Nagambie Resources Limited
Nagambie Resources Limited targets epizonal-style, high-grade antimony and gold mineralisation across a ~1,000 sq km contiguous tenement holding in the Waranga Domain of the Melbourne Structural Zone, northern-central Victoria -- near the Fosterville (Agnico Eagle) and Costerfield (Mandalay Resources) gold-antimony mines. Its 100%-owned Nagambie Mine hosts a Nov 2024 JORC Inferred Mineral Resource of 539,000t at 3.9% Sb and 3.3 g/t Au (20,800t contained antimony, 58,000oz contained gold at 18.6 g/t AuEq combined) -- Australia's highest-grading antimony resource -- with exploration targeting extensions deeper beneath the 1990s-era open pits. A second diamond drill rig was deployed in 2026 (in collaboration with Mandalay Resources' Costerfield operation) targeting further high-grade antimony-gold discovery, and a March 2026 Share Purchase Plan funded an initial drilling program at the separate Whroo Mines Gold-Antimony Project. The company also holds the Whroo Goldfields and Nagambie Joint Venture tenements.
Notable vs. Peers
- Financials score of 1.2/10 is weaker than the peer average of 5/10.
Lifecycle Milestones
Not in place: mill, tailings facility. Not yet determined: road access, grid power.
Jurisdiction (40%)9/10
Victoria: Fraser PPI 2025 is 73.81 of 100 (rank 34 of 68), which maps to 9 on this site's scale. Victoria, Australia -- Tier-1 mining jurisdiction.
Infrastructure (40%)2.9/10
No confirmed mill and no confirmed tailings facility at Nagambie Antimony-Gold Project, Waranga Domain, Victoria, Australia; road access and grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)8.7/10
Costerfield (Alkane Resources Limited) is 39 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:6.1/10
Nearest producing mine: Costerfield (Alkane Resources Limited), 39 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:3.5/10
Stage: Resource Definition
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:2/10
Primary commodity: Other
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Non-Executive Chairman of Nagambie Resources Limited (ASX: NAG). Certified Practising Accountant; consultant to PPT Accounting after being a partner there for 40+ years; consultant to PPT Financial Pty Ltd. Previously a Nagambie director 17 Sep 2010 - 30 Jun 2019, serving as Deputy Chairman and Audit & Compliance Committee Chair. Source: nagambieresources.com.au/corporate/leadership.
Executive Director of Nagambie Resources Limited (ASX: NAG). Mining engineering degree (first class honours), University of Queensland; MBA, Macquarie University; Fellow, Australian Institute of Mining and Metallurgy. 40+ years' broad mining industry experience with MIM, Renison, WMC, CRA, AMAX, Nicron and BCD Resources. 1983-1991: senior executive role expanding ACM Gold's Australian operations, including Project Manager/Resident Manager of the Westonia open pit gold mine, WA (1985-1987) and General Manager - Investments, ACM Group (1987-1991). 1993-2011: Director, BCD Resources Group (Beaconsfield underground gold mine, Tasmania); sole Executive Director 1993-2003; Managing Director 2003-2004. Source: nagambieresources.com.au/corporate/leadership.
Chief Executive Officer of Nagambie Resources Limited (ASX: NAG), appointed 4 Jul 2016; also Executive Director. Bachelor of Engineering (Geological Engineering), RMIT University; Masters of Environmental Management, UNSW; MBA. 20+ years' experience in permitting, approvals, project management and stakeholder engagement; prior positions with GHD, Ramboll, Waterman Group and government departments (Australia and UK); lecturer at the Australian National University's Crawford School of Public Policy (current, concurrent). Source: nagambieresources.com.au/corporate/leadership.
Non-Executive Director of Nagambie Resources Limited (ASX: NAG). Degrees in mining and mechanical engineering; Fellow, Australasian Institute of Mining and Metallurgy; Chartered Professional Member, Engineers Australia. 40+ years in the resources industry across Australia and Africa; senior roles with Rio Tinto, Equigold NL, Macmahon Holdings and WMC Resources; as General Manager Operations for Equigold NL, led the successful development, construction and commissioning of the Mt Rawdon Gold Mine, Queensland, to full operational level. Former Non-Executive Director of Discovex Resources Ltd (2019-2024) and Strickland Metals Ltd (2021-2024). Source: nagambieresources.com.au/corporate/leadership.
Company Secretary of Nagambie Resources Limited (ASX: NAG). Source: nagambieresources.com.au/corporate/corporate-directory.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Alkane Resources -- a real ASX gold producer that owns the Tomingley mine -- is currently running an active drilling programme at the Nagambie Mine, confirmed by two 2026 announcements: drilling commenced in June and a second diamond drill rig went in in July. The specific earn-in or joint-venture percentage was not established. Two director share-interest notices and one substantial-holder change also appear on the company's ASX announcement list in 2026, but we could not confirm from the reachable page content whether they were buys or sells, so nothing was credited for them. No named specialist fund holds a disclosed position.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Nagambie Resources targets high-grade antimony and gold across about 1,000 sq km of contiguous tenements in the Waranga Domain of northern-central Victoria, near the Fosterville and Costerfield gold-antimony mines. Its Nagambie Mine hosts a November 2024 JORC resource, entirely inferred, of 539,000t at 3.9% antimony and 3.3 g/t gold, containing 20,800t of antimony and 58,000 oz of gold. Alkane Resources is earning into the Nagambie Mine licences under an earn-in agreement executed in April 2026, and a second diamond rig, run with Alkane's Costerfield subsidiary Mandalay Resources, was added in July 2026 to expand the resource. A March 2026 share purchase plan funded initial drilling at the separate Whroo gold-antimony project, and the company also holds the Whroo Goldfields and Nagambie joint venture tenements.