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FireFly Metals Ltd (ASX:FFM)

ALERT: Price-sensitive ASX Announcement for FFM
Current share price for FFM : $1.850 -0.05 (-2.63%)+
Announcement
Release
26 Aug 2026 9:59AM
Price at Release
$1.900
Full Release
download
Summary
FireFly Metals Ltd successfully completed an equity raising of approximately A$190 million primarily to fund the continued development and resource growth of the Green Bay Copper-Gold Project in Newfoundland, Canada. This financing includes an ASX institutional placement and a Canadian bought deal financing through the TSX. The funds will be used for de-risking and advancing the project, purchasing long-lead capital items, and conducting feasibility studies for different project scenarios. The initiative was well-supported by both new and existing institutional investors, reflecting confidence in the project's potential as highlighted in a recent Preliminary Economic Assessment.
Key Points
  • FireFly raised A$180 million through ASX placement and Canadian bought deal.
  • The offering price was A$1.78 per new share.
  • Funds to be used for Green Bay Copper-Gold Project development.
  • Proceeds will support feasibility studies and resource drilling.
  • Final Investment Decision expected by mid-2027.
  • Non-underwritten Share Purchase Plan aims to raise an additional A$10 million.
  • Strong investor support from Australia and overseas.
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.