Eagle Mountain Mining has initiated a non-renounceable entitlement offer to raise nearly $2 million, aiming to accelerate exploration at its Silver Mountain Project in Arizona. The offer includes attaching options and targets eligible shareholders across select countries.
- Non-renounceable entitlement offer to raise up to $1.98 million
- Issue price set at $0.009 per new share with attaching options
- Proceeds primarily allocated to Silver Mountain Project exploration
- Offer open to shareholders in Australia, New Zealand, Malaysia, Singapore, and the UK
- Offer managed by Prenzler Group and Alto Capital, not underwritten
Capital Raising Initiative
Eagle Mountain Mining Limited (ASX – EM2), a copper-gold explorer focused on projects in Arizona, USA, has announced a non-renounceable entitlement offer to raise approximately $1.98 million. The offer invites eligible shareholders to subscribe for new shares at a price of $0.009 each, with an entitlement ratio of one new share for every six shares held as of the record date, 26 November 2025.
Alongside the new shares, the company is issuing attaching options exercisable at $0.02 each until 30 November 2028, providing shareholders with potential upside if the company’s exploration efforts prove successful. The offer is being managed by joint lead managers Prenzler Group Pty Ltd and Alto Capital, though it is not underwritten, introducing some subscription risk.
Strategic Use of Funds
The proceeds from this capital raising will be primarily directed towards advancing exploration activities at Eagle Mountain’s Silver Mountain Project. Located in Arizona, a region renowned for significant copper discoveries, Silver Mountain represents a strategic asset for the company’s growth ambitions. Additional funds will support business development initiatives, new commercial opportunities, and general working capital needs.
With cash reserves reported at just $0.56 million as of 30 September 2025, this raise is timely to sustain ongoing operations and exploration momentum. The company’s focus on the Silver Mountain Project aligns with broader market interest in copper-gold assets amid rising demand for battery metals and industrial minerals.
Offer Details and Shareholder Eligibility
The entitlement offer is available to shareholders registered in Australia, New Zealand, Malaysia, Singapore, and the United Kingdom. Shareholders outside these jurisdictions are deemed ineligible due to regulatory and cost considerations, a common practice to streamline compliance. Eligible shareholders who fully subscribe to their entitlement may apply for additional shares through a shortfall offer, subject to scaling at the company’s discretion.
The offer opened on 1 December 2025 and closes on 17 December 2025, with new shares expected to commence trading on the ASX by 24 December 2025. Shareholders have been provided with detailed prospectus documents and personalised acceptance forms, with options to participate online or via paper application.
Outlook and Market Implications
This capital raise marks a critical juncture for Eagle Mountain Mining as it seeks to unlock value from its Arizona projects. While the offer is not underwritten, the company’s ability to attract sufficient shareholder participation will be closely watched. Successful funding will enable the company to accelerate exploration and potentially enhance its asset valuation, but dilution risks remain a consideration for existing shareholders.
Investors will be keen to monitor subsequent exploration results and any updates on business development efforts that could drive the company’s next phase of growth.
Bottom Line?
Eagle Mountain’s $1.98 million raise sets the stage for intensified exploration, but subscription outcomes will shape its near-term trajectory.
Questions in the middle?
- Will Eagle Mountain secure full subscription given the offer is not underwritten?
- How will exploration results at Silver Mountain influence the company’s valuation?
- What are the potential impacts of dilution on existing shareholders if the shortfall offer is heavily allocated?