NMR raises A$10m for Blackjack gold mine
ASX-listed Native Mineral Resources (NMR) has locked in firm commitments for a A$10-million capital raise to accelerate gold production at its recently commissioned Blackjack processing plant in Charters Towers, Queensland.
The placement, led by Blue Ocean Equities, will fund the final stages of plant commissioning, balance-of-plant refurbishment, and ongoing working capital requirements as NMR moves to ramp up operations in the third quarter.
“On the back of our first gold pour at Blackjack, this support from new and existing shareholders is gratifying and allows us to be funded as we ramp up production as well as complete drilling and expansion studies to ensure we can deliver on the full potential of our Charters Towers assets,” said NMR MD and CEO Blake Cannavo.
NMR became the ASX’s newest gold producer this week after achieving first gold production ahead of schedule from remnant material at the Blackjack site. The company said commissioning was nearing completion, with gold output expected to scale up over the coming months.
“Achievement of first gold at Blackjack ahead of schedule demonstrates that NMR is a company that delivers on or exceeds expectations and we look forward to continuing to do this once we are in full production at Blackjack,” Cannavo said.
The placement will see 62.5-million new shares issued at A$0.16 a share – a 12.3% discount to the last closing price of A$0.1825 on July 4.
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