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Arika Resources Limited (ASX:ARI)

ALERT: Price-sensitive ASX Announcement for ARI
Current share price for ARI : $0.030 0.006 (25%)+
Announcement
Release
27 Jul 2026 9:39AM
Price at Release
$0.024
Full Release
download
Summary
Arika Resources Limited has successfully secured $6.55 million through a placement aimed at accelerating its Western Australian gold growth strategy. This capital raising, cornerstoned by Lion Selection Group with a new substantial shareholding at 6.7%, will fund extensive exploration and drilling activities at the company's Yundamindra and Kookynie Gold Projects. Located in the prolific Eastern Goldfields of Western Australia, these projects are set to benefit from a comprehensive 20,000m drilling program. Funds will also be allocated for resource definition, extension drilling, and working capital. The placement was managed by Argonaut Securities Pty Limited.
Key Points
  • Arika Resources Limited (ASX: ARI) announced a $6.55 million capital raising through a placement.
  • The placement involves issuing approximately 344.7 million shares at $0.019 per share.
  • Lion Selection Group will become a substantial shareholder with a 6.7% stake.
  • Funds will be used to accelerate exploration at Yundamindra and Kookynie Gold Projects.
  • The gold projects are located in Western Australia's Eastern Goldfields.
  • A major 20,000m drilling campaign is underway.
  • Argonaut Securities Pty Limited acted as Lead Manager and Bookrunner.
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.