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Litchfield Minerals Limited (ASX:LMS)

ALERT: Price-sensitive ASX Announcement for LMS
Current share price for LMS : $0.210 -0.52 (-71.23%)+
Announcement
Release
20 Oct 2025 8:31AM
Price at Release
$0.730
Full Release
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Summary
Litchfield Minerals Limited announced a successful capital raise of $6.0 million through an equity placement to key institutional and sophisticated investors. This fundraising effort, accomplished at $0.60 per share, was facilitated by Alpine Capital and exceeded expectations due to high demand from resource sector investors. The capital will be utilized to accelerate the exploration of the Oonagalabi prospect, a project believed to be larger and more complex than previously understood. This boost in funds will allow Litchfield to enhance their exploration strategy, leveraging advanced geophysics and targeted drilling to better understand the mineralized architecture of the copper-zinc system. This investment underscores the confidence in the Oonagalabi system's potential and supports the company's growth ambitions.
Key Points
  • Successful $6.0 million placement to institutional and sophisticated investors.
  • Placement executed by Alpine Capital, exceeding expectations.
  • Funds to accelerate exploration of the Oonagalabi prospect.
  • New investors include high-quality institutions, enhancing exploration support.
  • Oonagalabi prospect considered larger and more complex than previously understood.
  • Placement at $0.60 per share, representing a discount to previous prices.
  • Settlement scheduled for 24th October, with shares issued on 27th October.
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.