Trek Metals Raises $1M at 5.7c to Accelerate Manganese Exploration
Trek Metals has raised $1 million through a strategic placement to fast-track exploration at its Christmas Creek manganese project, with investor Andrew Reece committing $500,000 and joining the board.
- Placement raises $1 million at $0.057 per share
- Andrew Reece commits $500,000 and joins Trek Metals board
- Funds to support geophysical surveys and drill targeting
- Ground gravity survey underway; airborne EM survey imminent
- Major drilling program planned for early 2026
Strategic Capital Injection
Trek Metals Limited (ASX – TKM) has announced a $1 million capital raising through a share placement priced at 5.7 cents per share. The funds are earmarked to accelerate exploration activities at the company’s Christmas Creek Gold and Manganese Project in Western Australia’s Kimberley region. This move underscores Trek’s commitment to rapidly advancing its recently discovered high-grade manganese deposit.
Key Investor Joins Board
Queensland-based mining investor Andrew Reece has committed $500,000 as a cornerstone participant in the placement. Upon completion, Reece will join Trek’s board, bringing with him a strong track record in scaling high-growth businesses and strategic leadership. His appointment signals a new phase of governance and commercial insight for Trek as it seeks to leverage its manganese discovery.
Accelerated Exploration Program
The capital injection will fund a suite of exploration activities designed to delineate the extent and quality of the manganese mineralisation. Currently, a ground-based gravity survey is underway, complemented by an imminent airborne electromagnetic survey. These geophysical techniques aim to refine drill targets ahead of a major drilling campaign planned for early next year, weather permitting.
In addition to geophysical work, field teams have commenced detailed mapping and rock chip sampling around the high-grade outcrop, with assay results pending. The integration of geological, geochemical, and geophysical data will be critical in understanding the deposit’s potential and guiding future exploration efforts.
Market and Strategic Implications
The placement was conducted at a slight discount to the recent volume-weighted average price, reflecting a balanced approach to raising capital without excessive dilution. Trek’s leadership emphasizes that the discovery at Christmas Creek could be transformative for the company’s trajectory, potentially positioning it as a significant player in manganese supply; a metal increasingly important for battery technologies and steelmaking.
With Reece’s board appointment and the accelerated exploration timetable, Trek Metals is poised at a pivotal moment. The coming months will be critical as assay results and drilling outcomes begin to shape the company’s valuation and strategic direction.
Bottom Line?
Trek Metals’ $1 million raise and new board appointment set the stage for a defining exploration phase at Christmas Creek.
Questions in the middle?
- What will initial drilling results reveal about the size and grade of the manganese deposit?
- How will Andrew Reece’s strategic input influence Trek’s growth and capital strategy?
- Could the Christmas Creek discovery attract further investment or partnerships in the near term?
