NMR - Native Mineral Resources Holdings

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Native Mineral Resources Holdings is an Australian based minerals exploration company established to explore for copper and gold deposits in the Palmerville Fault and Mount Morgan regions in North Queensland and for gold deposits in the Eastern Goldfields region in Western Australia.

NMR’s greenfield stage projects include the Leane's prospect where copper and gold mineralisation has been intersected, but further exploration is required to prove continuity.

It is anticipated that NMR will list on the ASX during November 2020.

Native Mineral Resources – Native Mineral Resources, Mining Australia, Goldmine, Copper, NMR

nmresources.com.au

 

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No posts since 21/08/23
Announcement today (12/11/24):

• NMR has received commitments under a private placement to sophisticated and institutional investors to raise $3,463,731.24 (before costs) by the issue of 86,593,281 fully paid ordinary shares (Placement Shares) at $0.04 (4 cents) per Placement Share (Placement);
• Amount raised under the Placement was completed at a 14.3% premium to the last closing price and is the maximum that can be raised under existing placement capacity pursuant to the ASX Listing Rules;
• NMR to undertake a 1:1 non-renounceable Entitlement Offer at $0.04 (4 cents) to raise up to$15.9 million (before costs) which will enable existing shareholders to participate on the sameterms (Entitlement Offer) as the Placement. Managing Director and CEO, Blake Cannavo to takeup his full entitlement of over $3 million. The Entitlement Offer is not underwritten;
• In the event that the Entitlement Offer is not fully subscribed Blake Cannavo has agreed toprovide additional funding of up to $1.2 million via convertible notes (Notes). This facility will besubject to shareholder approval pursuant to ASX Listing Rule 10.11; and
• Funds will be used to develop NMR’s Far Fanning and Black Jack deposits in Northern Queensland and its working capital requirements as well as ongoing exploration across NMR’s existingtenements

News Corp media article published by Cameron Bates on 10 November 2024 has revealed the following information:

Native Mineral Resources buys Far Fanning and Black Jack deposits near Charters Towers​

A businessman behind the new acquisition of $20 million of gold fields and processing plant in the mineral-rich Ravenswood-Charters Towers region is promising up to 90 jobs.

A businessman behind the new acquisition of $20 million of gold fields and processing plant in the mineral-rich Ravenswood-Charters Towers region is promising up to 90 jobs. Native Mineral Resources confirmed on Friday the “transformative” $18.9 million purchase of to acquire strategic assets, including the Far Fanning and Black Jack deposits. “By securing two near-mine, advanced gold projects with robust resource potential, we are positioning ourselves to move rapidly towards production,” NMR managing director and CEO Blake Cannavo said. “This deal propels us from a junior explorer to a potential gold producer in under two years, significantly enhancing value for our shareholders.”

The gold and copper focused company said the acquisition included a total of 17 granted mining leases, one mineral development license, six exploration permits and the currently disused Black Jack Processing Plant.

Mr Cannavo, the major shareholder in the Port Macquarie-based company, said the acquisition was “substantial”. “The biggest part of it is the processing plant just outside of town in Charters Towers because that is the key to everything … there is no point having a very good resource if you don’t have the process plant,” he said. “Without a process plant, you are just stranded so I am extremely thrilled to be the new owner.”

Mr Cannavo said drilling was starting at Far Fanning on the 18th of this month, with an aim of extending its about 4.5 year lifespan to “eight plus years”. “We want to get stuck back into mining Far Fanning and bring the plant back to life and producing gold very quickly.”

He estimated that once everything was up and running, including a new fit out of the plant, the company would be employing as many as 90 people, hopefully from Charters Towers. “We want to give people an opportunity, I want to be an employer of choice, I want people who want to come and work for us because we are really going to look after our staff,” he said. “We want to do the right thing and support this town.” Mr Cannavo said he wanted to support Charters Towers and North Queensland.

“We want to be mining in this particular area for 10 and 20 years so we are looking long-term, this is not a short-term venture.”

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