Business · Companies · 2 hrs ago
Northstone secures $2.37m for Serbian gold and copper exploration
Northstone secured commitments for a $2.37 million share placement to fund work on its Serbian gold-silver and copper projects.
The Australian-listed company will issue new shares to investors, including existing shareholders.
The funds will support Tlamino and Timok East, two exploration projects in Serbia.
At Tlamino, drilling at the Barje deposit is being used to update the geological model and assess the extent of gold-silver mineralisation.
Northstone is targeting its first JORC resource estimate for Tlamino in the December quarter, followed by work on a scoping study.
Barje has an earlier resource estimate from 2021 under a different reporting framework, but it is not classified as a JORC resource.
Timok East gives the company a second focus in Serbia, with copper targets east of the Bor mining district.
Further drilling and exploration results are among the next steps the company has outlined.
Northstone Resources has secured commitments for an oversubscribed $2.37 million share placement to advance its gold-silver and copper projects in Serbia.
The company plans to use the funds at its Tlamino and Timok East projects.
A maiden JORC resource estimate for Tlamino remains targeted for the December quarter.
The placement involves 263,444,444 new shares at 0.9 Australian cents each.
Directors and management have committed $240,000 to the raising, subject to shareholder approval.
- Who
- Northstone Resources, an Australian-listed company, secured the commitments.
- What
- It secured an oversubscribed $2.37 million placement to fund exploration at its Serbian projects.
- When
- The article was published on November 5, 2026. A maiden Tlamino resource estimate is targeted for the December quarter.
- Where
- The Tlamino and Timok East projects in Serbia.
- Why
- To advance gold-silver exploration at Tlamino and copper exploration at Timok East.
This story does not have two clearly opposing sides.
Northstone reported high-grade drilling intersections, including 36m at 5.85g/t gold equivalent.
The company reported further confirmation of gold-silver continuity at Barje, with results from 31 of the first 33 infill holes received.
Stockhead reported that Northstone had secured commitments for the $2.37 million placement.
Northstone is targeting release of a maiden JORC resource estimate for Tlamino.
- Placement size
- $2.37 million
- New shares
- 263,444,444 at 0.9 Australian cents each
- Directors and management commitment
- $240,000, subject to shareholder approval
- Tlamino resource target
- December quarter
- Barje 2021 non-JORC resource
- About 670,000oz gold equivalent at 2.9g/t
What people are saying
Record drilling outside the 2021 estimate and infill results confirming continuity give us real confidence heading into the resource update.
These funds position us to keep advancing our Serbian portfolio, with a clear focus on building value at Tlamino and Timok East.