Amara Minerals has raised $2.2 million through a placement priced 25% above its last trade, with cornerstone investor Nova Minerals increasing its holding by $500,000. The funds will accelerate drilling at Victorian gold-antimony projects following promising assay results.
- Placement raises $2.2 million at $0.005 per share
- Shares issued with free attaching options pending shareholder approval
- Nova Minerals ups stake with $500,000 cornerstone investment
- Directors to participate, signaling confidence in exploration
- Funds to support drilling at Lauriston and Apollo projects
Placement Priced at Premium Reflects Strong Demand
Amara Minerals (ASX:AM3) has successfully secured firm commitments for a $2.2 million placement at $0.005 per share, representing a 25% premium to its last traded price of $0.004. The placement also includes one free attaching listed option for every two shares subscribed, exercisable at $0.008 and expiring in 2029, subject to shareholder approval. The premium pricing underscores robust investor appetite amid growing interest in Amara’s Victorian gold and antimony projects.
Nova Minerals Increases Strategic Investment
Highlighting confidence in Amara’s exploration trajectory, Nova Minerals (ASX/NASDAQ: NVA) has boosted its stake with a $500,000 cornerstone investment, adding 100 million shares and 50 million options. This follows Nova’s initial $1 million investment in September 2025. Christopher Gerteisen, Nova’s CEO and Amara’s Non-Executive Director, praised the recent high-grade results at the Trojan Prospect, describing Lauriston as “shaping up as a genuine high-grade discovery.”
Board Participation Signals Confidence
Amara’s Chairman Mena Habib and Managing Director Ian Holland are also participating in the placement, committing $75,000 and $25,000 respectively. Their involvement, pending shareholder approval, reinforces management’s alignment with shareholders and belief in the company’s growth prospects. Holland emphasised the timing of the raise, coinciding with ongoing drilling at Trojan and the upcoming mobilization to Apollo.
Funds to Accelerate Drilling at Lauriston and Apollo
The proceeds will primarily fund the next phase of diamond drilling at the Lauriston and Apollo Gold and Antimony Projects, both of which have shown promising mineralisation. Recent assays from the Trojan Prospect include 6.5 metres at 0.86% antimony and 0.59 g/t gold from 142.6 metres depth, with higher-grade intervals within. The company views these results as indicative of an epizonal gold-antimony system similar in style to notable Victorian deposits like Fosterville and Costerfield, although it cautions these analogies are geological context rather than guarantees.
Supporting this exploration push, the Victorian Government has launched a $1 million Advancing Antimony Grants Program, and a regional airborne electromagnetic survey is underway to enhance geological understanding across central Victoria. These initiatives add momentum to Amara’s strategy in a jurisdiction increasingly recognised for antimony potential.
Placement Adviser Terms and Shareholder Approvals
Barclay Pearce Capital acted as sole lead adviser, earning a 6% fee and options equivalent to 22 million shares, also subject to shareholder approval. The free attaching options issued to placement participants and directors require approval at a forthcoming General Meeting, alongside approval for director participation under ASX rules.
Bottom Line?
The premium-priced placement and increased backing from Nova Minerals position Amara Minerals to advance its Victorian gold-antimony projects through aggressive drilling, with shareholder approvals the next hurdle.
Questions in the middle?
- Will shareholder approval for the attaching options and director participation be secured without delays?
- How will upcoming drilling results at Apollo and Lauriston influence Amara’s valuation and strategic partnerships?
- Could further government support or grants accelerate Amara’s exploration and development timeline?