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Augustus Minerals Limited (ASX:AUG)

ALERT: Price-sensitive ASX Announcement for AUG
Current share price for AUG : $0.036 -0.005 (-12.20%)+
Announcement
Release
18 May 2026 9:44AM
Price at Release
$0.041
Full Release
download
Summary
Augustus Minerals Limited, an ASX-listed company, has successfully raised $2.5 million through a placement to accelerate their exploration activities, especially focusing on Stage 2 drilling at their Music Well project in Western Australia. The funding will facilitate a 2,300-meter drilling program at Clifton East and an additional 500 meters at the St Patrick's Well target. The raised capital will also support soil and rock sampling to develop new prospects into drill-ready status. Moreover, the funds will aid in conducting an EM survey for the Ti-Tree Project in the Gascoyne region, as well as further exploration at the Vanapa River and Mt Kare projects in Papua New Guinea. The capital raise involved issuing 62,500,000 shares at $0.04 each, alongside attaching options, marking a 2.4% discount to the last closing price. Evolution Capital Pty Ltd acted as the lead manager for the placement.
Key Points
  • Augustus Minerals Limited has raised $2.5 million through a Placement.
  • Funds will expedite Stage 2 drilling at Music Well in Western Australia.
  • Drilling includes 2,300m at Clifton East and 500m at St Patrick's Well.
  • Additional funds allocated for soil sampling and rock chip collection.
  • Ti-Tree Project will conduct EM survey over four targets.
  • Funds will also support Vanapa River and Mt Kare projects in PNG.
  • 62,500,000 shares to be issued at $0.04 per share with options attached.
  • Issue price represented a 2.4% discount to the last close.
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.