Western Yilgarn Raises $698,000 via 17.45M Shares Placement at 4 Cents

Capital Raise to Accelerate Exploration

Western Yilgarn Limited (ASX – WYX) has successfully secured binding commitments from sophisticated and professional investors to raise $698,000 before costs through a placement of 17.45 million fully paid ordinary shares priced at 4 cents each. This capital injection is complemented by free attaching options, offering investors additional upside potential tied to the company’s ongoing development efforts.

The placement leverages Western Yilgarn’s existing capacity under ASX Listing Rules, with settlement anticipated on 10 October 2025. The company’s board has authorised the announcement, signalling confidence in the strategic direction and the projects’ potential.

Advancing Flagship Bauxite-Gallium Projects

The funds raised will primarily support exploration and metallurgical testwork programs across Western Yilgarn’s flagship assets – the Julimar West Project, Cardea 2 and 3 Projects, and the New Norcia Bauxite-Gallium Project. These activities are critical steps toward unlocking the value of the company’s substantial bauxite resources and advancing scoping studies that could pave the way for future development.

At Julimar West, the company plans to deepen its understanding of the deposit through further testwork and exploration, alongside initiating a scoping study. Importantly, ongoing negotiations with landowners aim to secure access rights, a vital component for uninterrupted project progress.

Robust Resource Base Underpins Growth

Western Yilgarn’s recent resource updates reinforce the scale and quality of its bauxite assets. The Julimar West Project alone boasts an inferred mineral resource estimate of approximately 168 million tonnes grading 36.1% alumina. Cardea 2 and 3 collectively add nearly 37 million tonnes, with Cardea 3 featuring a high-grade subset. Meanwhile, the New Norcia Project contributes a maiden inferred resource of over 39 million tonnes.

These figures culminate in a global inferred resource exceeding 205 million tonnes at an average alumina grade of 34.1%, positioning Western Yilgarn as a significant player in the bauxite sector. The company also highlights available alumina and reactive silica grades, key metrics for assessing ore quality and processing potential.

Strategic Implications and Outlook

This capital raise and resource confirmation come at a time when demand for bauxite and associated minerals like gallium is underpinned by global trends toward sustainable materials and green technologies. Western Yilgarn’s focus on metallurgical testwork and scoping studies suggests a methodical approach to advancing these projects toward potential production.

However, the timeline for exploration milestones and the outcome of land access negotiations remain critical variables. Investors will be watching closely for updates that could influence project viability and valuation.