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IRIS Metals Limited (ASX:IR1)

ALERT: Price-sensitive ASX Announcement for IR1
Current share price for IR1 : $0.052 -0.143 (-73.33%)+
Announcement
Release
3 Feb 2026 9:38AM
Price at Release
$0.195
Full Release
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Summary
IRIS Metals Limited has successfully raised A$5.5 million through a placement at an offer price of A$0.165 per share. This financial boost will support the company's near-term advancement of its critical minerals projects in the United States, including the Tin Mountain and Beecher projects. The placement saw strong backing from existing and new institutional investors, reflecting market confidence in IRIS Metals' strategic positioning in the US critical minerals landscape. The funds will be allocated to complete Mineral Resource Estimates, conduct drilling programs, and initiate early Direct Shipping Ore sales. Participants of the placement will benefit from attaching options, exercisable at a premium to the offer price. Bell Potter Securities Limited acted as the Lead Manager for this placement.
Key Points
  • IRIS Metals Limited announced a placement to raise A$5.5 million at an offer price of A$0.165 per share.
  • The funds will be used for advancing critical minerals projects in the United States, including the Tin Mountain and Beecher projects.
  • The placement was supported by both new and existing institutional investors.
  • The funds will aid in conducting Mineral Resource Estimates, drilling programs, and early Direct Shipping Ore sales.
  • Participants in the placement will receive free unlisted attaching options with a 50% premium to the offer price.
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.