Olympio’s $1.6M Raise Hinges on Upcoming Assay Results and Shareholder Approval

Capital Raise to Accelerate Exploration

Olympio Metals Limited (ASX – OLY) has successfully secured $1.6 million in fresh capital to advance its exploration activities in Quebec, Canada. The company raised $1.5 million through a placement of 15 million new ordinary shares priced at $0.10 each, representing a modest 13% discount to the last traded price. In addition, Olympio’s directors have pledged to subscribe for a further $100,000, subject to shareholder approval later this year.

Focus on Bousquet and Dufay Projects

The funds will primarily support the ongoing 10,000-metre diamond drilling program at the Bousquet Gold Project, where initial drill holes have already intersected visible gold. This project is strategically located near multi-million ounce gold resources and operational processing plants, underscoring its potential significance. Concurrently, the company plans to advance exploration efforts at the nearby Dufay Copper-Gold Project, broadening its resource base in the region.

Strategic Share Issuance and Adviser Incentives

Alongside the capital raise, Olympio will issue 3.5 million options to advisers as compensation for marketing and project generation services. These options carry an exercise price of $0.15 and will expire three years from issuance, aligning adviser incentives with the company’s future growth prospects.

Market and Shareholder Implications

The new shares from the placement are scheduled for issuance on 4 July 2025, with a general meeting planned for late August to approve the directors’ additional subscription. Olympio’s Managing Director, Sean Delaney, expressed confidence in the projects, highlighting the world-class exploration potential of Bousquet and the proximity to established infrastructure. Investors will be keenly awaiting the first assay results from the current drilling phase, expected imminently, which will provide critical insight into the quality and extent of mineralisation.

While the capital raise strengthens Olympio’s financial position, the true test will be the assay outcomes and subsequent resource updates. The company’s ability to convert visible gold intersections into economically viable resources will be pivotal for its valuation and future funding rounds.