Flagship Minerals Limited (ASX:FLG)

ALERT: Price-sensitive ASX Announcement for FLG

Current share price for FLG : $0.155 -0.1 (-39.22%)⁺

Announcement

A$2.75 Million Strategic Placement at A$0.25 Per Share

Release

20 May 2026 9:52AM

Price at Release

$0.255

Full Release

Summary

Flagship Minerals Limited announced a strategic placement to raise A$2.75 million through issuing 11 million new fully paid ordinary shares at A$0.25 per share. This placement is supported by three strategic investors aligning with the company's long-term development strategy, including a significant commitment from Xinhai, a global mining engineering group. The funds will be utilized to advance the Isidora Gold Project in Chile, including feasibility studies, technical programs, and working capital. This development follows a substantial upgrade in the JORC Mineral Resource Estimate for the Isidora project, indicating a significant increase in mining potential.

Key Points

A$2.75 million raised through strategic placement at A$0.25 per share.
Funded by three strategic investors, including a European investor and Xinhai.
Isidora Gold Project's Mineral Resource Estimate updated to 2.1Moz Au.
Placement proceeds to fund feasibility studies and project advancement.
7 million shares issued under Listing Rule 7.1A; remainder subject to shareholder approval.

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.