Kali Metals has successfully raised $1.2 million through a discounted share placement, aiming to boost exploration at its Marble Bar and Higginsville projects. The capital injection signals renewed momentum for the company’s gold and lithium ambitions.
- Raised $1.2 million via placement of 8.66 million shares at $0.14 each
- Placement shares issued at a 20% discount to last close price
- Funds earmarked for Marble Bar Gold and Higginsville lithium projects
- Shares to rank equally with existing shares under ASX Listing Rule 7.1
- Placement supported by new and existing institutional and sophisticated investors
Capital Raising to Fuel Exploration
Kali Metals Limited (ASX – KM1) has announced a $1.2 million capital raising through a placement of 8.66 million new shares priced at $0.14 each. This placement, executed under the company’s existing ASX placement capacity, represents a 20% discount to the last closing price and a 12.6% discount to the 15-day volume weighted average price. The funds are set to underpin ongoing exploration activities at Kali’s key assets in Western Australia.
Focus on Marble Bar and Higginsville Projects
The capital injection will primarily support the maiden drilling program at the Marble Bar Gold Project, a highly anticipated phase for the company as it seeks to unlock value from this prospective gold tenure. Additionally, the funds will bolster exploration efforts at the Higginsville Project, where Kali is advancing its substantial lithium portfolio. These projects sit within a broader portfolio spanning over 4,000 square kilometres across the Pilbara, Eastern Yilgarn, and Southern Lachlan Fold Belt regions, positioning Kali Metals as a diversified explorer in both gold and critical minerals.
Investor Confidence and Strategic Positioning
Managing Director Paul Adams expressed satisfaction with the strong support from both new institutional and sophisticated investors, highlighting the market’s confidence in Kali’s exploration strategy. The placement shares will rank equally with existing shares, ensuring no preferential treatment and maintaining shareholder equity balance. The company’s ability to attract capital at this stage reflects a positive market view on its asset quality and growth potential.
Looking Ahead
With settlement expected by late August and new shares to be issued shortly after, Kali Metals is poised to accelerate its exploration timeline. The coming months will be critical as drilling results from Marble Bar and further developments at Higginsville could provide significant catalysts for the company’s valuation and investor sentiment.
Bottom Line?
Kali Metals’ fresh capital injection sets the stage for pivotal exploration updates that could reshape its growth trajectory.
Questions in the middle?
- What initial results can investors expect from the upcoming Marble Bar drilling program?
- How will the lithium potential at Higginsville influence Kali Metals’ strategic focus?
- What impact will the placement have on share dilution and future capital needs?