The company said the placement to institutional and sophisticated investors will comprise about 101.9 million fully paid ordinary shares priced at A$0.053 each, before costs. Nexus said the offer price represented discounts to its 16 September closing price and recent volume-weighted average prices.
According to Nexus, proceeds and existing cash will support aircore, RC and diamond drilling at Wallbrook, including work intended to improve geological confidence and mineral resource classification at the Payns and Branches prospects. Planned uses also include target generation at the NSW Mineral Project, geophysical surveys and general working capital.
Nexus expects settlement on 24 September 2026 and allotment and trading of the new securities on 25 September 2026. The company said Canaccord Genuity (Australia) and Bell Potter Securities acted as joint lead managers and bookrunners.
Source: NXM official ASX announcement, 2026-09-21.
File image from earlier MES coverage: Nexus more than doubles Wallbrook gold resource to 631,000oz. Not an image of the current announcement.