Dalaroo Metals Raises A$1.75M to Accelerate Gold and Rare Earth Exploration in Côte d’Ivoire and Greenland

Capital Raise Targets High-Potential Gold and Rare Earth Projects

Dalaroo Metals (ASX:DAL) has locked in A$1.75 million through a strategic placement priced at A$0.075 per share, accompanied by free attaching options exercisable at A$0.10 over five years. The raise aims squarely at accelerating exploration at two of its flagship assets: the Bondoukou Gold Project in Côte d’Ivoire and the Blue Lagoon Rare Earth Project in Greenland. This injection comes amid growing investor confidence in Dalaroo’s ability to unlock value across its portfolio, as reflected by strong support from sophisticated and institutional investors.

The placement is structured in two tranches, with the first tranche of approximately A$1.43 million to non-related investors settled by mid-May and the second tranche of A$320,000 reserved for participating directors pending shareholder approval expected in late June. Directors Bilal Ahmad, Faheem Ahmed, and Tim Wither have committed to invest a combined A$320,000, signalling alignment with shareholder interests. The raise also includes 4 million lead manager options issued to 62 Capital Pty Ltd, which is orchestrating the placement.

Exploration Plans in Côte d’Ivoire Gain Momentum

At Bondoukou, Dalaroo is preparing for its maiden reverse circulation (RC) drilling campaign following encouraging early-stage reconnaissance work. Recent geological mapping has identified a structurally controlled gold system with high-grade rock chip assays reaching 17.95 g/t Au near an interpreted antiform hinge zone. This supports the company’s exploration model targeting both shallow oxide and primary mineralised zones within the Goldridge Prospect corridor.

The ongoing soil geochemistry program, which has already covered significant strike length, is refining drill targets ahead of the planned RC and auger drilling phases. This work builds on the company’s previous efforts to define a robust gold footprint in the Birimian Greenstone Belt, a prolific West African gold province. The Bondoukou project’s proximity, approximately 35 km, to Endeavour Mining’s Tanda deposit adds further strategic context to Dalaroo’s efforts. The company is also advancing systematic soil sampling and field mapping at its Bongouanou Project, another emerging gold district-scale opportunity in Côte d’Ivoire, aiming to validate historical data and generate drill-ready targets. These developments follow earlier updates on the company’s soil geochemistry program progress and Gold Ridge soil sampling completion.

Greenland’s Blue Lagoon Project Advances with Sediment Sampling

On the rare earth front, Dalaroo’s Blue Lagoon Project in south-west Greenland continues to reveal promising signs of sediment-hosted mineralisation. Recent surface sampling has returned total rare earth oxide (TREO) values up to 0.81% and zirconium oxide concentrations reaching 4.42%, underscoring the scale and fertility of the mineralised system. The next phase of exploration will focus on offshore sediment sampling and deeper auger drilling to better understand basin-scale sediment accumulation and potential zones of higher-grade concentration.

Additional work includes ground penetrating radar (GPR) surveys to delineate sediment thickness and basin geometry, alongside petrological, mineralogical, and metallurgical studies aimed at characterising mineral hosts and improving recovery pathways. These technical advances build on the company’s recent zirconium discovery and Greenland exploration management, reinforcing Blue Lagoon’s potential as a critical minerals hub amid global supply chain concerns.

Placement Pricing and Shareholder Considerations

The placement price of A$0.075 per share represents an 11.76% discount to Dalaroo’s last closing price but sits variably against volume-weighted average prices over recent trading periods, reflecting market dynamics. Shareholder approval will be sought for the director participation tranche at a general meeting slated for 25 June 2026. All placement shares will rank equally with existing ordinary shares, preserving investor equity structure.

This capital raise positions Dalaroo to systematically advance exploration, with funds earmarked not only for drilling and sampling but also for ongoing project evaluation and working capital. The company’s strategy to combine gold and critical minerals projects across jurisdictions aligns with broader market interest in diversified resource portfolios.