Nagambie Resources Limited (ASX: NAG), a company focused on discovering and developing shallow, open pit gold and antimony deposits, has announced a Share Purchase Plan (SPP) for eligible shareholders. Registered shareholders as of 7:00 PM (AEDT) on Friday, February 27, 2026, are invited to participate. The SPP allows eligible shareholders to purchase between $1,000 and $30,000 worth of shares at a price of 1.3 cents per share, without incurring brokerage fees or additional transaction costs. This price represents a 17.7% discount to the volume weighted average price of 1.58 cents over the previous five trading days.
The company aims to raise up to $3.7 million through the SPP, and the offer is not underwritten. The funds raised will be used to carry out an initial diamond drilling program at the company’s 100%-owned Whroo Mines Gold-Antimony Project and to add to general working capital.
According to the announcement, on January 30, 2026, Nagambie made an ASX announcement regarding a proposed joint venture with Alkane Resources Limited. The proposal includes Alkane subscribing for $2.5 million of NAG shares at 1.5 cents per share. It also allows for Alkane expenditure of $12.5 million or $27.5 million to move to 60% or 80% respectively of the proposed ANJV.
Kevin Perrin, Non-Executive Chair of Nagambie Resources, stated that the proposed Alkane and Nagambie Joint Venture could provide Nagambie with access to capital cost savings via the existing Costerfield Mine. He also noted that the company retains 100% ownership of the Whroo Mines and Wandean Gold-Antimony Projects and that Whroo will become Nagambie’s primary exploration project. The SPP is recommended to all eligible shareholders.
