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Right Resources Limited (ASX:RRE)

ALERT: Price-sensitive ASX Announcement for RRE
Current share price for RRE : $0.090 -0.006 (-6.25%)+
Announcement
Release
9 Jul 2026 9:48AM
Price at Release
$0.096
Full Release
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Summary
Right Resources Limited announced a successful A$2.7 million placement supported by major shareholders, aimed at advancing exploration in the Tumbarumba and New England districts. The placement, priced at a discount of A$0.09 per share, included options and received commitments from directors, reflecting confidence in the company's exploration strategies. The funds will expedite drilling at key projects, including the Pilot Gold Project and Blue Tungsten Prospect, where significant mineralisation has been reported. An additional Securities Purchase Plan aims to raise further capital for ongoing exploration and development efforts.
Key Points
  • Right Resources Limited raised A$2.7 million through a two-tranche placement.
  • The placement was strongly supported by major existing shareholders.
  • Funds will accelerate exploration at the Pilot Gold Project and Blue Tungsten Prospect.
  • Directors committed to A$300,000, representing 11% of placement proceeds.
  • Placement priced at A$0.09 per share, a discount to the market price.
  • Participants receive one free option for every two shares.
  • A Securities Purchase Plan will be launched to raise up to A$1 million.
  • Proceeds will fund drilling and exploration in Tumbarumba and New England.
  • The Blue Prospect has displayed high-grade tungsten mineralisation.
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.