Nelson Raises $2.3M via 1.53B Shares, Plans Q1 Drilling at Fortnum and Yarri

Capital Strengthening and Leadership Boost

Nelson Resources Limited has fortified its financial position with a successful placement raising $2.3 million before costs, issuing 1.53 billion new shares at a modest $0.0015 each. This capital injection, accompanied by free attaching options, provides the company with a solid runway to advance its exploration ambitions. The appointment of Dr Louis Bucci, an economic geologist with over two decades of experience, as Executive Director signals a strategic emphasis on technical expertise to guide the company’s next phase of growth.

Focused Exploration Plans for 2025

While no on-ground exploration activities took place during the December quarter, Nelson Resources has been busy with desktop reviews of its key gold projects at Fortnum and Yarri. These studies have uncovered additional target areas, particularly the southern extension of the contact zone between the Labourchere Formation and Despair Granite at Fortnum, and structural controls at Yarri that could host vein-style mineralisation. The company plans to initiate fieldwork and drilling in the first quarter of 2025 to test these promising zones, aiming to better define mineralisation and expand resource potential.

Project Portfolio and Operational Status

Nelson’s project portfolio remains anchored by Fortnum, Yarri, and Woodline, with ongoing evaluations at each site. The Woodline project continues to undergo data compilation and aeromagnetic reprocessing, while the recently granted Tempest tenement adds to the company’s exploration footprint. Despite the lack of field activity in the quarter, these preparatory efforts lay the groundwork for more targeted and efficient exploration campaigns ahead.

Financial Discipline and Corporate Developments

The company reported exploration and evaluation expenditure of $84,000 and administration costs of $222,000 for the quarter, maintaining a disciplined approach to cash management. Nelson ended the period with approximately $2.035 million in cash, underpinning its capacity to fund upcoming exploration initiatives. Board changes included the appointment of Gernot Abl as Non-executive Chairman and the resignation of Peter Bird and Nicholas Ong, reflecting a refreshed governance structure aligned with the company’s strategic direction.

Looking Ahead

Nelson Resources is actively reviewing new project opportunities both domestically and internationally, allocating working capital to due diligence and evaluation. While no commitments have been made yet, this openness to expansion could diversify the company’s asset base and enhance shareholder value over time. The market will be watching closely as Nelson transitions from planning to execution in its exploration programs, with the potential for meaningful news flow in the coming quarters.