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Native Mineral Resources Holdings Ltd. ( (AU:NMR) ) has provided an announcement.
Native Mineral Resources Holdings Ltd. announced that Australian entrepreneur Wes Maas has conditionally agreed to invest in the company’s shortfall from its Entitlement Offer, potentially acquiring up to 19.9% of NMR’s shares. This investment, alongside the commitment from CEO Blake Cannavo, is aimed at raising funds to advance the development of gold projects in Queensland, positioning NMR as a potential gold producer by later this year. The Entitlement Offer, which closes today, seeks to raise up to $15.9 million to fund these initiatives, underscoring NMR’s strategic move towards rapid growth and production in the near future.
More about Native Mineral Resources Holdings Ltd.
Native Mineral Resources Holdings Ltd. is engaged in the mining industry, focusing on gold production. The company is working on developing its gold projects in the Charters Towers region, including the Far Fanning and Blackjack deposits, with an aim to commence production in Q3 2025.
YTD Price Performance: 5.00%
Average Trading Volume: 1,044,956
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$20.37M
For an in-depth examination of NMR stock, go to TipRanks’ Stock Analysis page.
