Nexus Minerals hits over 11-year high on raising funds for gold exploration

Nexus Minerals

15/11/2021 03:31

** Shares of gold explorer Nexus Minerals  NXM.AX  rise as
much as 26% to A$0.630, their highest level since June 2010
    ** Co says it received commitments to place about 41.3 mln
shares to raise A$19 mln ($13.95 mln)  urn:newsml:reuters.com:*:nASX7xzFs6
    ** Placement price represents a 8% discount to its last
close on Tuesday, co went on a trading halt on Nov. 10
    ** Says proceeds from placement will be used to ramp up
drilling activities at the Crusader-Templar prospect and other 
exploration activities at the wider Wallbrook Gold Project
located in Western Australia 
    ** Stock posts its biggest intraday percentage gain since
Oct 1
    ** More than 6.3 mln shares change hands, ~3 times their
30-day average of about 1.9 mln shares 
    ** Stock has risen 284.6% this year, as of last close


($1 = 1.3624 Australian dollars)

 (Reporting by Roushni Nair in Bangalore.)
 ((Roushni.Nair@thomsonreuters.com))