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Nexus Minerals secures $1.25 million; share purchase plan opens

Opportunity for eligible shareholders to purchase up to $15,000 of Nexus shares without incurring brokerage or transaction costs.
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Nexus has started a drilling program at the Wallbrook Gold Project

Nexus Minerals Ltd (ASX:NXM) has raised $1,254,000 through the placement of 22 million shares at 5.7 cents each.

The funds will be used for exploration including a reverse circulation (RC) drilling program at the Wallbrook Gold Project about 140 kilometres northeast of Kalgoorlie-Boulder in Western Australia.

READ: Nexus Minerals starts Wallbrook drill program at Paint and Crusader prospects

Nexus has started a RC drilling program at the Paint and Crusader prospects at its Wallbrook Gold Project.

The 250 square kilometre project is 35 kilometres north of Nexus’ significant investor Saracen Mineral Holdings’ (ASX:SAR) 4 million ounce Carosue Dam Operations.

Nexus has a package of tenements in the Eastern Goldfields, holding land picked up from both Saracen and Newmont Mining Corp’s (NYSE:NEM) Newmont Exploration.

Share purchase plan

The company intends to raise up to a further $750,000 through a share purchase plan (SPP) which is now open.

The plan offers eligible shareholders the opportunity to purchase up to $15,000 of Nexus shares at 5.7 cents each without incurring brokerage or transaction costs.

Indicative timetable

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

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