Native Mineral Resources: Set to raise $404,000 via placement

January 28, 2023

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Native Mineral Resources: Set to raise $404,000 via placement

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Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

Native Mineral Resources Set to raise $404,000 via placement

Native Mineral Resources (NMR) is set to raise nearly $404,000 via a share placement
The company will issue just under 4.5 million new shares at nine cents per share to raise the funds
For every two new shares issued under the placement, investors will be offered one free attaching option exercisable at 20 cents by June 30, 2024
NMR plans to put the funds towards the progression of its exploration program at the Maneater and Palmerville tenements in Queensland, along with additional working capital
Native MineralResources shares are down 14.43 per cent and trading at 8.3 cents at 2:22 pm AEDT