Nagambie Resources to raise AU$1.4 million to accelerate its ongoing diamond drilling program

Nagambie Resources Limited (ASX: NAG) announced that Far East Capital Limited has received commitments from sophisticated and professional investors for the placement of ~14.8 million fully paid ordinary Nagambie Resources shares at 7.0 cents per share, totalling ~AU$1.04 million. Far East Capital Limited is the Lead Manager in this process.

The placement shares will be issued on 17 October 2022 as per Company’s existing Listing Rule 7.1A placement capacity.

The funds are to be used by Nagambie to:

• Accelerate the ongoing diamond drilling of high-grade, antimony-gold, Costerfield-Minestyle veins at the 100%-owned Nagambie Mine.
• Add to general working capital

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