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Highlights

  • Wes Maas contributes second AU$2.26M instalment toward an AU$6.8M commitment under the Maas Placement.

  • NMR raises AU$15.9M through its Entitlement Offer to fund restart of gold production.

  • Charters Towers gold production on track for Q3 2025, with drilling and plant refurbishment underway.

Native Mineral Resources Holdings Limited (ASX:NMR) has secured a further AU$2.26 million investment from Wes Maas, CEO and Managing Director of Maas Group Holdings (ASX:MGH), marking the second tranche of his total AU$6.8 million commitment under the company’s Maas Placement initiative.

This additional funding follows the successful completion of NMR’s recent non-renounceable Entitlement Offer, which brought in AU$15.9 million in capital. The funds are being channelled toward advancing the company’s gold production strategy at its Charters Towers assets in North Queensland.

Progress at Charters Towers

The fresh capital is set to accelerate development work at the Far Fanning and Blackjack gold deposits, where activity is already well underway. Central to the project is the refurbishment of the Blackjack Processing Plant, which is progressing on schedule. NMR remains on track to pour its first gold from the site in Q3 2025.

In parallel, resource definition drilling at the Blackjack Project is set to begin shortly. This follows encouraging results from the company’s recent diamond drilling program, which has reinforced confidence in the project's long-term potential.

Executive Perspective

Commenting on the latest investment milestone, NMR Managing Director Blake Cannavo said,
“Wes Maas’ second instalment of $2.26 million represents another important step forward for NMR as we move closer to gold production. His continued support is a strong endorsement of our project, our goals and the path we’re on, further positioning us as we work to become Queensland’s newest gold producer.”

The partnership with Wes Maas adds significant momentum to NMR’s development plans, as the company looks to transition from explorer to producer status in the coming year.

Looking Ahead

With drilling set to expand the resource base and plant refurbishment nearing key milestones, NMR’s focus is now firmly on delivering first gold within the next 18 months.