Mt Malcolm Mines Cuts Price and Restructures Rights Issue to Fund Leonora Growth Push

Mt Malcolm Mines NL ( (AU:M2M) ) has provided an announcement.

Mt Malcolm Mines NL has revised the terms of its previously announced pro-rata non-renounceable rights issue, withdrawing the original two-for-five offer at $0.01 and replacing it with a one-for-two offer at $0.007 per share to raise up to approximately $1.81 million before costs. The new issue, not underwritten and managed by Mahe Capital, is pitched at a material discount to recent trading prices, with eligible shareholders also able to apply for shortfall shares, and proceeds earmarked primarily for a processing plant study at Leonora and ongoing gold, VHMS and REE exploration at the Malcolm Gold Project.

The revised structure responds to recent global market volatility by offering more attractive pricing and a higher entitlement ratio, aiming to boost shareholder participation and secure funding for what the company describes as potentially defining infrastructure and growth initiatives. All new shares will rank equally with existing stock, quotation on the ASX will be sought, and the offer is scheduled to open on 14 May 2026 and close on 4 June 2026, with Mt Malcolm retaining flexibility to vary key dates subject to regulatory requirements.

More about Mt Malcolm Mines NL

Mt Malcolm Mines NL is an Australian exploration company focused on gold and associated minerals in Western Australia’s Eastern Goldfields. Its flagship Malcolm Gold Project encompasses a semi-contiguous 274 km² tenement package in the Leonora district, where it is also assessing the feasibility of developing a 500,000 tonnes per annum CIP processing facility.

Average Trading Volume: 886,912

Technical Sentiment Signal: Sell

Current Market Cap: A$5.78M

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