North Stawell Minerals (ASX:NSM) is raising $400,000 through a shortfall facility associated with a greater entitlement offer.
The company will issue 13.33 million shares to investors at $0.03 per share, following the same offer price as a $518,123 entitlement offer conducted in July this year, as reported by Mining.com.au.
Along with an earlier placement, the equity raising has brought North Stawell’s total gross proceeds to $2.42 million.
CEO Campbell Olsen says shareholder engagement reflects “strong confidence” in both the company’s exploration potential and strategic direction.
“The funds raised will support ongoing exploration programs at Darlington, advance secondary projects and continue the evaluation and progression of Wildwood and other key projects,” Olsen says.
“This capital injection comes at a pivotal time of growth and exploration activity for North Stawell Minerals.”
North Stawell Minerals is a gold explorer focused on discovering large-scale deposits in the Stawell Mineralised Corridor in Victoria.
Write to Maddison Elliott at Mining.com.au
Images: North Stawell Minerals
