60 Million Shares Placed at 1 Cent Each with Free Options Attached
Nagambie Resources has successfully raised $600,000 through a placement of 60 million shares, accompanied by free attaching options, to fund its strategic antimony-gold project at Nagambie Mine.
- Placement of 60 million shares at $0.01 each
- One free attaching option for every two shares subscribed
- Funds earmarked for exploration, working capital, and placement costs
- JP Equity Partners as lead manager with 6% fee plus options
- Settlement expected on 5 December 2025
Capital Raising to Fuel Exploration Ambitions
Nagambie Resources Limited (ASX, NAG) has announced a $600,000 capital raising via a placement of 60 million fully paid ordinary shares priced at one cent each. This move is designed to bolster the company’s financial position as it advances exploration activities at its flagship Nagambie Mine, a project of national significance given its antimony and gold deposits.
The placement includes an incentive for investors in the form of one free attaching unlisted option for every two shares subscribed. These options carry an exercise price of $0.018 and expire two years from the allotment date, potentially offering additional upside if the company’s exploration efforts translate into resource development.
Strategic Importance of Antimony-Gold Project
Antimony is increasingly recognised as a critical mineral for economic and defence applications across multiple countries, including the US, Canada, and Australia. Nagambie Resources’ 100%-owned Nagambie Mine holds a mining license over this strategically important discovery, positioning the company well within a sector that is drawing heightened attention globally.
Located near established gold-antimony mines such as Fosterville and Costerfield, Nagambie’s 1,000 square kilometres of tenements offer promising exploration potential. While the company has yet to define a formal mineral resource, the current capital injection is expected to support ongoing drilling and evaluation programs that could unlock further value.
Placement Details and Market Implications
The placement is being managed by JP Equity Partners, who will receive a 6% fee plus GST on the funds raised and 2.8 million options on the same terms as those issued to investors. The shares issued will rank equally with existing shares, ensuring no preferential treatment for new investors.
Settlement of the placement is anticipated on 5 December 2025, with proceeds allocated to exploration activities, working capital needs, and covering the costs associated with the placement itself. This capital raise reflects a measured approach to funding, balancing shareholder dilution with the need to maintain momentum on the Nagambie project.
Looking Ahead
While the announcement does not provide detailed timelines for exploration milestones or resource definition, it underscores Nagambie Resources’ commitment to advancing its antimony-gold project amid a favourable market backdrop for critical minerals. Investors will be watching closely for subsequent updates that demonstrate tangible progress and validate the strategic rationale behind this capital raising.
Bottom Line?
Nagambie’s latest capital raise sets the stage for critical exploration updates that could redefine its market position.
Questions in the middle?
- What specific exploration milestones will the new funds target in the coming months?
- How might the exercise of attaching options impact future share dilution and capital structure?
- What are the company’s plans to transition from exploration to resource definition and potential development?