Warriedar Resources Raises $9.1M in Oversubscribed Share Purchase Plan
Warriedar Resources has successfully closed an oversubscribed Share Purchase Plan, raising $9.1 million; well above its initial $2 million target; and securing a total of $21 million in funding to accelerate exploration at its Golden Range Gold Project.
- SPP raised $9.1 million, exceeding $2 million target
- Participation from 603 shareholders, 23.77% of eligible investors
- SPP size increased to $4 million due to strong demand
- Total funds raised including placement, $21 million
- Funds earmarked for exploration drilling and working capital
Strong Demand Drives Oversubscribed SPP
Warriedar Resources Limited (ASX, WA8) has announced the successful completion of its Share Purchase Plan (SPP), which closed on 17 June 2025 with applications totaling approximately $9.1 million. This figure significantly surpasses the original $2 million target, prompting the company to increase the SPP size to $4 million to accommodate the overwhelming investor interest.
The SPP attracted participation from 603 eligible shareholders, representing nearly 24% of those invited, with an average application amount of around $17,000. Despite the strong demand, the company implemented a scale back to ensure equitable share allocation, with a minimum allotment of 10,000 shares per applicant.
Capital Raise Strengthens Exploration Ambitions
Combined with a prior placement, Warriedar has now secured a total of $21 million before costs. These funds are earmarked to accelerate exploration drilling and provide additional working capital for the Golden Range Gold Project in Western Australia’s Southern Murchison region. The project, particularly the highly prospective Golden Corridor, is central to Warriedar’s strategy to become a major exploration player in the area.
Managing Director Amanda Buckingham highlighted the significance of the strong investor response, noting it reflects confidence in the company’s progress and outlook. With the new capital, Warriedar aims to fast-track mineral resource upgrades for both gold and antimony, pursue new discoveries, and advance through study phases at Golden Range.
Next Steps and Market Implications
The 40 million new fully paid ordinary shares issued under the SPP are expected to commence trading on 24 June 2025, with holding statements to be dispatched shortly thereafter. Investors are advised to verify their holdings before trading these new shares. The company’s zero-debt position combined with this fresh capital injection positions it well to execute its exploration plans without immediate financial constraints.
While the scale back methodology was designed to be fair, the exact allocation percentages remain undisclosed, leaving some uncertainty about individual shareholder outcomes. Market watchers will be keen to observe how the share price reacts once the new shares begin trading and how exploration results influence Warriedar’s valuation moving forward.
Bottom Line?
Warriedar’s oversubscribed SPP not only boosts its war chest but also sets the stage for an intensified exploration push at Golden Range.
Questions in the middle?
- What specific exploration milestones will Warriedar target with the new funding?
- How will the scale back impact shareholder sentiment and future participation?
- What are the potential market reactions once the new shares start trading?
