Alvo Raises Capital with $0.05 Share Offer Extended to 13 May 2025

Entitlement Offer Extension

Alvo Minerals Limited (ASX: ALV) has announced an extension to the closing date of its pro-rata non-renounceable entitlement offer, moving the deadline from 6 May to 13 May 2025. This extension provides shareholders with an additional week to participate in the capital raising initiative, which is priced at $0.05 per new share. Alongside the new shares, investors receive one free attaching option for every two new shares subscribed.

The entitlement offer allows eligible shareholders to acquire one new fully paid ordinary share for every two shares they currently hold. The company’s decision to extend the offer period suggests a strategic effort to maximize shareholder uptake and ensure sufficient capital is raised to support its exploration programs.

Strategic Projects Underpinning the Raise

Alvo’s exploration focus remains firmly on its portfolio in central Brazil, notably the Palma VMS copper-zinc project and two Ionic Clay rare earth element (REE) projects, Bluebush and Ipora. The Palma project boasts a JORC 2012 Mineral Resource Estimate of 7.6 million tonnes at 2.0% copper equivalent, highlighting significant base metal potential. Meanwhile, the REE projects tap into the growing demand for critical minerals essential to emerging technologies and clean energy applications.

These projects form the backbone of Alvo’s growth strategy, which is structured around discovery, expansion, and resource upgrading phases. The capital raised through the entitlement offer is expected to accelerate drilling and exploration activities, potentially unlocking further value for shareholders.

Timetable and Next Steps

Following the extended closing date, the company will announce the results of the entitlement offer and any shortfall on 20 May 2025. New shares and options are scheduled for issue on the same day, with quotation commencing on 21 May. A shortfall offer will remain open for up to three months thereafter, allowing the company to place any unsubscribed shares.

Investors are encouraged to review the prospectus carefully and consider the risks associated with investing in exploration companies. The extension signals Alvo’s commitment to providing shareholders ample opportunity to participate while positioning itself to fund its ambitious exploration agenda.