Iltani’s $1.8M Placement at 21.5 Cents Sets Up Next Phase of Drilling
Iltani Resources has raised $1.8 million through a share placement and launched a $1 million Share Purchase Plan to fund exploration at its promising Orient Silver-Indium Project.
- Raised $1.8 million via placement at $0.215 per share
- Placement price set at 10.4% discount to last traded price
- Share Purchase Plan targeting up to $1 million from eligible shareholders
- Funds earmarked for exploration at Orient Project and general working capital
- Settlement expected by 28 May 2025; SPP offer opens 29 May
Capital Raising to Accelerate Exploration
Iltani Resources Limited (ASX: ILT) has successfully secured commitments to issue over 8.3 million new shares through a private placement, raising approximately $1.8 million before expenses. The placement price of 21.5 cents per share represents a modest 10.4% discount to the company’s last traded price, reflecting a balance between attracting investors and preserving shareholder value.
The funds raised will primarily support exploration activities at the company’s flagship Orient Silver-Indium Project, located in Northern Queensland. This project has garnered attention for its high-grade silver-lead-zinc-indium mineralisation, positioning it as one of Australia’s most exciting discoveries in the precious metals sector.
Share Purchase Plan Offers Additional Participation
In addition to the placement, Iltani is offering eligible shareholders in Australia and New Zealand the opportunity to participate in a Share Purchase Plan (SPP). This initiative allows shareholders to apply for up to $30,000 worth of shares at the same issue price as the placement, with the company targeting to raise up to $1 million through this mechanism. The directors have expressed their intention to participate, signalling confidence in the company’s prospects.
The SPP offer is scheduled to open on 29 May 2025 and close on 20 June 2025, with shares expected to commence trading on the ASX by 30 June. This dual approach to capital raising not only broadens the shareholder base but also provides existing investors with a chance to increase their stake on favourable terms.
Strategic Implications and Market Reception
Managing Director Donald Garner highlighted the strong demand for the placement as a testament to the quality of Iltani’s projects and the potential for significant shareholder returns. The capital injection is timely, enabling the company to advance drilling and exploration programs that could unlock further value at the Orient Project and other areas of interest.
With Canary Capital acting as lead manager, the placement and SPP reflect a well-orchestrated effort to strengthen the company’s financial position amid a competitive mining exploration landscape. Investors will be watching closely to see how the additional funds translate into exploration success and whether Iltani can maintain momentum in its quest to develop critical minerals for a low-emission future.
Bottom Line?
Iltani’s latest capital raise sets the stage for accelerated exploration—next steps will reveal if the market’s confidence is well placed.
Questions in the middle?
- Will the Share Purchase Plan reach its $1 million target, and how will oversubscriptions be handled?
- What are the next exploration milestones at the Orient Silver-Indium Project following this funding?
- How might the share placement discount impact short-term share price performance?