Nexus Minerals raises $5.4M for gold project
- Nexus Minerals secures $5.4 million through an institutional share placement to advance its core exploration activities.
- The placement was priced at $0.053 per share, representing an 8.6% discount to its last closing price on Sept. 16.
- Proceeds will fund extensive drilling campaigns at the Wallbrook Gold Project in Western Australia and support general working capital.
Nexus Minerals (ASX:NXM) has received firm commitments for a capital placement to raise approximately $5.4 million before costs.
The offer price of $0.053 per share represents an 8.6% discount to the last closing price on Sept. 16 of $0.058.
The company stated that the fresh capital brings its post-settlement cash reserve to more than $8.7 million before costs.
The raised funds are designated for aircore, reverse circulation, and diamond drilling at the Wallbrook Gold Project, as well as general working capital.
Settlement of the new shares is scheduled for late September 2026 as the explorer advances its key Australian asset base.
Following the announcement the Nexus share price was unchanged at $0.054.
The West Perth-based explorer focuses on identifying and developing gold and copper deposits across Western Australia and Victoria.
Its core portfolio includes the flagship Wallbrook, Pinnacles, and Mt Celia gold projects located east of Kalgoorlie.
