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Azzuro Resources PLC (ASX:AZ9)

ALERT: Price-sensitive ASX Announcement for AZ9
Current share price for AZ9 : $0.014 0 (0%)+
Announcement
Release
14 Oct 2026 8:20AM
Price at Release
$0.014
Full Release
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Summary
Azzuro Resources PLC (ASX: AZ9) announced it had entered into a subscription agreement with Kerry Resources Logistics (Hong Kong) Limited for a strategic placement of 203,875,000 CDIs at A$0.015 each to raise A$3,058,125 before costs, with the subscriber set to hold about 19.9% of Azzuro’s issued shares on completion and become a substantial shareholder. The issue price represented a 7% premium to the last traded price on 13 October 2026 and a 10% premium to the 15-day VWAP, and the securities were to be issued under the company’s existing ASX Listing Rule 7.1 and 7.1A placement capacities without shareholder approval. Funds were earmarked for exploration and evaluation of Azzuro’s Mongolian tenements, including advancement of the Red Hill copper-gold VMS system and Oval copper-nickel-PGE discovery, as well as working capital. The agreement had no conditions precedent, completion was expected on 19 October 2026, and the subscriber gained the right to nominate one director while maintaining at least a 15% relevant interest, although it advised it would not nominate a director at that time; the announcement also noted Kerry Mining’s operating experience in Mongolia as a strategic benefit to Azzuro’s progression from exploration toward development.
Key Points
  • Azzuro secured a strategic investment of A$3,058,125 before costs through the placement of 203,875,000 CDIs at A$0.015 each.
  • Kerry Resources Logistics (Hong Kong) Limited was the subscriber and would hold approximately 19.9% of Azzuro after completion.
  • The placement price was a 7% premium to the last closing price of A$0.014 on 13 October 2026 and a 10% premium to the 15-day VWAP of A$0.0136.
  • The placement was to be completed using Azzuro’s existing ASX Listing Rule 7.1 and 7.1A capacity, so shareholder approval was not required.
  • Proceeds were to be used for exploration and evaluation of Azzuro’s Mongolian tenements and for working capital.
  • Management said the funding would fully support resource definition, metallurgical testwork and an initial commercial study at the Red Hill project.
  • The company highlighted both the Red Hill copper-gold VMS system and the Oval copper-nickel-PGE discovery as key assets supported by the investment.
  • The subscriber may nominate one director to the board while it holds at least 15% of the company, but said it would not nominate a director at that time.
  • The subscriber is subject to a two-year standstill, except in agreed circumstances, not to exceed 19.9% of total issued shares.
  • The subscription agreement had no conditions precedent and completion was expected on 19 October 2026.
  • Azzuro described Kerry Mining Group’s local technical and operating expertise in western Mongolia as a strategic advantage.
  • The announcement was authorised by the Board of Azzuro Resources PLC.
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.