Uvre Secures $4M to Accelerate NZ Gold Exploration After Otagold Buy
Uvre Limited has completed a $4 million equity raise to fund its acquisition of Otagold and fast-track exploration at New Zealand gold projects. The capital raise saw strong director participation, signaling confidence in the company’s new strategic direction.
- Completed $4 million equity raise via 50 million shares at 8 cents each
- Funds to support 100% acquisition of Otagold and exploration in New Zealand
- Shareholder approval secured for share issue and director participation
- Incoming and existing directors invested a combined $685,000
- Shares to rank equally with existing shares; quotation process underway
Capital Raise Completes Amid Strategic Shift
Uvre Limited (ASX, UVA) has successfully closed a $4 million equity raise, issuing 50 million new shares priced at 8 cents each. This capital injection is a pivotal step in the company’s recent strategic pivot, underpinning its full acquisition of Otagold and accelerating exploration efforts at promising gold projects in New Zealand.
The equity raise was led by Bell Potter and received robust support from shareholders, including key participation from both incoming and existing board members. Notably, incoming directors Norman Seckold and Peter Nightingale contributed $500,000 and $100,000 respectively, while current directors Brett Mitchell and Alex Passmore invested $50,000 and $35,000. This level of insider investment often signals strong confidence in the company’s future prospects.
Backing the Otagold Acquisition
The funds raised are earmarked to fast-track exploration programs at Otagold’s New Zealand gold projects, which Uvre now fully owns. While specific allocation details remain under wraps, the acquisition and subsequent capital raise clearly indicate Uvre’s commitment to expanding its footprint in the gold exploration sector. New Zealand’s geology offers compelling potential, and Uvre’s move positions it to capitalize on this opportunity swiftly.
Shareholder approval for the equity raise was secured at a general meeting held on 27 June 2025, satisfying ASX Listing Rule requirements. The company also issued a cleansing notice under the Corporations Act, ensuring compliance and transparency for investors. The new shares will rank equally with existing shares, maintaining shareholder value integrity.
Looking Ahead
With the equity raise complete and the Otagold acquisition finalized, Uvre is poised to advance its exploration agenda. Market watchers will be keen to see how quickly the company can translate this capital into tangible exploration milestones and whether the New Zealand projects deliver on their promise. The involvement of new directors with significant skin in the game adds an extra layer of governance and strategic oversight as Uvre embarks on this next phase.
Bottom Line?
Uvre’s $4 million raise marks a decisive step toward unlocking New Zealand gold potential, but execution will be key.
Questions in the middle?
- What specific exploration milestones will Uvre target with the new funds?
- How will the Otagold acquisition reshape Uvre’s long-term growth strategy?
- What timeline can investors expect for initial results from the New Zealand projects?
