Ann: $8.1M Institutional Placement to Accelerate Exploration, page-5

Agree. As much as I was a bit annoyed about the raise, this actually looks pretty good.
Now have $12mill in cash and 2 new substantial holders that(from what NXM implies) like to invest long term. The top 20 will now look quite tidy with 3 substantial holders(2 institutional investors) and then Northern Star/Saracen and Lowell Resources Fund both holding a decent % also.

No mention of putting funds towards production but as Robbo pointed out in the Qtr report….Pinnacles is advancing in that regard. Also note that as per the quarterly, they have begun preparing the mine proposal and closure plans for the Crusader-Templar deposit as well.

Things definitely ticking along in the background and it’s very promising too see these big investors/companies starting to take an interest in little old NXM.