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Kalamazoo Resources Limited (ASX:KZR)

ALERT: Price-sensitive ASX Announcement for KZR
Current share price for KZR : $0.155 0.015 (10.71%)+
Announcement
Release
20 Jul 2026 9:14AM
Price at Release
$0.140
Full Release
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Summary
Kalamazoo Resources Limited announced an oversubscribed $8 million placement, exceeding its initial $5 million target due to significant investor interest. This funding will support resource growth and drilling at the Ashburton Gold Project, including updating the Mineral Resource Estimate and progressing the Mt Olympus Pre-Feasibility Study. The shares, priced at $0.12 each, are set to settle on 23 July 2026, with certain director investments and tenement acquisitions awaiting shareholder approval. The placement reflects confidence in the project's potential and aims to accelerate its development.
Key Points
  • Kalamazoo Resources Limited (ASX: KZR) received firm commitments for an $8.0 million oversubscribed placement.
  • The placement was increased from a targeted $5.0 million due to strong investor demand.
  • The additional funding will support resource growth and extension drilling at the Ashburton Gold Project.
  • The funds will also contribute to the updated Mineral Resource Estimate and the Pre-Feasibility Study (PFS) for Mt Olympus.
  • The new shares will be issued at $0.12 per share, representing a discount to recent trading prices.
  • Director investments and the acquisition of new tenements are subject to shareholder approval.
  • Placement shares are expected to settle on 23 July 2026 and be issued on or around 24 July 2026.
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.