Latest Comet Ridge (ASX:COI) News

Carnaby led the market after Evolution Mining agreed to a A$213 million takeover. Coal and lithium names fell despite major production and funding news.
Across materials, investors rewarded deals and cash flow, but punished large capital needs and weak price follow-through.

Comet Ridge has raised $40 million through a placement and $875,750 via a share purchase plan to fund the acquisition of Santos’ remaining stake in the Mahalo Gas Project and progress development activities.

Comet Ridge has completed a $40.9 million capital raise combining a Share Purchase Plan and a two-tranche placement to fund full acquisition and development of its Mahalo Gas Project.

Comet Ridge Limited has pushed back the closing date for its Share Purchase Plan and associated Options Offers to 24 July 2026, giving eligible shareholders more time to participate ahead of a key August meeting.

A handful of small-cap names posted big weekly swings, but the bigger story was a flood of new studies, resource upgrades and funding deals across gold, rare earths and battery materials. Investors chased scale and near-term production, while several raisings and gap-down reopenings showed how quickly early enthusiasm can fade.

Comet Ridge has locked in $40 million through a two-tranche placement and plans a $5 million share purchase plan to fund full ownership and development of its Mahalo Gas Project.

Comet Ridge has revised its acquisition deal for Santos’ stake in the Mahalo Gas Project, cutting upfront cash and extending deadlines to navigate new government gas reservation policy uncertainty.

Comet Ridge has voluntarily suspended trading of its shares on the ASX pending an update on its acquisition of Santos’ stake in the Mahalo Gas Project. The suspension aims to prevent uninformed trading while discussions continue, with an announcement expected before markets reopen on 21 May 2026.

Comet Ridge progresses engineering design and environmental approvals for its Mahalo Gas Project, pushing ahead with the acquisition of Santos’ stake to consolidate full ownership and expand its east coast gas footprint.

Comet Ridge is set to consolidate 100% ownership of the Mahalo Gas Project, securing key environmental approvals and advancing engineering design and funding efforts to boost east coast gas supply.

Comet Ridge Limited has obtained federal environmental approval for its Mahalo North natural gas project, paving the way for expanded development in Queensland’s Bowen Basin. This milestone complements recent ownership consolidation and state approvals, positioning the company to boost east coast gas supply.

Comet Ridge Limited is set to acquire Santos’s 42.86% stake in the Mahalo Gas Project, consolidating full ownership and operator status. This move significantly increases the company’s gas reserves and positions it to better serve the east coast domestic gas market.