The placement, which issued new fully paid ordinary shares at $0.18 per share via a single tranche to corporate, professional, sophisticated, and institutional investors, included commitments by shareholder Northern Star Resources (ASX:NST). The mining major, which has a market capitalisation of $8.93 billion, was to increase its shareholding to 4.95% (from 2.27%) in Nexus as a result of participating, which Tudor noted is a " very positive " sign for Nexus. " With our Wallbrook tenure intertwined with their (Northern Star's) porphyry mining centre tenure, it certainly shows their confidence in the Nexus assets and our ongoing exploration success in the region ." Euroz Hartleys acted as lead managers and bookrunner to the placement. Nexus will now deploy the capital to continue working with company consultants to complete the geology and mineralisation model component of the MRE.