How Will Pivotal Metals’ $5.4M Raise Accelerate Quebec Copper-Gold Drilling?

Funding Boost for Quebec Exploration

Pivotal Metals Limited has successfully secured $5.4 million in funding to accelerate its exploration activities at the Belleterre copper-gold project in Quebec, Canada. The capital raise, comprising an institutional placement and a Canadian flow-through share placement, reflects strong investor confidence in the company’s high-quality portfolio. Notably, Australian resources investor Matthew Latimore has committed to becoming a substantial shareholder, underscoring the strategic appeal of Pivotal’s assets.

Targeting High-Grade Mineralisation

The funds will primarily support drilling programs scheduled to commence in December 2025, focusing on priority targets such as the recently delineated Alotta conductor. This target lies beneath previously identified high-grade copper and nickel mineralisation, with historic drill results including intervals like 24.2 metres at 2.3% copper and 1.2% nickel. Additionally, exploration will advance at the Lorraine gold target, where underground sampling has revealed bonanza-grade gold mineralisation, including a remarkable 28 metres at 45 grams per tonne.

Expanding the Resource Base

Beyond Belleterre, Pivotal plans to continue developing its Horden Lake project, which boasts a recently updated mineral resource estimate of 37 million tonnes at 1.1% copper equivalent. This resource includes copper, nickel, palladium, and gold, positioning Horden Lake as a significant asset in the company’s portfolio. The funding will also support systematic target generation and geophysical surveys to expand the exploration pipeline.

Strong Institutional Support

The placement was led by Powerhouse Advisory Australia Pty Ltd, whose funds management division also participated as a cornerstone investor. The institutional placement shares were offered at a 16.9% discount to the recent volume-weighted average price, while the flow-through shares were issued at a premium, reflecting the tax incentives available to Canadian investors. This dual-structure raise balances capital efficiency with shareholder dilution considerations.

Looking Ahead

With a fully funded exploration program, Pivotal Metals is well positioned to unlock the potential of its Quebec projects. The upcoming drilling campaigns at Belleterre and ongoing development at Horden Lake could provide significant value catalysts for the company, particularly if high-grade mineralisation is confirmed at depth. Investors will be watching closely as assay results emerge in the coming months.