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Alma Metals Limited (ASX:ALM)

ALERT: Price-sensitive ASX Announcement for ALM
Current share price for ALM : $0.012 0 (0%)+
Announcement
Release
6 May 2026 9:56AM
Price at Release
$0.012
Full Release
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Summary
Alma Metals Limited announced the successful raising of $4 million through an oversubscribed share placement, which was well-received by institutional and sophisticated investors. The funds will be used to advance the Briggs Copper Project in Queensland, Australia, focusing on drilling and resource conversion to support a Pre-Feasibility Study. The placement consists of two tranches, with Tranche 1 shares issued under existing ASX Listing Rules, while Tranche 2 requires shareholder approval as it involves director participation. The Briggs project holds significant potential for resource expansion and benefits from its strategic location with excellent infrastructure access.
Key Points
  • Alma Metals Limited successfully raised $4 million through an oversubscribed share placement.
  • Funds will be used primarily for drilling at the Briggs Copper Project and converting resources to support the Pre-Feasibility Study.
  • The share placement was structured in two tranches, with Tranche 1 shares issued under existing ASX Listing Rules 7.1 and 7.1A.
  • Tranche 2 shares require shareholder approval and are for director participation in the placement.
  • The Briggs Copper Project is located in Queensland, Australia, and has significant potential for resource expansion.
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.