Avenira Begins Rights Trading for Nearly $49 Million Capital Raise

Rights Trading Opens for $49 Million Renounceable Issue

Avenira Limited (ASX:AEV) has begun trading the rights for its renounceable rights issue under the ASX code AEVR, giving shareholders the option to either take up their entitlements or sell them on market until 3 September 2026. This move follows the company's announcement of a nearly $49 million capital raise designed to fund the transition of the Wonarah Phosphate Project from development to production.

The renounceable structure allows shareholders flexibility to fully participate, partially subscribe, or monetise their rights, providing a degree of liquidity and choice ahead of the offer's closing date. The capital raised is earmarked for mining fleet acquisition, infrastructure development, and advancing mine operations.

Wonarah Phosphate Project Poised for Pre-Strip Mining

Located in the Barkly region of the Northern Territory, the Wonarah Phosphate Project is one of Australia's largest high-grade phosphate deposits. Avenira aims to commence pre-strip mining activities in the fourth quarter of 2026, with the first direct shipping ore (DSO) shipment targeted for the first half of 2027.

The project benefits from strategic infrastructure, including proximity to the Barkly Highway, the Amadeus-Darwin gas pipeline, and the Darwin-Adelaide rail line, which support logistics and supply chain efficiency. The initial DSO operation is a straightforward open-cut mine producing high-grade phosphate rock for export to regional offtakers.

Looking beyond near-term production, Avenira plans to develop beneficiated phosphate ore operations by 2030, contingent on successful feasibility studies and board approval. Further downstream, the company proposes a feasibility study on yellow phosphorous production, a high-purity product with applications in battery and electronics sectors, to commence after beneficiation plant operations are fully established.

Ongoing Gold Exploration at Jundee South

Alongside phosphate development, Avenira continues to hold the Jundee South gold exploration project in Western Australia. Situated in the prolific Yandal Greenstone belt, the project covers more than 60 kilometres of prospective greenstone stratigraphy adjacent to established gold mines such as Jundee and Bronzewing.

Exploration efforts focus on major regional structures interpreted to control gold mineralisation, with historical gold occurrences identified within the project area. This diversified portfolio positions Avenira to leverage opportunities across both phosphate and gold sectors.