• Just the Facts: Leeuwin Metals secures A$3.25 million for exploration and Marda acquisition

  • Jan 28 2025
  • Length: 2 mins
  • Podcast

Just the Facts: Leeuwin Metals secures A$3.25 million for exploration and Marda acquisition

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  • Summary

  • Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Leeuwin Metals Ltd (ASX: LM1). Leeuwin Metals has raised A$3.25 million through a two-tranche share placement priced at A$0.098 per share, reflecting an 18.3% discount to the last closing price. The placement attracted strong interest from institutional and sophisticated investors, with contributions of approximately A$250,000 from directors and management, subject to shareholder approval. The placement comprises two tranches: Tranche 1 raised approximately A$1.55 million, while Tranche 2 is expected to raise A$1.7 million, contingent on shareholder approval at an extraordinary general meeting scheduled for February 2025. The funds will support exploration and drilling activities across Leeuwin’s Australian and Canadian project portfolio, working capital and placement costs. A key focus is the Marda Gold Project in Western Australia, which Leeuwin is acquiring from Ramelius Resources. Announced in December 2024, the acquisition is anticipated to conclude in Q1 2025. Leeuwin's management highlighted the strategic significance of the Marda acquisition, located in a renowned goldfield, as a growth opportunity for shareholders. The funding positions the company to advance its exploration programs across its highly prospective assets. #ProactiveInvestors #LeeuwinMetals #GoldMining #CapitalRaising #MardaGoldProject #ASXUpdate #InstitutionalInvestors #SophisticatedInvestors #GoldExploration #WesternAustralia #CanadaMining #MineralResources #SharePlacement #RameliusResources #MineralExploration #MiningProjects #CorporateUpdate #ExplorationFunding #InvestmentOpportunities #GoldFields #ASXNews
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