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Highlights
North Stawell Minerals launches equity raise to support work at Darlington and Lubeck Tip
Funds directed to expand exploration across tenements in the Stawell Corridor
Shareholders granted access to additional shares via top-up provision
North Stawell Minerals (ASX:NSM), part of the All Ordinaries index, is enhancing its presence in the Australian gold sector through an equity raise focused on supporting exploration initiatives. The company has announced a structured capital raise, anchored by a non-renounceable entitlement offer aimed at accelerating activities across its Victorian gold projects.
The offer includes provisions for existing shareholders to acquire additional shares, with a shortfall mechanism in place to allow further participation through a top-up facility.
Capital Injection to Accelerate Work at Key Tenements
Proceeds from the entitlement offer will prioritise exploration and drilling efforts at the Darlington and Lubeck Tip tenements. These assets are situated within the Stawell Corridor, a region known for its complex geology and historical gold production. A notable portion of the tenement geology is obscured by Murray Basin sediments, which presents technical challenges but also untapped mineral exploration potential.
In parallel with the entitlement structure, North Stawell Minerals is executing an additional placement to supplement total raised capital. Settlement for that tranche is scheduled to conclude within July.
Top-Up Facility Opens Door to Further Shareholder Participation
Eligible shareholders will be provided the opportunity to subscribe for two new shares for every nine currently held. In addition, a top-up feature has been included, giving shareholders the chance to apply for additional shares not taken up during the offer period.
The offer is managed by GBA Capital and is scheduled to close in early July, with new shares to be issued mid-month. This timeframe is expected to align with ongoing drilling timelines and allow capital deployment toward immediate exploration objectives.
Tenement Targets Mirror Proven Regional Models
North Stawell Minerals views the Darlington and Lubeck Tip projects as having strong geological similarities to the historically productive Stawell Mine. The exploration team believes that the tenements may host shallow gold mineralisation, with the new funding enabling a more intensive approach to testing and validating these targets.
In addition to the immediate drilling focus, the company will continue to assess further prospects across its Wildwood asset and other areas under review.
North Stawell Minerals remains committed to the strategic development of its gold assets throughout western Victoria, positioning itself as an active explorer within one of Australia's notable gold corridors.
