Antares Issues 128M Shares at $0.008 in First Tranche of $2M Raise
Antares Metals has completed the first tranche of a $2 million capital raise, issuing over 128 million shares to support new project acquisitions and ongoing exploration activities.
- First tranche placement raised approximately A$1.03 million
- 128.7 million shares issued at A$0.008 per share
- Second tranche and director shares pending shareholder approval
- Funds earmarked for exploration at Quinns, Katanning, and Mt Isa North projects
- Joint Lead Managers Discovery Capital Partners and Cumulus Wealth facilitated the placement
Capital Raise Completion
Antares Metals Limited (ASX, AM5) has successfully completed the initial phase of its two-tranche placement, securing approximately A$1.03 million through the issuance of 128.7 million new shares priced at A$0.008 each. This milestone marks a significant step in the company’s strategy to bolster its exploration portfolio and advance recent acquisitions.
Pending Shareholder Approval for Second Tranche
The remaining tranche, comprising roughly 121.3 million shares plus an additional 3.75 million shares allocated to company directors, awaits shareholder approval scheduled for mid-January 2026. This tranche also includes one-for-two free attaching options, which could provide further upside potential for investors if exercised.
Strategic Use of Funds
Proceeds from the placement will be directed towards initial exploration and assessment activities following the recent acquisitions of the Quinns Gold & Copper-Zinc VMS Project and the Katanning Gold Project. This includes data compilation, target generation, and planning for first-pass drilling programs. Additionally, Antares plans to continue field mapping, geochemical and geophysical surveys, and follow-up drilling to define copper and uranium targets at its Mt Isa North Project.
Corporate and Transactional Support
Beyond exploration, the funds will also cover general administration, corporate expenses, and transaction costs related to the acquisitions and capital raising process. The placement was managed jointly by Discovery Capital Partners Pty Ltd and Cumulus Wealth Pty Ltd, underscoring the company’s commitment to securing strong financial and advisory support as it advances its growth agenda.
Looking Ahead
With the first tranche complete and shareholder approval pending for the second, Antares Metals is positioning itself to accelerate exploration efforts across multiple promising projects. The market will be watching closely for the outcome of the upcoming shareholder meeting and the company’s ability to translate this capital into tangible resource development.
Bottom Line?
Antares Metals’ capital raise sets the stage for a pivotal exploration phase, with shareholder approval the next key hurdle.
Questions in the middle?
- Will shareholders approve the second tranche and director share issuance in January?
- How quickly can Antares translate exploration data into drilling results at its new projects?
- What impact will the free attaching options have on future capital structure and investor returns?
