SSH Group Raises $2.75 Million at $0.105 per Share to Fuel Mining Expansion

Strategic Capital Raise Backed by Industry Leaders

SSH Group Ltd (ASX, SSH) has successfully secured firm commitments to raise $2.75 million through a placement that attracted strong interest from institutional funds, sophisticated investors, and senior mining executives. The highlight of the raise is the participation of Ross Stewart Norgard, a respected figure in the Australian mining sector, who has committed $1.1 million as a cornerstone investor. Mr Norgard’s track record includes founding roles and major shareholdings in Brockman Mining Limited and Nearmap Limited, both of which grew to market capitalisations exceeding US$1 billion.

This endorsement from a seasoned mining entrepreneur signals confidence in SSH Group’s strategic direction and operational capabilities, particularly as the company seeks to expand its vertically integrated mining services platform.

Growth Strategy and Use of Funds

The capital raised will be deployed to accelerate SSH Group’s growth initiatives within the mining sector. Key priorities include evaluating and commercialising low-grade gold stockpiles at the Mt Fisher Gold Project, mobilising operations for the Gold Duke Project where SSH is the preferred tenderer, and executing existing mining joint ventures and profit-share opportunities. Additionally, the company plans to assess direct project ownership and pursue strategic acquisitions in the mining services space, alongside providing general working capital to support ongoing operations.

SSH Group’s Managing Director, Daniel Cowley-Cooper, expressed enthusiasm about the strong investor support and the company’s prospects, highlighting the firm establishment of the SSH Mining platform and its potential to deliver value-accretive outcomes in Western Australia’s mining industry.

Placement Details and Shareholder Approval

The placement involves issuing over 26 million fully paid ordinary shares at $0.105 per share, accompanied by a 1-for-2 free attaching unlisted option exercisable at $0.25 within two years. The issue price represents a discount to recent trading prices, a common feature in capital raises to incentivise participation. Directors are set to participate with $100,000 worth of shares, pending shareholder approval.

While a significant portion of the shares will be issued under existing placement capacities, the remainder, including director participation and all options, will require approval at an upcoming General Meeting. Joint Lead Managers GTT Ventures and Taurus Capital will receive placement fees and broker options as part of their mandate.

Outlook and Market Implications

With a strengthened balance sheet and high-profile investor backing, SSH Group is positioned to accelerate its expansion in the mining services sector. The company’s focus on integrating services vertically and pursuing strategic projects could enhance its competitive positioning in Western Australia’s resource-rich environment. However, execution risks remain, particularly around project mobilisation and acquisition integration, which investors will watch closely in the coming months.