Auravelle Metals Secures A$2.5M to Accelerate Gold Drilling in SA and WA
Auravelle Metals has completed a well-supported $2.5 million placement to fund extensive gold exploration programs across South Australia and Western Australia, setting the stage for a busy drilling season into 2026.
- Placement raised A$2.5 million through 156.25 million new shares at 1.6 cents each
- Strong backing from existing major shareholders and new institutional investors
- Directors to participate in the raising, pending shareholder approval
- Funds earmarked for multiple drilling campaigns at Sheoak, Nuckulla Hill, Crown, and Skye projects
- Extraordinary general meeting scheduled for January 2026 to approve further share issues and options
Capital Raising Success
Auravelle Metals Limited (ASX, AUV) has successfully completed a placement raising A$2.5 million through the issue of 156.25 million new shares priced at 1.6 cents each. The capital raising attracted strong support not only from existing major shareholders but also from new institutional investors, signaling confidence in the company’s exploration strategy and recent results.
The placement was managed by Foster Stockbroking and Baker Young, with bids exceeding the targeted amount, underscoring robust market interest. Notably, all Auravelle directors have committed to participate in the raising, subject to shareholder approval, which will be sought at an extraordinary general meeting scheduled for early January 2026.
Funding Exploration Ambitions
The funds raised will primarily support Auravelle’s ongoing and planned gold exploration activities across key projects in South Australia and Western Australia. These include reverse circulation (RC) drilling at Sheoak and East Sheoak within the Nuckulla Hill project, additional aircore drilling at Nuckulla Hill and Crown, and further aircore drilling at the Skye project.
Managing Director Andrew Muir highlighted the company’s momentum, noting that the fourth drilling program for 2025 is set to commence shortly. He expressed optimism about extending high-grade mineralisation at Sheoak and anticipated upcoming results from the Crown aircore program and a large soils geochemistry survey in South Australia.
Capital Structure and Next Steps
Post-raising, Auravelle’s capital structure will expand to over 812 million securities, including fully paid ordinary shares and options. The placement shares will be issued under the company’s existing placement capacity, while the issuance of shares to directors and certain institutional investors, along with lead manager options, awaits shareholder approval.
The company plans to maintain a high level of exploration activity into 2026, targeting multiple high-impact gold prospects. This aggressive exploration pipeline aims to build on recent successes and enhance Auravelle’s position in the competitive gold exploration sector.
Bottom Line?
Auravelle’s well-supported capital raise sets a strong foundation for a pivotal exploration phase that could reshape its asset potential.
Questions in the middle?
- Will shareholder approval for director and institutional investor shares proceed smoothly in January?
- How will upcoming drilling results at Sheoak and Crown influence Auravelle’s valuation and investor sentiment?
- What are the company’s plans if exploration results fall short of expectations?
