Uvre’s Bold NZ Gold Move: $4M Raise Fuels Waitekauri Drilling Launch
Uvre Limited has secured a transformative portfolio of New Zealand gold projects, including the high-grade Waitekauri asset, backed by a $4 million capital raise and new board appointments. The company is gearing up for its maiden drilling campaign this September.
- Acquisition of Otagold’s NZ gold projects including Waitekauri
- Waitekauri located near OceanaGold’s prolific Waihi mine
- $4 million raised at 8c per share, $6 million cash post-transaction
- Experienced mining executives Norman Seckold and Peter Nightingale join board
- Maiden drilling program at Waitekauri planned for September 2025
Transformational Acquisition in New Zealand
Uvre Limited (ASX, UVA) has marked a pivotal moment with its recent acquisition of Otagold’s portfolio of gold exploration projects in New Zealand. Central to this portfolio is the Waitekauri Gold Project, a brownfields asset boasting historical production grades of 48 grams per tonne of combined gold and silver. Situated just 8 kilometres west of OceanaGold’s Waihi mine; a 10 million ounce gold producer; Waitekauri offers a compelling geological setting that aligns with some of the region’s most prolific deposits.
This acquisition not only expands Uvre’s footprint in a highly prospective gold region but also positions the company to leverage existing mineralisation and historical workings that have yet to be fully explored with modern techniques.
Strong Financial Backing and Board Expertise
Backing this strategic move, Uvre successfully raised $4 million at 8 cents per share, bringing its cash reserves to approximately $6 million. This funding is earmarked to support an aggressive exploration campaign, including a maiden drilling program at Waitekauri set to commence in September 2025.
Adding further strength, the company welcomed mining veterans Norman Seckold and Peter Nightingale to its board as Non-executive Directors. Seckold, now Uvre’s largest shareholder with a 16.27% stake, brings a wealth of experience from leadership roles at Santana Minerals and other ASX-listed mining companies. Their involvement signals a robust governance framework and strategic oversight as Uvre embarks on this next phase.
Exploration Potential and Upcoming Drilling
The Waitekauri project covers a substantial 58-kilometre corridor within the Hauraki goldfield, a region known for its rich mineral endowment. The project hosts multiple prospects, including Scotia, Sovereign, and Jubilee, with historical mining limited to shallow depths and only sporadic modern drilling. Uvre’s planned eight-hole drill program at Jubilee aims to test deeper extensions and strike continuity, potentially unlocking a multi-million-ounce resource.
Complementing Waitekauri, Uvre’s portfolio includes other promising New Zealand projects on the South Island; Roaring Meg, Oturehua, and Invincible; where recent rock chip assays have returned encouraging gold grades up to 18.4 g/t. While exploration activities in Uvre’s uranium projects in South Australia and mineral claims in the USA remained dormant this quarter, the company’s focus clearly centers on advancing its New Zealand gold assets.
Outlook and Market Positioning
Uvre’s strategic acquisition and capital raise have set the stage for a potentially transformative year. With a well-funded treasury and a strengthened board, the company is poised to unlock value through systematic exploration in a region with proven high-grade gold endowment. The proximity to OceanaGold’s operations adds a layer of validation to the geological potential, while the upcoming drilling results will be critical in shaping market expectations and investor confidence.
Bottom Line?
As Uvre prepares to drill at Waitekauri, the market will watch closely for signs that this bold acquisition can translate into tangible resource growth.
Questions in the middle?
- What initial results will the maiden drilling program at Waitekauri reveal about the project's scale and grade?
- How will Norman Seckold’s involvement influence Uvre’s strategic direction and exploration priorities?
- What are the company’s plans for advancing its South Island gold projects and uranium assets beyond New Zealand?
