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EV Resources Limited (ASX:EVR)

ALERT: Price-sensitive ASX Announcement for EVR
Current share price for EVR : $0.005 0 (0%)+
Announcement
Release
20 Jul 2026 10:29AM
Price at Release
$0.005
Full Release
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Summary
EV Resources Limited has announced a pro-rata non-renounceable rights issue to raise up to A$1.52 million, with the funds directed towards advancing their antimony projects in Mexico. The Company will also undergo management changes, with Mike Brown stepping down and being replaced by Shane Menere as Executive Chairman and Miguel Barahona as Interim CEO. Additionally, EVR plans a 10:1 capital consolidation to optimize its capital structure. The rights issue is partially underwritten by Indian Ocean Securities Pty Ltd, providing increased funding certainty. These steps aim to bolster the company’s balance sheet and progress their strategic initiatives towards near-term antimony production.
Key Points
  • Mike Brown steps down as Managing Director and CEO, replaced by Shane Menere as Executive Chairman and Miguel Barahona as Interim CEO.
  • The company will undergo a 10:1 capital consolidation, subject to shareholder approval.
  • EV Resources Limited announces a rights issue offering one new share for every ten held, aiming to raise up to A$1.52 million.
  • Rights issue includes one free attaching option for every new share, exercisable at $0.0075 and expiring August 2030.
  • The rights issue is partially underwritten to $1 million by Indian Ocean Securities Pty Ltd.
  • Funds from the rights issue will support the advancement of EVR’s antimony projects in Mexico, including the Tecomatlán Processing Plant.
  • The management aims to strengthen EVR’s balance sheet and advance its strategy towards near-term antimony production.
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.