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29Metals Limited (ASX:29M)

ALERT: Price-sensitive ASX Announcement for 29M
Current share price for 29M : $0.238 -0.243 (-50.52%)+
Announcement
Release
28 Jan 2026 8:22AM
Price at Release
$0.480
Full Release
download
Summary
29Metals Limited has announced the opening of its Retail Entitlement Offer, a component of its fully underwritten, 1 for 3.66 accelerated non-renounceable entitlement offer aimed at raising $150 million. The Retail Entitlement Offer, which opens on 28 January 2026 and closes on 11 February 2026, is expected to raise approximately $31 million. Eligible retail shareholders in Australia and New Zealand are invited to participate at an offer price of $0.40 per new share, the same as offered to institutional shareholders. The proceeds will be used to support 29Metals' strategic growth objectives, including ongoing investment and feasibility studies at its key projects. Shareholders who do not participate will have their equity diluted. The offer details are part of a larger effort to facilitate growth and maintain commitments despite operational challenges.
Key Points
  • Retail Entitlement Offer opens on 28 January 2026.
  • Offer price is $0.40 per new share.
  • Approximately $31 million expected to be raised from retail offer.
  • The offer is part of a larger $150 million equity raising effort.
  • Eligible shareholders are in Australia and New Zealand.
  • Non-participating shareholders will experience equity dilution.
  • Funds to support strategic growth and ongoing projects.
  • Offer closes on 11 February 2026.
  • Proceeds to aid in feasibility studies and investment in key projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.