Marquee Resources Secures $2.51M to Advance Mt Clement Drilling
Marquee Resources has successfully closed an oversubscribed $2.51 million placement, underscoring strong investor confidence as it prepares for the next phase of drilling at its Mt Clement Antimony Project.
- Oversubscribed placement raises $2.51 million at $0.011 per share
- 228.5 million new shares issued with attaching unlisted options
- Funds earmarked for second phase of Mt Clement drilling program
- Shareholder approval pending for tranche 2 shares and options
- Ignite Equity appointed sole lead manager, receiving fees and options
Strong Investor Backing for Marquee Resources
Marquee Resources Limited (ASX – MQR) has announced the successful completion of a heavily oversubscribed capital raising, securing $2.51 million through a share placement priced at 1.1 cents per share. This funding round attracted participation from sophisticated and professional investors, including high-net-worth individuals and existing shareholders, signaling robust market confidence in Marquee’s strategic direction.
Details of the Placement and Options
The placement involves issuing approximately 228.5 million new shares, with investors receiving one unlisted option for every two shares subscribed. These options carry an exercise price of 2 cents and expire 30 months from issuance. While most shares have been issued under the company’s existing placement capacity, a tranche of 81.8 million shares and all options await shareholder approval at a General Meeting scheduled for late September 2025.
Funding the Next Phase at Mt Clement
The capital raised will primarily fund the second phase of reverse circulation drilling at the Mt Clement Antimony Project, a key asset in Marquee’s portfolio. This drilling program is expected to commence in late September 2025, aiming to further delineate the project’s resource potential. The successful raise ensures that Marquee is fully funded for this critical exploration stage, which could significantly enhance the company’s valuation if results prove promising.
Engagement of Lead Manager and Shareholder Meeting
Ignite Equity Pty Ltd acted as the sole lead manager for the placement, earning customary fees of 6% plus GST and receiving 25.1 million unlisted options, also subject to shareholder approval. The upcoming General Meeting will be pivotal, as shareholder consent is required to finalize the tranche two share issuance and the granting of options to both investors and the lead manager. The outcome of this meeting will shape Marquee’s capital structure going forward.
Looking Ahead
With the capital raising behind it, Marquee Resources is positioned to advance its exploration agenda at Mt Clement. The market will be watching closely for drilling results and the impact of potential dilution from the new shares and options. This funding round not only reflects investor faith but also sets the stage for Marquee’s next growth chapter in the antimony sector.
Bottom Line?
Marquee’s oversubscribed raise fuels exploration momentum but hinges on shareholder approval to unlock full capital potential.
Questions in the middle?
- Will shareholder approval for tranche two shares and options be secured without issue?
- How will the upcoming drilling results at Mt Clement influence Marquee’s valuation?
- What impact will the new shares and options have on existing shareholders’ dilution?
