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The latest update is out from Nagambie Resources Limited ( (AU:NAG) ).
Nagambie Resources Limited has secured firm commitments to raise $1.2 million for continued diamond drilling and updating the JORC Mineral Resource Estimate at its Nagambie Mine. The funds will be used to target antimony and gold veins, follow up on recent discoveries, update resource estimates, and cover working capital. The placement involves issuing approximately 92.3 million shares at a discounted price, with additional options potentially raising further funds. JP Equity Partners acted as the lead manager for the placement and will provide future corporate advisory services.
More about Nagambie Resources Limited
Nagambie Resources Limited is a mining company focused on the exploration and development of antimony and gold deposits. Its flagship project is the 100%-owned Nagambie antimony-gold project, which includes the historic Nagambie mine. The company holds a mining license over this discovery, which is significant due to the strategic importance of antimony for various national economies and defense capabilities.
YTD Price Performance: -5.56%
Average Trading Volume: 507,378
Technical Sentiment Signal: Sell
Current Market Cap: A$13.66M
Learn more about NAG stock on TipRanks’ Stock Analysis page.