Loyal Metals has raised $3.5 million in a well-supported placement, extending its funding to $8.2 million to accelerate drilling and advanced exploration at the Highway Reward Copper-Gold Mine.
- Raised $3.5 million via targeted placement at $0.34 per share
- Strong backing from existing shareholders and new investors
- Total available funding now $8.2 million for exploration
- Focus on advanced geophysics, AI targeting, and 3D modelling
- Initial drilling intersected 132.5m of massive sulphides near surface
Capital Raise Signals Confidence in Highway Reward
Loyal Metals Ltd (ASX – LLM) has successfully secured $3.5 million through a targeted placement, demonstrating strong investor confidence in its exploration strategy and recent acquisition of the Highway Reward Copper-Gold Mine. The placement, priced at $0.34 per share, a modest 11% discount to recent trading, was well supported by both existing shareholders and a select group of new investors, underscoring market belief in the company’s potential.
Funding to Accelerate Next-Generation Exploration
With total available funding now at $8.2 million, Loyal Metals is positioned to fast-track its exploration program. The company plans to leverage cutting-edge technologies including advanced geophysics, 3D geological modelling, and AI-driven drill targeting to unlock the unmined resource potential at Highway Reward. This approach aims to refine drill targets and improve the efficiency of resource delineation, a critical step in advancing the project’s value.
Promising Early Drilling Results
Initial drilling has already yielded encouraging results, with the first hole in over two decades intersecting 132.5 metres of massive sulphides starting approximately 100 metres below surface and close to the eastern wall of the open pit. This intersection includes notable copper sulphides and a near-surface zone rich in sphalerite, barite, and galena, suggesting multiple mineralised zones. While assay results confirming copper and gold grades are pending, the presence of chalcopyrite and pyritic systems hints at significant mineralisation.
Strategic Use of Funds and Forward Outlook
The proceeds from the placement will primarily support accelerated exploration activities, including more substantive drilling campaigns both at depth and along strike of the Highway Reward property. Additionally, the funds will cover general working capital needs. Managing Director Adam Ritchie highlighted the company’s confidence in the project’s upside, noting the strong market endorsement of their data-driven exploration strategy and the potential for further discoveries.
Positioning for Growth in Copper-Gold Exploration
Loyal Metals’ approach combines traditional exploration with innovative technologies, aiming to unlock value in a Tier 1 mining jurisdiction. The company’s ability to raise capital efficiently and attract quality investors reflects a positive market sentiment towards copper-gold projects amid ongoing demand for these metals. As drilling progresses and assay results emerge, Loyal Metals could be poised to significantly enhance its resource base and shareholder value.
Bottom Line?
With fresh capital and advanced tech, Loyal Metals is set to deepen its Highway Reward exploration in 2026.
Questions in the middle?
- What will the upcoming assay results reveal about copper and gold grades?
- How effectively will AI-driven targeting improve drilling success rates?
- Could further drilling confirm a substantial resource upgrade at Highway Reward?