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The latest announcement is out from Nagambie Resources Limited ( (AU:NAG) ).
Nagambie Resources has launched a 2026 Share Purchase Plan offering eligible Australian and New Zealand shareholders up to $30,000 of new shares at 1.3 cents, a discount of about 18% to recent trading prices, to raise up to $3.7 million for diamond drilling at its Whroo Mines Gold-Antimony Project and for working capital. The initiative follows a proposed joint venture with Alkane Resources that could leverage Alkane’s nearby Costerfield Mine infrastructure to develop Nagambie’s high-grade antimony-gold discovery, while Nagambie retains full ownership of Whroo and Wandean, reinforcing its strategic shift toward advancing these Victorian gold-antimony assets and broadening retail investor participation.
The board is targeting a more inclusive capital raising by extending discounted participation to all eligible shareholders, rather than only sophisticated and professional investors, via a non-underwritten, non-renounceable offer that may be scaled back if demand is high. If the Alkane joint venture progresses alongside the SPP funding, Nagambie stands to benefit from reduced development capital needs and accelerated exploration and mine development activity, which could materially influence its future production profile and position in the gold-antimony sector.
The most recent analyst rating on (AU:NAG) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Nagambie Resources Limited stock, see the AU:NAG Stock Forecast page.
More about Nagambie Resources Limited
Nagambie Resources Limited is an Australian exploration and mining company focused on gold and antimony projects in Victoria. Its key assets include the 100%-owned Whroo Mines and Wandean Gold-Antimony Projects, along with the Nagambie Mine antimony-gold discovery that is being positioned within a proposed joint venture framework.
YTD Price Performance: 27.27%
Average Trading Volume: 4,021,673
Technical Sentiment Signal: Sell
Current Market Cap: A$13.42M
Learn more about NAG stock on TipRanks’ Stock Analysis page.