Building supplies heavyweight Wes Maas is backing Native Mineral Resources’ bid to get into gold production in the Charters Towers area.

The Maas Group chief executive officer and managing director has conditionally agreed to take up to 19.9 per cent of the issued shares in NMR under the terms of the company’s existing entitlement offer.

The company said Mr Maas’s anticipated investment of at least $6.5 million if the minimum subscription condition was met would be accepted as part of any shortfall that may arise from the entitlement offer (closing today), which aimed to raise up to $15.9 million in total before costs.

Funds will be used to help bring NMR’s gold projects in the Charters Towers region into production, including its Far Fanning and Blackjack gold deposits and Blackjack processing facility.

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“I’m incredibly excited about the potential of NMR’s Charters Towers assets to deliver attractive returns in the near future,” Mr Maas said.

“NMR has hit the ground running since acquiring these projects late last year and I believe that the quality of NMR’s assets will create significant long-term value.

“With gold production targeted for Q3, NMR is positioned for rapid growth over the next few months, and I’m looking forward to supporting its journey to production in 2025.”

NMR managing director and chief executive officer Blake Cannavo will take up his full entitlement under the entitlement offer of $3,002,376 and will also provide additional funding of up to $1.2 million via convertible notes, if required.

Mr Cannavo said having Mr Maas conditionally commit to invest in any shortfall from the current entitlement offer was a significant endorsement of the company and its plan to advance the Far Fanning and Blackjack gold projects.

“With this funding supporting the development of the newly acquired projects, NMR is well positioned to transition to a potential gold producer in the short term,” he said.