Nexus Minerals Announces $3.25M Entitlement Issue

Nexus Minerals Limited (ASX: NXM) has announced a 1 for 5 renounceable entitlement issue at 5 cents per share, aiming to raise approximately AU$3.25 million. Eligible shareholders will receive 1 free attaching new option for every 2 new shares subscribed, with an exercise price of 13 cents, expiring on March 26, 2025. This offering is attractively priced, with a 25.37% discount to the last ASX closing price and a 24.58% discount to the 10-day VWAP. The entitlement issue is open to eligible shareholders in Australia, New Zealand, Hong Kong, and Singapore, closing on September 26, 2023, unless extended.

The funds raised will support exploration activities at various projects, including the Wallbrook Gold Project, the Bethanga Porphyry Cu-Au Project, and the NSW LCT Pegmatite Project, along with covering issue costs and working capital. The offering is partially underwritten to AU$2 million by Mahe Capital Pty Ltd, and directors of the company plan to participate. The new shares issued will have equal ranking with existing shares. Shareholders can trade their rights from September 6, 2023. Nexus Minerals is actively exploring for gold deposits in Western Australia and expanding its project portfolio, including ventures in Victoria and New South Wales. They are focused on refining exploration techniques for their tenements, particularly at the Wallbrook Gold Project, located near major mining operations.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com