Amara Minerals has completed a $2.2 million placement by issuing 440 million shares at a 25% premium, backed by a $500,000 cornerstone investment from Nova Minerals. The funds will fuel drilling at its Victorian gold-antimony projects and support broader exploration ambitions.
- Placement raises $2.2 million at $0.005 per share
- Shares issued at 25% premium to last trade price
- Nova Minerals invests $500,000 as cornerstone investor
- Attaching options and director participation subject to shareholder approval
- Funds earmarked for drilling and new opportunities
Placement Completion and Pricing Details
Amara Minerals Limited (ASX:AM3) has successfully closed its $2.2 million placement, issuing 440 million shares at 0.5 cents each, representing a 25% premium to the last traded price of 0.4 cents on 11 June 2026. This capital raise significantly strengthens the company’s cash position, providing fresh ammunition for its exploration programs.
The placement shares are set for official quotation on the ASX shortly after allotment, scheduled for 25 June 2026. Alongside the shares, 220 million attaching options exercisable at 0.8 cents and expiring in May 2029 will be offered, though these require shareholder approval before issuance.
Strategic Investment and Director Participation
Nova Minerals Limited (ASX/NASDAQ:NVA) has taken a $500,000 stake as the cornerstone investor, acquiring 100 million shares in the placement. This move deepens Nova’s exposure to Amara’s Victorian gold and antimony assets, underscoring confidence in the company’s exploration potential.
Amara’s board members are also backing the raise, with Chairman Mena Habib and Managing Director Ian Holland committing $75,000 and $25,000 respectively, subject to shareholder approval. Their participation signals alignment with shareholder interests and belief in the company’s growth trajectory.
Correction on Lead Manager and Use of Funds
The company clarified a previous announcement error, confirming Barclay Wells Limited as the sole lead manager for the placement, replacing the incorrectly named Barclay Pearce Capital. This correction does not affect the terms or progress of the capital raise.
Funds raised will be directed towards ongoing diamond drilling campaigns at the Lauriston and Apollo Gold and Antimony Projects in Victoria, along with assessing new exploration opportunities and general corporate activities. These projects have demonstrated promising high-grade gold and antimony mineralisation, including standout intercepts like 8 metres at 104 g/t gold at Lauriston.
Exploration Assets and Growth Prospects
Amara’s Lauriston Project, adjacent to the prolific Fosterville Mine, offers compelling upside with its high-grade Comet discovery and structural similarities to the Swan Zone. The Apollo Project complements this with bulk-tonnage gold potential and antimony mineralisation akin to nearby Costerfield and Sunday Creek deposits.
Beyond Victoria, Amara holds lithium exploration tenements in Brazil’s lithium valley and Borborema region, positioning the company to tap into the global energy transition. Early exploration has already identified lithium pegmatite targets, adding a strategic dimension to Amara’s portfolio.
This capital raise and strategic backing come at a pivotal time as Amara advances drilling and targets further resource definition, setting the stage for potential value uplift pending exploration success.
Bottom Line?
Amara’s capital injection at a premium price, anchored by Nova Minerals, provides a solid runway for advancing high-potential gold-antimony projects and lithium exploration, though shareholder approval on options and director participation remains a key next step.
Questions in the middle?
- Will shareholder approval for attaching options and director shares proceed smoothly?
- How will drilling results from Lauriston and Apollo influence Amara’s valuation in the near term?
- What new opportunities might Amara pursue with the additional capital beyond current projects?