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Superior Resources Limited (ASX:SPQ)

ALERT: Price-sensitive ASX Announcement for SPQ
Current share price for SPQ : $0.004 -0.006 (-60%)+
Announcement
Release
15 Dec 2025 10:18AM
Price at Release
$0.010
Full Release
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Summary
Superior Resources Limited (ASX: SPQ) has secured an additional $250,000 in binding commitments from strategic investors, bolstering a total of $2.00 million in funding to further their gold resource growth initiatives. This includes the advancement of a feasibility study for the Steam Engine Gold Project, which is focused on a toll-treatment development pathway for potential near-term gold production. The funding will also support a new 3,000m RC Drill Program to expand the existing Mineral Resource and initiate soil and geophysical surveys at other copper prospects. The placement of shares, totaling 266,666,666 at $0.0075 per share, aims to fortify Superior’s position in executing these extensive exploration and study plans.
Key Points
  • Secured additional $250,000 funding from strategic investors.
  • Total placement funding amounts to $2.00m through the issuance of 266,666,666 shares.
  • Advancement of the Steam Engine Gold Project’s feasibility study and new 3,000m RC Drill Program scheduled for Q1 CY2026.
  • Funding supports exploration initiatives at Telegraph and Halls Reward copper prospects.
  • Placement shares to be issued around 18 December 2025, subject to fund reception.
  • Potential for near-term gold production through a toll-treatment pathway.
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.