InvestSMART

Waratah Minerals Limited (ASX:WTM)

ALERT: Price-sensitive ASX Announcement for WTM
Current share price for WTM : $0.460 -0.245 (-34.75%)+
Announcement
Release
7 May 2026 9:29AM
Price at Release
$0.705
Full Release
download
Summary
Waratah Minerals Limited announced a successful A$48 million placement to fund an aggressive drilling program at the Spur Gold Project. The placement was well-received by both Australian and North American institutional investors, reinforcing the company's shareholder base. The funds will support ongoing drilling programs at various gold zones, metallurgical test work, and geophysical studies, with expectations to deliver a maiden Mineral Resource Estimate in Q1 CY2027. The placement involved issuing approximately 77.4 million new shares at A$0.62 each, marking a discount to recent share prices. Bell Potter Securities Limited acted as the Sole Lead Manager and Bookrunner for the placement, with the new shares expected to be allotted by mid-May 2026.
Key Points
  • A$48 million placement secured for the Spur Gold Project.
  • Strong demand from institutional investors in Australia and North America.
  • Placement to fund drilling, metallurgical test work, and geophysical studies.
  • Approximately 77.4 million shares issued at A$0.62 each.
  • Bell Potter Securities Limited managed the placement.
  • New shares expected to be allotted by mid-May 2026.
  • Waratah Minerals aims to deliver a maiden Mineral Resource Estimate by Q1 CY2027.
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.