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Buru Energy Limited (ASX:BRU)

ALERT: Price-sensitive ASX Announcement for BRU
Current share price for BRU : $0.012 -0.012 (-50%)+
Announcement
Release
1 Sep 2025 8:41AM
Price at Release
$0.024
Full Release
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Summary
Buru Energy Limited (ASX: BRU) has successfully completed a $2.1 million share placement and announced a Share Purchase Plan (SPP) aimed at raising an additional $3.0 million to fund the commercialisation activities of the Rafael Gas Project. The placement was directed at sophisticated investors, offering shares at 2.0 cents each, with an attaching option for every two shares at a strike price of 3.0 cents, valid for two years. An Extraordinary General Meeting is required to approve the options issuance. The SPP, opening on 8 September 2025, allows existing Australian and New Zealand shareholders to apply for shares up to $30,000, under the same terms as the placement. Funds from these initiatives are intended to support key project activities, including securing an upstream development partner for the 2026 appraisal program. The final investment decision is targeted for the second half of 2026, with potential first cash flow expected by early 2028.
Key Points
  • Buru Energy Limited completed a $2.1 million share placement.
  • Share Purchase Plan (SPP) aims to raise an additional $3.0 million.
  • Funds to support Rafael Gas Project commercialisation.
  • Placement shares offered at 2.0 cents with a 1 for 2 attaching option.
  • SPP opens on 8 September 2025 for Australian and New Zealand shareholders.
  • Final investment decision for Rafael Gas Project expected in 2H 2026.
  • Potential first cash flow from project targeted for early 2028.
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.