Pure Resources Limited has bolstered its financial position with a $1.7 million placement and confirmed the presence of premium large to jumbo flake graphite at its Garnet Hills Project, setting the stage for downstream development in the US market.
- Raised $1.7 million via share placement to fund Garnet Hills advancement
- Confirmed large to jumbo flake graphite with clean mineralogy at Garnet Hills
- Completed priority and shortfall option offers to former option holders
- Progressed US-focused downstream strategy targeting thermal and defence sectors
- Exited La Forge Project in Quebec to prioritise core assets
Financial Strengthening and Capital Raising
During the December 2025 quarter, Pure Resources Limited successfully raised $1.7 million through a placement of ordinary shares priced at 15 cents each. This capital injection not only strengthens the company's balance sheet but also provides essential funding to advance exploration and development activities at its flagship Garnet Hills Project in Western Australia's Kimberley region. The placement was well supported and included free-attaching options subject to shareholder approval, reflecting investor confidence in Pure's strategic direction.
Technical Validation of Garnet Hills Graphite
Detailed petrographic and mineralogical analyses confirmed the presence of large to jumbo flake graphite at Garnet Hills, with average flake sizes around 200 micrometres and some exceeding 300 micrometres. The graphite flakes are notably clean and free from mineral inclusions, which bodes well for beneficiation and supports premium pricing. This quality positions Garnet Hills graphite as a high-value product suitable for battery anode materials and advanced industrial applications, underpinning Pure's ambitions in the critical minerals sector.
Strategic US Downstream Engagement
Pure is actively progressing a downstream and technology strategy focused on the United States, aligning with sectors such as thermal management, data-centre cooling, and defence applications. The graphite's favourable characteristics enhance its suitability for these high-tech uses, and the company is engaging with Department of Energy-linked institutions to explore collaborative opportunities. This dual critical-minerals approach, combining garnet and graphite, could unlock significant value and market differentiation.
Corporate Actions and Portfolio Rationalisation
Alongside the capital raising, Pure completed a Priority Offer and Shortfall Offer to former holders of expired options, issuing over 36 million new options exercisable at 25 cents. The company also issued 500,000 shares to a former director, reflecting ongoing governance and shareholder alignment. Notably, Pure chose not to renew its La Forge lithium project claims in Quebec, signalling a strategic focus on its core Australian assets and downstream initiatives.
Outlook and Upcoming Activities
Looking ahead to the March 2026 quarter, Pure plans to advance follow-up drilling and metallurgical studies at Garnet Hills, continue US downstream engagement, and seek shareholder approval for the placement options. With a cash position of $1.58 million and no debt, the company appears well positioned to execute its near-term objectives and further define the value of its premium graphite resource.
Bottom Line?
Pure Resources is setting a clear course toward development and downstream integration, but upcoming shareholder approvals and exploration results will be critical to sustaining momentum.
Questions in the middle?
- How will shareholder approval of the placement options impact Pure's capital structure?
- What are the timelines and expected outcomes for the planned drilling and metallurgical studies at Garnet Hills?
- How will Pure's US downstream partnerships evolve amid growing demand for advanced graphite applications?