Critical Resources Raises $1.5M in First Capital Tranche, What’s Next?

• Raised $1.523 million before costs via 190.375 million shares and 95.187 million options
• Additional 48.125 million shares and 24.062 million options proposed for directors, pending shareholder approval
• Placement structured in two tranches, with second tranche yet to be completed
• Mineral resource estimates reaffirmed for lithium and base metals projects in Canada, Australia, and New Zealand
• Compliance confirmed with Corporations Act disclosure requirements

Capital Raising Milestone

Critical Resources Limited (ASX – CRR), a diversified explorer focused on battery metals and gold-antimony assets across Canada, Australia, and New Zealand, has announced the successful completion of the first tranche of its recent capital raising. The company issued 190.375 million fully paid ordinary shares alongside 95.187 million unlisted options, raising approximately AUD 1.523 million before costs. This injection of capital is intended to support ongoing exploration and development activities across its portfolio.

The placement is part of a two-tranche strategy announced in mid-September 2025. While the first tranche has now settled, the second tranche remains pending, leaving some anticipation around the final capital structure and total funds raised.

Director Participation and Shareholder Approval

In addition to the shares issued to external investors, Critical Resources plans to issue 48.125 million shares with 24.062 million options to its directors, raising a further AUD 385,000 before costs. This issuance is subject to shareholder approval at an upcoming general meeting, a standard governance step that will be closely watched by investors for indications of board confidence and alignment with shareholder interests.

Project Portfolio and Resource Confidence

Critical Resources’ flagship Mavis Lake Lithium Project in Ontario, Canada, anchors its battery metals focus with a maiden inferred resource of 8 million tonnes at 1.07% lithium oxide. Complementing this is the Halls Peak Base Metals Project in New South Wales, Australia, which boasts a maiden inferred resource rich in zinc, lead, copper, silver, and gold. The company also holds gold-antimony projects in New Zealand’s Otago region, positioning it well within critical minerals supply chains amid rising demand.

The announcement reiterates that there has been no material change to the mineral resource estimates previously reported, maintaining investor confidence in the underlying asset base. These resources remain a key value driver as Critical Resources advances its exploration and potential development pathways.

Regulatory Compliance and Forward Outlook

Critical Resources confirmed full compliance with relevant provisions of the Corporations Act 2001, including disclosure obligations under section 708A. The company also affirmed that no excluded information exists that would require further disclosure, providing transparency to the market.

Looking ahead, the company’s focus will be on securing shareholder approval for the director share issuance and completing the second tranche of the placement. These steps will be critical in determining the company’s funding runway and capacity to accelerate exploration activities.

Bottom Line?

With the first tranche secured, all eyes turn to shareholder approval and the second tranche to unlock Critical Resources’ next growth phase.

Questions in the middle?

• When will the second tranche of the placement be completed, and what impact will it have on share dilution?
• How will the company allocate the new capital across its lithium and base metals projects?
• What are the implications of director participation for governance and investor confidence?