Augustus Minerals

$1.66M Raised to Accelerate Exploration at Ti-Tree

Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has received commitments from institutional, professional and sophisticated investors to raise $1,667,500 (Placement).


  • Augustus Minerals has received commitments to raise over $1.66m via a Placement.
  • Proceeds from the capital raising will fund:
    • Deep diamond drilling at the Minnie Springs Cu-Mo porphyry (supported by EIS drilling grant)
    • VTEM (Versatile Time Domain Electromagnetic) Helicopter program testing major Cu-Ni-PGE and Uranium targets
    • Expanded soil and rock chip sampling program to progress new high-grade Gold and Copper targets to drill ready status
    • Commence a program of extensive field work over the large 4-kilometer-long Supergene Carbonate hosted Munaballya Well Uranium Target.
  • Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with drilling to commence this quarter.

Under the placement, AUG will issue up to 23,821,430 fully paid ordinary shares (Shares) at an issue price of $0.07 per Share. The Placement includes one (1) attaching unlisted option (Options) for every two (2) Placement Shares. The Options will be exercisable at $0.12 each expiring 2 years after the date of issue.

Funds raised through the Placement will be used for the following:

  • Deep Diamond drilling at the very large Minnie Springs Cu-Mo Porphyry system to test the core of the system for high-grade Copper Sulphide mineralisation.
  • The initial 2 x 700m deep holes planned for Q3, 2024 is with assistance from the co- funded Government EIS drilling grant of up to $110,000 as announced 2 May 2024.
  • Success in the first two planned holes will justify additional diamond drilling to further expand the Minne Springs Porphyry system
  • A VTEM airborne geophysics program testing the Cu-Ni-PGE potential at the Money Intrusion, the Coo Creek Broken Hill Style target and the Munaballya Well uranium U targets.
  • An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
  • Working capital and costs of the Placement.

GM Exploration Commented:

“The Augustus Board are very pleased with the overwhelming support for the placement and thank existing and new sophisticated investors for their support that positions the Company to advance exploration at the Ti-Tree project. The heavily oversubscribed placement demonstrates the strong interest in the EIS Supported drill program at the Minnie Springs Cu-Mo Porphyry system as well as continued exploration at the recently discovered Tiberius, Claudius, Justinian and South Snowy gold-copper-gold-silver prospects. The next six months will be an exciting period of exploration activity for the Company and the team are looking forward to the results”.

The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 and 7.1A capacity. The Company will seek shareholder approval for the issue of Options.

Evolution Capital Pty Ltd (Evolution) and Morgans Corporate Limited (Morgans) acted as joint lead managers to the Placement.


Click here for the full ASX Release

This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AUG:AU
Augustus Minerals

Augustus Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Augustus Minerals

Augustus Minerals


Keep reading...Show less

Vast Land Package for Critical and Precious Metals Exploration in Australia

Communication towers amid green hills at sunrise with blue transmission lines connecting them.

Ericsson, Rogers Launch Canada’s First Underground 5G Network for Smart Mining

Ericsson (NASDAQ:ERIC) and Rogers Communications (NYSE:RCI) have activated Canada’s first underground private 5G network at the Northern Center for Advanced Technology's (NORCAT) Sudbury mine.

The move is part of a bid to transform traditional mining operations with cutting-edge connectivity.

At the heart of this innovation is the Ericsson Private 5G system, which the company says delivers seamless, high-performance, low-latency coverage from the surface to depths of more than a mile.

Keep reading...Show less
Caspin Resources

Extensions and New Zones of High Grade Tin at Bygoo North

Caspin Resources Limited (Caspin or the Company) (ASX: CPN) is pleased to present drill results from a second phase of RC drilling, following the Company’s very successful maiden drilling campaign at its 100% owned Bygoo Tin Project in New South Wales. The Company completed a further 4 holes for 558m, complementing the original 12 holes from the maiden program.

Keep reading...Show less
Nine Mile Metals

Nine Mile Metals Maintains Nine Mile Brook Project Option with Third Anniversary Payment

NINE MILE METALS LTD (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") announces that it has proceeded with its third anniversary payment under its option to Purchase the remaining 50% of the Nine Mile Brook Project, dated November 28th, 2021, (the "Option Agreement") with Fiddlehead Mining Corp. ("Fiddlehead"). On January 17th, 2025, the Company received an extension from Fiddlehead until March 28th, 2025. To maintain the Option, the Company was required to pay $50,000 cash payment and complete $150,000 work in expenditures by the anniversary date. The company has successfully negotiated the cash payment and issued 3,333,333 common shares as payment, at a deemed price of $0.015. In addition, Fiddlehead has agreed to add the annual $150,000 minimum work expenditure commitment to the 4th year requirements.

Keep reading...Show less
Vanadium Resources Limited

Two Year Magnetite DSO Offtake Non Binding MoU Signed, Advancing Strategy for Near-Term Production and Early Cashflow

Vanadium Resources Limited (ASX: VR8; DAX: TR3) (the “Company”) is pleased to announce that its subsidiary, Vanadium Resources (Pty) Limited (“VanRes”) has signed an MoU with China Precious Asia Limited (“CPAL”) in relation to a magnetite ore supply agreement from its world-class Steelpoortdrift Vanadium Project (the “Steelpoortdrift” or the “Project”) in South Africa.

Keep reading...Show less
Impact Minerals

Lake Hope HPA Pre-Feasibility Study and Maiden Ore Reserve

Impact Minerals Limited (ASX:IPT) is pleased to announce the positive results of a Preliminary Feasibility Study (PFS) for the Company’s Lake Hope High Purity Alumina (HPA) Project, located 500 km southeast of Perth in the Tier 1 mining jurisdiction of Western Australia. The PFS results align with those of the Scoping Study on the project released to the ASX on November 9th 2023.

Keep reading...Show less
Yari Minerals Limited

Building a Significant Resource in Queensland’s Coal Heartland

Yari Minerals Limited (ASX:YAR) is pleased to present the Shareholder Investor Presentation for June 2025.

Keep reading...Show less
Augustus Minerals

Augustus Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×