received demonstrates continued confidence in the Company’s exploration strategy and the prospectivity of the Darlington Project.” He further noted that this funding provides the capacity to progress exploration objectives, maintain operational momentum, and pursue value creation opportunities for shareholders, with settlement and allotment of shares expected on or before October 2.
