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Arrow Minerals Ltd (ASX:AMD)

ALERT: Price-sensitive ASX Announcement for AMD
Current share price for AMD : $0.004 -0.017 (-82.50%)+
Announcement
Release
28 Apr 2026 10:05AM
Price at Release
$0.020
Full Release
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Summary
Arrow Minerals Ltd announced a successful capital raising of $2.25 million through a Placement to fund the Yarraloola Copper Project. The company plans to acquire an 80% interest in Yarraloola, subject to shareholder approval, and has issued new shares in two tranches for this purpose. The project has a historical context dating back to 1963 with significant copper and gold potential. This strategic move enhances Arrow's exploration prospects in the Pilbara region of Western Australia. Additionally, Arrow has engaged with Soguipami to address tenure status in Guinea, reflecting its proactive approach to securing exploration rights and advancing its projects.
Key Points
  • Arrow Minerals Ltd raised $2.25 million via a Placement in two tranches.
  • Funds will be used to advance exploration activities at the Yarraloola Copper Project.
  • Arrow Minerals entered a Sale and Purchase Agreement to acquire an 80% interest in the Yarraloola Copper Project.
  • The Yarraloola Acquisition is subject to shareholder approval.
  • Yarraloola was first mined for copper in 1963 and has had limited activity since.
  • The Placement involves issuing 562,500,000 new fully paid ordinary shares.
  • Tranche 1 and Tranche 2 of the Placement include director participation and are subject to shareholder approval.
  • Euroz Hartleys Limited and Salient Corporate acted as Joint Lead Managers for the Placement.
  • The Company has also signed a non-binding Memorandum of Understanding with Soguipami to clarify tenure status in Guinea.
  • Arrow Minerals Ltd's pro forma balance sheet reflects the financial impact of the Placement and Yarraloola Acquisition.
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.