NSM’s $3.6M Equity Raise Sees Placement Settlement Pushed to June 20

Equity Raising Update

North Stawell Minerals Ltd (ASX – NSM), an Australian gold exploration company focused on the Stawell Mineralised Corridor in Victoria, has announced a revision to the timetable for its ongoing equity raising. The company is pursuing a two-part capital raise comprising a placement to raise approximately $1.5 million followed by a pro rata entitlement offer targeting up to $2.1 million, collectively amounting to about $3.6 million before costs.

The key update is a delay in the settlement date for the placement portion of the raise, now scheduled for 20 June 2025, with the subsequent issue of shares expected on 23 June 2025. This represents a slight pushback from the original timetable but does not affect the entitlement offer, which remains on track to open on 20 June and close on 11 July 2025.

Strategic Implications

This capital raising is critical for North Stawell Minerals as it seeks to fund exploration activities along the highly prospective Stawell Mineralised Corridor, a region with a rich history of gold production exceeding five million ounces. The company’s granted tenure covers 504 square kilometers, with exploration efforts focused on uncovering large-scale gold deposits beneath cover, using the nearby Magdala orebody as a geological model.

While the delay in placement settlement introduces a minor timing risk, the maintenance of the entitlement offer schedule signals management’s commitment to securing the necessary funds without disrupting shareholder participation opportunities. The successful completion of this equity raising will provide the financial runway to advance exploration programs and potentially unlock significant value in this underexplored corridor.

Market and Regulatory Context

The equity raising timetable remains subject to ASX approval and regulatory compliance, with the company reserving the right to adjust dates as needed. Investors should note that the new shares issued under both the placement and entitlement offer will be quoted on the ASX following standard settlement procedures, with entitlement offer shares expected to commence trading on 21 July 2025.

North Stawell Minerals has also reiterated that this announcement does not constitute an offer in the United States, reflecting standard regulatory caution. The company encourages shareholders and potential investors to seek independent advice before participating.