Rapid Critical Metals Secures $10.5M to Acquire and Explore NSW Silver Projects
Rapid Critical Metals has successfully raised A$10.5 million through a two-tranche placement to fund the acquisition of the Conrad and Webbs Silver Projects in New South Wales, setting the stage for an accelerated exploration campaign.
- A$10.5 million raised via placement at A$0.024 per share post consolidation
- Funds to complete acquisition of Conrad and Webbs Silver Projects in NSW
- Exploration programs including geophysics and drilling to commence June 2025
- Strong support from institutional and existing shareholders, including Strata Investment Holdings
- Shareholder approvals for tranche placements scheduled for July and August EGMs
Capital Raising Success
Rapid Critical Metals Limited (ASX – RCM) has announced a successful capital raising effort, securing A$10.5 million through a two-tranche placement priced at A$0.024 per share following a 12-for-1 consolidation. This funding round attracted strong interest from both existing and new institutional, sophisticated, and professional investors, signaling confidence in the company’s strategic direction.
The placement is structured with tranche 1 raising A$10 million subject to shareholder approval at an Extraordinary General Meeting (EGM) scheduled for 7 July 2025, and tranche 2 raising A$0.5 million, with participation from major shareholder Strata Investment Holdings pending approval at a subsequent EGM expected in August.
Strategic Acquisition of Silver Projects
Proceeds from the placement, combined with existing cash reserves, will fund Rapid’s acquisition of 100% ownership of the Conrad and Webbs Silver Projects located in the New England Fold Belt of New South Wales. These projects, previously owned by Silver Metal Group Limited, have not seen modern exploration or drilling in over a decade, presenting an opportunity to uncover new silver deposits through contemporary techniques.
Rapid’s management emphasizes the potential to unlock value rapidly by targeting new, parallel, and blind structures that could lead to significant silver discoveries in the district. The acquisition aligns with the company’s growth strategy to expand its footprint in high-potential silver exploration assets.
Accelerated Exploration Plans
Following completion of the acquisition, Rapid plans to immediately implement exploration programs at the Webbs Silver Project. These initiatives will focus on expanding and upgrading the existing JORC Mineral Resource Estimate through targeted geophysics, drilling, and metallurgical studies, with activities set to commence in June 2025.
Managing Director Martin Holland expressed satisfaction with the capital raising outcome, highlighting the strong support from shareholders and the strategic use of funds to advance the company’s objectives. The involvement of Strata Investment Holdings, Rapid’s largest shareholder, further underscores confidence in the company’s prospects.
Looking Ahead
The upcoming EGMs in July and August will be pivotal in securing shareholder approval for the placement tranches, enabling Rapid to proceed with the acquisition and exploration plans. Market participants will be watching closely for updates on exploration results and resource upgrades, which will be critical in validating the potential of these NSW silver projects.
Bottom Line?
Rapid Critical Metals’ capital raise and acquisition set the stage for a pivotal exploration phase that could redefine its silver resource profile.
Questions in the middle?
- Will shareholder approvals at the upcoming EGMs proceed smoothly to finalize the placement tranches?
- What early exploration results can investors expect from the Webbs and Conrad projects starting mid-2025?
- How might the acquisition impact Rapid’s valuation and positioning within the silver exploration sector?
