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Empire Resources Limited (ASX:ERL)

ALERT: Price-sensitive ASX Announcement for ERL
Current share price for ERL : $0.006 -0.002 (-25%)+
Announcement
Release
11 Feb 2026 5:16PM
Price at Release
$0.008
Full Release
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Summary
Empire Resources Limited announced on 11 February 2026 that it has secured firm commitments for a A$5 million placement through issuing 625,000,000 new shares at an issue price of A$0.008 each. The placement, facilitated without a lead manager but with assistance from BW Equities Pty Ltd, is split into two tranches. Tranche 1 is an unconditional issuance of shares, while Tranche 2 is contingent on shareholder approval at an upcoming Extraordinary General Meeting. The capital raised will accelerate exploration at the Yuinmery Copper-Gold Project and the Penny’s Gold Project, as well as contribute to general working capital. Director Dr Michael Ruane has committed A$1.5 million to the placement. Empire Resources Limited, focused on gold and copper exploration in Western Australia, aims to enhance its development projects with these funds.
Key Points
  • Empire Resources Limited received firm commitments for a A$5 million placement.
  • The placement involves issuing 625,000,000 new shares at A$0.008 each.
  • The placement is divided into two tranches: Tranche 1 is an unconditional placement, and Tranche 2 is conditional.
  • Funds from the placement will be used for exploration activities at Yuinmery and Penny’s Prospect and for general working capital.
  • Entities controlled by Director Dr Michael Ruane committed A$1.5 million to the placement.
  • No lead manager was appointed; BW Equities Pty Ltd assisted with the placement.
  • The announcement was made on 11 February 2026.
  • Empire Resources Limited focuses on gold and copper exploration and development in Australia.
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.