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Lincoln Minerals Limited (ASX:LML)

ALERT: Price-sensitive ASX Announcement for LML
Current share price for LML : $0.011 -0.001 (-8.33%)+
Announcement
Release
25 May 2026 8:37AM
Price at Release
$0.012
Full Release
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Summary
Lincoln Minerals Limited announced a successful A$3.1 million fundraising through a two-tranche placement to advance its Minbrie Copper Project in South Australia. The placement, supported by Prosperity Success Holdings Limited, involves the issuance of approximately 258 million new shares at A$0.012 each. It is structured in two tranches, the first raising A$1 million and the second A$2.1 million, pending shareholder approval. The funds will enable upcoming air core and diamond drilling scheduled for June 2026 at the Minbrie project, which has shown significant copper mineralization. The strategic investor's involvement also provides them a right to nominate a board director.
Key Points
  • Lincoln Minerals Limited has raised A$3.1 million in a two-tranche placement to advance the Minbrie Copper Project.
  • The placement involves issuing approximately 258 million new shares at A$0.012 per share.
  • The first tranche raised A$1 million using Lincoln's placement capacity under ASX Listing Rule 7.1.
  • The second tranche, subject to shareholder approval, will raise A$2.1 million.
  • Each two new shares come with one free attaching option, exercisable at A$0.015 before June 2027.
  • The Minbrie Copper Project spans 17km on South Australia’s Eyre Peninsula with significant copper mineralization potential.
  • Historic core reviews identified unexplored mineralization zones.
  • Air core drilling will commence in June 2026, followed by RC and/or diamond drilling on prospective targets.
  • The strategic investor is Prosperity Success Holdings Limited, wholly owned by Alexander Ji.
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.