Aureka Gives Shareholders Access to $0.12 Placement Price
Aureka Limited (ASX:AKA) has opened a share purchase plan targeting approximately $1.5 million at $0.12 per share, giving eligible Australian and New Zealand shareholders access to the same price as its recent placement. The funds are earmarked for production investment, working capital and exploration drilling.
- Up to approximately $1.5 million share purchase plan
- $0.12 issue price matches the $5.65 million placement
- Eligible holders can apply for up to $30,000
- Funds directed to Fiddlers Creek and Wedderburn operations
- Applications close on 24 September 2026
Shareholders Offered Placement Price
Aureka Limited (ASX:AKA) is offering eligible shareholders up to $30,000 worth of new shares at $0.12 each, matching the price paid by sophisticated, institutional and professional investors in the company’s recently announced $5.65 million placement.
The share purchase plan is targeting approximately $1.5 million and is open to holders registered in Australia or New Zealand at 7pm Melbourne time on 4 September 2026. The offer price represents a stated 3.5% discount to Aureka’s five-trading-day VWAP of $0.124 before the plan was announced.
Capital Raise Extends Funding Programme
Combined with the placement, the plan could take the broader equity raising to approximately $7.15 million, although the final amount remains uncertain. The placement itself is split into two tranches: $4.54 million is scheduled to be issued using existing placement capacity, while a further $1.11 million requires shareholder approval under ASX Listing Rule 7.1.
The plan is not underwritten. Aureka may accept oversubscriptions within ASX limits, or scale back applications if demand exceeds the available share capacity. It may also place any shortfall at the Board’s discretion, subject to listing rules and, where necessary, shareholder approval.
Funds Tied to Mine and Mill Investment
Aureka says the plan proceeds will support post-completion investment in production at Fiddlers Creek Mine and Wedderburn Mill, alongside working capital and near-mine and general exploration drilling. The filing does not provide a detailed split between those uses, leaving the eventual allocation to the Board.
Applications close at 5pm Melbourne time on 24 September 2026, with the company expecting to announce the result and issue the new shares by 28 September, subject to any timetable changes. The size of shareholder participation, any scale-back and the treatment of a potential shortfall will show how much of the proposed funding programme is ultimately secured from the wider register.
Bottom Line?
The key test now is whether shareholder demand adds the targeted $1.5 million without a material scale-back, while the second placement tranche still depends on approval.
Questions in the middle?
- How much of the $1.5 million target will shareholders seek, and will applications be scaled back?
- Will the second placement tranche receive shareholder approval at Aureka’s next general meeting?
- How will the eventual funds be divided between production, working capital and exploration drilling?
