Many Peaks Raises A$13.5M to Accelerate Ferke Exploration and Boosts Director Pay

Capital Raise to Fuel Exploration Ambitions

Many Peaks Limited (ASX – MPK) has successfully completed a significant capital raise, securing A$13.5 million through a private placement to institutional and high-net-worth investors. The placement, priced at A$0.72 per share, represents a 5% premium to the company's 15-day volume weighted average price, signaling strong investor confidence in Many Peaks’ exploration prospects.

The funds raised will primarily support the company’s inaugural Mineral Resource Estimate and the initiation of extensive exploration activities at the Ferke South Exploration Licence Application. This strategic injection of capital is expected to accelerate Many Peaks’ progress in defining and expanding its resource base in Western Australia, a region known for its mineral potential.

Placement Structure and Management

The placement was executed in two tranches, with the majority of shares issued under the company’s existing placement capacity, and a smaller portion subject to shareholder approval expected in August 2025. The transaction was co-managed by Blackwood Capital Ltd and Canaccord Genuity, with Blackwood Capital playing a lead role. The careful scaling back of applications to agreed levels reflects a disciplined approach to capital raising, balancing the need for funds with shareholder interests.

Governance and Remuneration Updates

In tandem with the capital raise, Many Peaks’ Board has approved increases to director fees effective 1 August 2025. The adjustments aim to align remuneration with the company’s growth trajectory and the heightened responsibilities borne by its directors. Notably, the Non-Executive Chairman’s fee will rise from A$60,000 to A$100,000, while other directors will see proportional increases. This move underscores the company’s commitment to attracting and retaining experienced leadership as it advances its exploration agenda.

Overall, the placement and governance updates position Many Peaks to capitalize on its exploration opportunities while maintaining robust oversight and incentivization structures. Investors will be watching closely for the outcomes of the Mineral Resource Estimate and subsequent drilling results, which will be critical in validating the company’s growth story.