Nexus Minerals raising up to $3.25 million to advance exploration activities
September 06, 2023 at 01:01 am IST
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Nexus Minerals Ltd (ASX:NXM) MD Andy Tudor tells Proactive the company is raising around $3.25 million before costs through a 1 for 5 renounceable entitlement issue partially underwritten to $2 million at a price of five cents per share. Nexus will use the money to progress exploration activities at the Wallbrook Gold Project, the Bethanga Porphyry Copper-Gold Project and the NSW LCT Pegmatite Project. The company is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia and has expanded its existing project portfolio with the addition of the Bethanga Project in Victoria. It has also recently been granted more than 15,000 square kilometres of LCT (lithium-caesium-tantalum) pegmatite prospective tenure in NSW and Victoria.
The company is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia and has expanded its existing project portfolio with the addition of the Bethanga Project in Victoria. It has also recently been granted more than 15,000 square kilometres of LCT (lithium-caesium-tantalum) pegmatite prospective tenure in NSW and Victoria.
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Nexus Minerals Limited is an Australia-based resource company. The Companyâs principal activity is engaged in mineral exploration in Australia. The Company has a portfolio of gold projects in Western Australia. Its projects include Wallbrook Gold, Bethanga Porphyry Copper-Gold, Pinnacles Joint Venture Gold, Pinnacles Regional Gold, and Mount Celia Gold. The Wallbrook Gold Project is located over 130 kilometers (km) northeast of Kalgoorlie in the Eastern Goldfields and has a tenement package covering approximately 250 square km. The Bethanga Porphyry Copper-Gold Project site is located 300 km northeast of Melbourne and 30 km east of the major regional center of Albury Wodonga. The Pinnacles Joint Venture Gold Project is located in the Eastern Goldfields of Western Australia, some 100 km northeast of Kalgoorlie-Boulder. The Pinnacles Regional Gold tenements cover approximately 125 square km. The Mount Celia Project is located 180km Northeast of Kalgoorlie.