Nex Metals Explorations (ASX:NME) successfully raises $1.5m equity

Nex Metals Explorations Ltd (ASX:NME) has successfully completed a $1,530,000 equity raise through a share placement to institutional and sophisticated investors. The funds raised will be utilized for assessing development options for the Kookynie Tailings Project, JV expenditure on NEX-held tenements, working capital, and exploring potential value-adding acquisition opportunities. The settlement of the placement is expected to occur on Tuesday, 17 September 2024.

Executive Commentary on Successful Equity Raise

In line with the Company announcement on 27 August 2024 'Kookynie Gold Project Update', I and the Company have both hit the road running with steps to progress the Company's assets and to look at future Gold project acquisitions from my years of experience in the industry. This placement by Indian Ocean Capital shows a vote of confidence in the new team at NEX.

Summary of Nex Metals Explorations (ASX:NME) Equity Raise

Nex Metals Explorations Ltd (ASX:NME) has successfully completed a $1,530,000 equity raise to accelerate the development of the Kookynie Tailings Project, JV expenditure on NEX-held tenements, working capital, and to explore potential value-adding acquisition opportunities. The Company's Chief Executive Officer, Mr Maki Petkovski, expressed confidence in the new team at NEX, highlighting the steps taken to progress the Company's assets and explore future gold project acquisitions. The successful equity raise demonstrates a vote of confidence in NEX's strategic direction and future prospects. The settlement of the placement is expected to occur on Tuesday, 17 September 2024.