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Superior Resources Limited (ASX:SPQ)

ALERT: Price-sensitive ASX Announcement for SPQ
Current share price for SPQ : $0.004 -0.007 (-63.64%)+
Announcement
Release
11 Dec 2025 10:47AM
Price at Release
$0.011
Full Release
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Summary
Superior Resources Limited (ASX:SPQ) announced the successful completion of a $1.75 million capital raise through the issuance of 233,333,333 fully paid ordinary shares at $0.0075 per share, with additional options for every three shares issued. The funds will be used to advance a 3,000m drill program at the Steam Engine Gold Project, targeting resource expansion, and to continue feasibility studies for potential near-term gold production through a toll-treatment development pathway. Additionally, exploration programs at the Telegraph and Halls Reward copper prospects are planned. The capital raise was supported by new and existing wholesale, high net worth, and institutional investors, and was conducted under Superior's existing placement capacity without shareholder approval.
Key Points
  • Successful $1.75 million capital raise
  • Issuance of 233,333,333 shares at $0.0075 each
  • Supports 3,000m drill program at Steam Engine Gold Project
  • Feasibility studies for toll-treatment and near-term gold production
  • Exploration planned for Telegraph and Halls Reward copper prospects
  • Placement supported by institutional investors
  • Conducted under current ASX Listing Rule capacity
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.