How Will Locksley Deploy $5.3M to Unlock Mojave’s Critical Minerals?

Strong Institutional Backing for Critical Minerals Ambitions

Locksley Resources Limited (ASX – LKY) has successfully completed a heavily oversubscribed capital raising, securing approximately $5.3 million through a placement priced at 9.5 cents per share. The raise was led by Tribeca Investment Partners, a globally recognized resources-focused investment firm, signaling strong institutional confidence in Locksley’s strategic focus on critical minerals in the United States.

The placement attracted a broad range of professional and institutional investors, including more than a dozen new institutions joining Locksley’s shareholder register. This influx of long-term capital partners provides the company with a robust financial foundation to advance its exploration and development plans.

Targeting High-Grade Antimony and Rare Earths in the Mojave Desert

Proceeds from the placement will primarily fund additional drilling at the Mojave Project in California, where Locksley is targeting high-grade antimony and rare earth element mineralization. The project’s location adjacent to MP Materials’ Mountain Pass Mine; the only rare earths mine in the U.S.; underscores its strategic importance amid growing geopolitical pressures to diversify supply chains away from China.

Notably, the Mojave Project includes the historic Desert Antimony Mine, which last operated in 1937 but boasts surface samples grading up to 46% antimony and significant silver content. With no current domestic antimony production in the U.S., the project aligns well with national priorities for critical mineral independence and economic security.

Advancing Downstream Processing and Operational Readiness

Beyond exploration, the funds will support progressing U.S. federal permitting and downstream processing initiatives, critical steps toward adding value beyond raw mineral extraction. Locksley’s strategy to develop downstream capabilities could position it as a key player in the supply chain for defense, semiconductor, and alloy industries reliant on antimony and rare earths.

The placement was structured in two tranches, with the first tranche raising approximately $4.35 million under existing placement capacity, and the second tranche of $1 million subject to shareholder approval at an upcoming Extraordinary General Meeting. The company expects settlement of the placement around early August, with new shares to rank equally with existing shares.

Broader Portfolio and Strategic Outlook

While the Mojave Project is the immediate focus, Locksley also holds the Tottenham Copper-Gold Project in New South Wales, Australia, targeting volcanogenic massive sulfide mineralization. The company’s dual-asset portfolio reflects a balanced approach to critical and base metals exploration across two continents.

Chairman Nathan Lude emphasized the significance of the placement, stating it positions Locksley strongly to execute its growth strategy and unlock value from its U.S.-based critical minerals assets. The endorsement from Tribeca and the expanded institutional base may also enhance market confidence as Locksley advances its exploration and development milestones.