Pursuit Minerals Raises $4.46m in First Tranche of Share Placement

Pursuit Minerals Ltd ( (AU:PUR) ) just unveiled an update.

Pursuit Minerals Ltd has completed Tranche 1 of a previously announced share placement, issuing 46,947,370 fully paid ordinary shares at $0.095 each to raise $4.46 million before costs, using its existing placement capacity. A second tranche aiming to raise an additional $2.54 million will be put to shareholders for approval at a General Meeting expected in March 2026, alongside resolutions to grant unlisted incentive options to directors and officers and to issue 14,736,842 options to lead manager PAC Partners Securities, which is also receiving a 6% cash fee for managing the placement. The company also confirmed the exercise of 141,465 unlisted options into fully paid shares and issued a cleansing notice under section 708A of the Corporations Act, stating it is compliant with its continuous disclosure obligations and that there is no undisclosed information material to assessing the company or the rights attached to the new shares, thereby facilitating secondary trading of the placement shares without further disclosure.

More about Pursuit Minerals Ltd

Pursuit Minerals Ltd is an ASX-listed Australian resources company focused on mineral exploration and development. The company operates in the mining and exploration sector, targeting mineral projects that can be advanced through exploration, appraisal and potential development, with funding typically sourced via equity placements to institutional and other investors.

Average Trading Volume: 713,757

Technical Sentiment Signal: Sell

Current Market Cap: A$26.33M

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