Infinity Mining Raises A$1M at 20% Discount to Accelerate Key Projects
Infinity Mining has raised A$1 million through a discounted placement to accelerate exploration in Victoria and advance its innovative mineral extraction partnership at the Cangai Project.
- A$1 million placement at A$0.01 per share, a 20% discount
- Funds to support exploration at Tanjil Bren, Monkey Gully, and Walhalla South
- Advancement of proprietary Super Oxidiser technology partnership with Orivium Global
- Placement includes 100 million new shares with attaching options pending shareholder approval
- Proceeds also allocated to working capital and short-term debt repayment
Capital Raise to Accelerate Exploration and Technology
Infinity Mining Limited (ASX, IMI) has successfully secured firm commitments for a A$1 million placement, issuing 100 million new shares at a discounted price of A$0.01 per share. This capital injection comes at a pivotal time as the company seeks to fast-track its exploration activities across several Victorian gold projects and advance a promising partnership leveraging cutting-edge mineral extraction technology.
Targeted Exploration in Historic Goldfields
The funds raised will primarily support exploration programs at the Tanjil Bren, Monkey Gully, and Walhalla South projects within the historic Walhalla Woods Point goldfield. These sites have shown encouraging surface gold and antimony mineralisation, and the company plans to conduct detailed fieldwork to define drill targets. This focused approach aims to unlock new resource potential in regions with a rich mining heritage.
Innovative Partnership at the Cangai Project
Beyond exploration, Infinity Mining is advancing its collaboration with Orivium Global Pte Ltd to apply Orivium’s proprietary Super Oxidiser technology at the Cangai Project. This technology targets the recovery of critical metals from historical smelter slag and oxide dumps, offering a sustainable pathway to extract valuable resources. The partnership reflects Infinity’s strategic emphasis on integrating innovative solutions to enhance resource recovery and meet rising demand for critical metals.
Shareholder Engagement and Future Outlook
The placement includes an offer of attaching listed options to investors, subject to shareholder approval at an upcoming Extraordinary General Meeting. These options, exercisable at $0.02 and expiring in 2028, provide additional upside potential for investors. Chairman Cameron Petricevic expressed optimism about the strong support from existing and new shareholders, highlighting the capital raise as a catalyst for growth and value creation.
Strategic Positioning Amid Market Dynamics
Infinity Mining’s diversified portfolio, spanning over 3,700 square kilometres across key Australian geological regions, positions it well to capitalize on both near-term development opportunities and longer-term exploration upside. The company’s focus on sustainable extraction technologies and critical metals aligns with broader market trends emphasizing responsible resource development and supply chain security.
Bottom Line?
Infinity Mining’s fresh capital and tech partnership set the stage for a transformative phase; watch closely as exploration results and shareholder approvals unfold.
Questions in the middle?
- How will the upcoming shareholder vote impact the issuance of attaching options and overall capital structure?
- What are the expected timelines and milestones for the Super Oxidiser technology deployment at Cangai?
- Can exploration at the Victorian goldfields deliver significant new drill targets to justify further development?
