Avira Secures $2.5M Funding and Mt Cattlin Gold Project Acquisition Agreement
Avira Resources has secured a binding agreement to acquire the high-grade Mt Cattlin Gold Project and raised $2.5 million in firm commitments, positioning itself for significant exploration activity in Western Australia and Sweden.
- Binding agreement to acquire Mt Cattlin Gold Project with historic high-grade gold production
- Firm commitments received for $2.5 million capital raising, partly completed
- Technical reviews identify multiple targets at Tangadee Project in WA
- Significant high-grade gold and nickel mineralisation confirmed at Puolalaki Project, Sweden
- Appointment of experienced Consulting COO Andrew van Bentum
Strategic Acquisition of Mt Cattlin Gold Project
Avira Resources Limited (ASX – AVW) has taken a decisive step forward by entering into a binding agreement to acquire the mineral rights for the Mt Cattlin Gold Project in Western Australia’s Ravensthorpe Greenstone Belt. This project boasts a historical production record of 23,006 tonnes at an impressive 24.56 grams per tonne of gold, underscoring its significant gold endowment. Situated adjacent to Rio Tinto’s Mt Cattlin Lithium Mine, the project offers district-scale potential validated by nearby world-class operations.
The acquisition is subject to shareholder approval at Avira’s upcoming annual general meeting on 27 November 2025, marking a critical milestone for the company’s growth ambitions.
Capital Raising to Fuel Exploration and Development
Complementing the acquisition, Avira has secured firm commitments for a $2.5 million capital raising through the issuance of 250 million shares at one cent each. The initial tranche of $345,000 has already been completed, with the balance contingent on shareholder approval at the AGM. This capital injection is expected to underpin ongoing exploration activities and operational advancement across Avira’s portfolio.
Exploration Progress at Tangadee and Puolalaki Projects
Avira’s exploration efforts continue to gain momentum. At the Tangadee Project in Western Australia’s Ashburton region, technical and field reviews have identified three compelling target areas within granted exploration licences. These targets, defined by late-time electromagnetic conductors, are poised for drill testing to evaluate potential copper-zinc and copper-nickel sulphide mineralisation.
Meanwhile, in Sweden, the Puolalaki Project has revealed significant high-grade gold and nickel mineralisation. Recent drilling intersected notable gold grades, including 9.57 meters at 3.82 grams per tonne and 2.75 meters at 14.16 grams per tonne. The project’s geological setting and mineralisation style suggest a robust mineralising system with open potential at depth and along strike.
Leadership Strengthened with New COO Appointment
To support its expanding operations, Avira appointed Andrew van Bentum as Consulting Chief Operating Officer. With over 25 years of experience in mineral exploration and resource development, including senior roles at IGO Limited and Western Areas Limited, van Bentum brings valuable expertise to guide Avira’s strategic and operational initiatives.
Financial Position and Outlook
During the quarter, Avira reported exploration expenditure of $30,000 and no substantive mining production. The company ended the period with $223,000 in cash, with funding visibility enhanced by the capital raising. Management expects to maintain current operating cash flows and advance exploration programs pending shareholder approvals.
Bottom Line?
Avira’s upcoming AGM will be pivotal in unlocking the full potential of its Mt Cattlin acquisition and capital raise, setting the stage for a transformative phase of exploration and growth.
Questions in the middle?
- Will shareholder approval be secured to complete the Mt Cattlin acquisition and capital raising?
- What are the timelines and expected outcomes for the planned drilling at Tangadee’s identified targets?
- How will the new COO influence Avira’s operational strategy and exploration priorities?
