Caprice Raises $7M at $0.052 Per Share to Fund 7,000m Drilling Program

Strong Institutional Backing for Placement

Caprice Resources Ltd (ASX, CRS) has successfully raised $7 million through a placement of over 134 million new shares priced at $0.052 each. This price represents a discount ranging from 7.3% to 14.8% against recent trading benchmarks, reflecting a strategic move to secure strong institutional and sophisticated investor support. The placement was notably led by prominent Australian institutions and long-only resources funds, underscoring confidence in Caprice’s exploration potential.

Funding Exploration in High-Grade Goldfields

The proceeds will primarily fund accelerated exploration activities across Caprice’s Murchison Gold Projects, including the Island Gold and Cuddingwarra projects. These programs encompass reverse circulation (RC), aircore, and diamond drilling aimed at expanding resource understanding and targeting new mineralisation. The company recently completed a 7,000-metre RC drilling campaign at Island Gold, with assay results expected within approximately four weeks, a key catalyst for upcoming news flow.

Strategic Positioning with Healthy Cash Reserves

Following the placement settlement, Caprice will hold around $8.5 million in cash, providing a solid financial foundation to pursue its exploration objectives and maintain operational flexibility. The company also plans to initiate geophysical surveys at its West Arunta Project, a region gaining attention for its rare earth and base metal potential, further diversifying its exploration portfolio.

Leadership Confidence and Shareholder Engagement

Caprice’s CEO, Luke Cox, highlighted the strong investor support and the strategic advantage of the projects’ proximity to operating gold mills, which could facilitate future development. Directors have also demonstrated confidence by subscribing for additional shares worth $90,000, subject to shareholder approval. This upcoming approval process will be closely watched as it signals internal alignment with the company’s growth strategy.

Market Implications and Next Steps

With exploration drilling underway and assay results imminent, Caprice is positioned for a period of sustained market engagement. The combination of fresh capital, active drilling, and promising project locations in tier-one jurisdictions sets the stage for potential value re-rating, contingent on exploration success and shareholder endorsement of the placement’s second tranche.