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Desert Minerals Ltd (ASX:DSM)

ALERT: Price-sensitive ASX Announcement for DSM
Current share price for DSM : $0.745 0.405 (119.12%)+
Announcement
Release
2 Jun 2026 9:17AM
Price at Release
$0.340
Full Release
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Summary
Desert Minerals Ltd (DSM) announced the successful completion of a $1 million capital raising at a premium to the market price. This was achieved through a placement to strategic investors at $0.35 per share, representing a 2.9% premium. The funds will be used for advancing exploration at the Scotty Lithium Project in Nevada, USA, and the Monger Gold Project in Western Australia, along with assessing new value-accretive opportunities. The placement did not incur any broker fees, thus maximizing the capital available for deploying into shareholder value. Additionally, DSM issued 1,250,000 unlisted options to placement facilitators, subject to shareholder approval.
Key Points
  • DSM completes $1 million placement at $0.35 per share.
  • Placement done without broker fees to maximize capital use.
  • Funds focused on exploration in Nevada and Western Australia.
  • 1,250,000 unlisted options issued to facilitators.
  • Desert Minerals focused on gold and lithium projects.
  • Strategic investors support company's growth strategy.
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.