Nexus raises cash for Wallbrook project
ASX-listed Nexus Minerals on Friday announced a A$4.1-million capital raise to support its Wallbrook project in the Eastern Goldfields of Western Australia.
The company received firm commitments for a placement of 97.3-million new shares at A$0.042 a share.
“It is a great result to have received such a positive outcome and strong support from existing and new shareholders, also a strong endorsement of the company’s Wallbrook gold project endeavours,” said MD Andy Tudor.
“The proceeds from the placement will allow Nexus to continue with its regional exploration programmes at the Wallbrook gold project, where the company has been having continued exploration success. The exploration efforts will complement the current Crusader-Templar resource base, with the exploration strategy seeing aircore drilling of new target areas commencing in the coming weeks.”
Nexus’ tenement package at the Wallbrook project starts immediately to the north of Northern Star’s multi-million ounce Carosue Dam mining operations, and current operating Karari and Whirling Dervish underground gold mines.
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