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Nagambie Resources Limited ( (AU:NAG) ) just unveiled an update.
Nagambie Resources has issued 266,666,667 new fully paid ordinary shares as part of its Alkane-Nagambie Joint Venture arrangements, allocating 166,666,667 shares to Alkane Resources Limited and 100,000,000 shares to PPT Nominees Pty Ltd. The company has confirmed that these shares were issued without a prospectus under the Corporations Act disclosure exemptions and that it remains compliant with its continuous disclosure and reporting obligations, a step that formalises equity components of the joint venture and may reshape its capital structure and strategic alignment with Alkane.
The cleansing notice indicates that there is no excluded information requiring disclosure at this time, suggesting that Nagambie considers the market fully informed regarding the joint venture and related share issues. This move underpins the progression of the Alkane-Nagambie collaboration, potentially strengthening Nagambie’s financial and operational capacity in its resource projects while signalling regulatory compliance to existing and prospective investors.
More about Nagambie Resources Limited
Nagambie Resources Limited is an Australia-based resources company listed on the ASX that is focused on mineral exploration and development activities. The company operates in Victoria and is engaged in advancing projects and partnerships within the mining and resources sector to expand its asset base and strategic positioning.
YTD Price Performance: 9.09%
Average Trading Volume: 4,183,360
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$13.94M
See more insights into NAG stock on TipRanks’ Stock Analysis page.