RareX Limited has successfully raised A$5 million through a share placement, bolstering its exploration and development efforts across key rare earth and critical mineral projects.
- A$5 million raised via share placement at A$0.0275 per share
- Funds to support drilling at Khaleesi and development at Cummins Range
- Mining lease granted for Cummins Range project
- Strong investor demand exceeding available shares
- Attaching options subject to upcoming shareholder approval
RareX Raises Capital to Drive Growth
RareX Limited (ASX – REE) has announced a successful capital raise of A$5 million through a share placement to institutional, sophisticated, and professional investors. The placement, priced at A$0.0275 per share, will see approximately 181.8 million new shares issued, accompanied by free-attaching options exercisable at A$0.045, pending shareholder approval. This funding round reflects strong market confidence, with demand significantly exceeding the shares on offer.
Strategic Focus on Rare Earth and Critical Minerals
The fresh capital will primarily support RareX’s exploration drilling at the Khaleesi project, targeting niobium and rare earth mineralised carbonatite deposits, alongside broad gallium mineralisation. Additionally, the funds will advance the Cummins Range project, which recently secured a mining lease, enabling the company to focus on metallurgical studies and update feasibility assessments. RareX is also continuing its involvement in the Mrima Hill carbonatite proposal in partnership with Iluka Resources, aiming to further develop this promising asset.
Investor Confidence and Market Positioning
CEO and Managing Director James Durrant highlighted that the placement positions RareX at a pivotal moment. With Cummins Range moving into development and drilling commencing at Khaleesi, the company is advancing multiple fronts simultaneously. The placement price represents a 16.7% discount to the recent volume-weighted average price but a 25% premium to the previous capital raise in July 2025, underscoring growing investor confidence in RareX’s strategy and asset portfolio.
Looking Ahead
Settlement of the placement is expected by early February 2026, with the issuance of new shares shortly thereafter. The attaching options will be subject to shareholder approval at an extraordinary general meeting planned for late Q1 or early Q2. As RareX continues to develop its portfolio of carbonatite-related projects, including the newly acquired Piper Project, the company is well-positioned to capitalise on the growing demand for critical minerals essential to emerging technologies and clean energy solutions.
Bottom Line?
RareX’s latest capital raise sets the stage for accelerated development, but upcoming exploration results and shareholder votes will be key to sustaining momentum.
Questions in the middle?
- Will the attaching options receive shareholder approval at the upcoming EGM?
- What are the expected timelines and milestones for drilling results at Khaleesi?
- How will the recent mining lease grant impact the pace of development at Cummins Range?