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Anax Metals Limited (ASX:ANX)

ALERT: Price-sensitive ASX Announcement for ANX
Current share price for ANX : $0.031 -0.006 (-16.22%)+
Announcement
Release
3 Jun 2026 10:05AM
Price at Release
$0.037
Full Release
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Summary
Anax Metals Limited announced a $6 million placement to accelerate exploration at the Whim Creek project and appointed Nick Jolly as a Non-Executive Director. The placement, consisting of approximately 176.4 million new shares at $0.034 each, will fund a high-impact drilling program targeting near-mine and extensional opportunities at Whim Creek. The appointment of Mr. Jolly, a seasoned geologist, aims to bolster the company's board with his extensive experience in exploration and resource development. The company expects to have approximately A$12 million in pro-forma cash post-placement, supporting its commitment to advancing the Whim Creek Copper Project towards production.
Key Points
  • Anax Metals Limited received firm commitments to raise approximately $6 million.
  • The funds will be used for exploration at Whim Creek and pursue other strategic initiatives.
  • Nick Jolly appointed as Non-Executive Director to strengthen the board.
  • Mr. Jolly brings over 25 years of experience in exploration and resource growth.
  • Approximately 176.4 million new shares issued at $0.034 each.
  • Placement enhances Anax's exploration capabilities and financial position.
  • Diamond drilling at Whim Creek to start in July 2026.
  • Focus on exploration extensions at Mons Cupri and Whim Creek deposits.
  • Post-placement, pro-forma cash expected to be approximately A$12 million.
  • Anax remains committed to advancing Whim Creek towards production.
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.