Strong Institutional Support for AU$16.5 million Placement to Advance Crown Prince Gold Project.

New Murchison Gold Limited (ASX: NMG) has secured firm commitments for an AU$16.5 million placement at AU 0.013 per share, backed by institutional and sophisticated investors. The placement, which saw strong demand, includes an AU$2.8 million investment from major shareholder Westgold Resources Ltd, increasing its stake to 16.22 percent post-placement. 

The funds will accelerate exploration and project development at the Crown Prince Gold Project, supporting near-mine resource expansion and planned production in the second half of 2025 under an existing ore purchase agreement. The placement price represents a 12.5 percent discount to the five-day VWAP and a 0.2 percent premium to the 15-day VWAP. The company expects the new shares to be issued by 27 March 2025, strengthening its financial position with a cash balance of approximately AU$22.1 million post-placement. 

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