Native Mineral Resources Issues New Shares as Drilling Program Continues

Native Mineral Resources Holdings Ltd. ( (AU:NMR) ) just unveiled an announcement.

Native Mineral Resources Holdings Ltd has issued 750,000 new fully paid ordinary shares following the exercise of unlisted options at an exercise price of $0.02 per share, with the securities issued under an ASX Listing Rule 7.2 exception and without a disclosure document under the Corporations Act. The company noted that its weekly infill and resource drilling program remains ongoing, with samples progressively submitted for assay to support resource definition, grade control and mine planning, but stressed that current drilling information is incomplete and not yet suitable for release under ASX and JORC requirements.

NMR confirmed it is compliant with its continuous disclosure and financial reporting obligations and that there is no additional excluded information requiring disclosure in relation to the new share issue. The cleansing notice accompanying the issuance is intended to ensure that the new shares can be traded on-market, while the company refrained from providing any assurances or statements about the outcome of the ongoing drilling activities.

The most recent analyst rating on (AU:NMR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Native Mineral Resources Holdings Ltd. stock, see the AU:NMR Stock Forecast page.

More about Native Mineral Resources Holdings Ltd.

Native Mineral Resources Holdings Ltd is an ASX-listed resources company focused on mineral exploration and development. The company is engaged in drilling programs aimed at defining resources, supporting grade control and underpinning future mine planning across its projects.

Average Trading Volume: 2,854,373

Technical Sentiment Signal: Hold

Current Market Cap: A$86.74M

See more data about NMR stock on TipRanks’ Stock Analysis page.