Entitlement Offer Shortfall Leaves Altamin with Unplaced 52.9 Million Shares
Altamin Limited has locked in $753,000 through a share placement to cover part of its entitlement offer shortfall, attracting sophisticated investors from the UK and Australia.
- Placement of 30.12 million shares at $0.025 each raising $753,000
- Participants include UK and Australian sophisticated investors and a top 10 shareholder
- Placement addresses a portion of the entitlement offer shortfall
- Company reserves right to place remaining 52.89 million shortfall shares
- Settlement expected by 24 December 2025
Altamin’s Capital Raise Update
Altamin Limited (ASX, AZI), an Australian-listed miner focused on base and critical metals in Italy, has announced it secured firm commitments to raise $753,000 through a placement of 30.12 million fully paid ordinary shares priced at 2.5 cents each. This placement represents a portion of the shortfall from the entitlement offer the company launched in September 2025.
The placement attracted a mix of sophisticated and professional investors from both the UK and Australia, including former institutional fund managers and an existing top 10 shareholder of Altamin. This blend of investors signals continued confidence in Altamin’s strategic direction and its focus on commodities aligned with the European Union’s energy transition goals.
Context and Strategic Implications
The entitlement offer, initially announced in September and updated in October, aimed to raise capital to support Altamin’s ongoing exploration and development activities in Italy. The shortfall placement is a common mechanism to ensure the company secures the necessary funds despite some shareholders not fully participating in the entitlement offer.
Altamin’s projects are notable for their alignment with sustainable mining practices and minimal environmental impact, supported by local governments and stakeholders. The fresh capital injection will help maintain momentum in advancing these brownfield projects, which are critical to supplying metals essential for the EU’s energy transition.
Looking Ahead
The company retains the right to place the remaining 52.89 million shortfall shares, which could further bolster its balance sheet if fully subscribed. Settlement of the current firm commitments and any additional placements is expected to be completed by 24 December 2025, just ahead of the year-end.
Altamin’s management team, led by CEO Geraint Harris and Finance Director Stephen Hills, will likely focus on leveraging this capital to advance project milestones and potentially attract further investment. The involvement of experienced investors may also provide strategic benefits beyond the immediate funding.
Bottom Line?
Altamin’s partial shortfall placement secures vital funding, but the full capital raise outcome remains to be seen.
Questions in the middle?
- Will Altamin successfully place the remaining 52.89 million shortfall shares before year-end?
- How will this capital raise impact Altamin’s project timelines and development plans in Italy?
- What influence might the new sophisticated investors have on the company’s strategic direction?
