Alma Metals (ASX:ALM) is initiating a pro-rata non-renounceable rights offer to raise up to $1.06 million, designated for advancing its Briggs Copper Project in Queensland. The funds will facilitate the completion of a Scoping Study and the commencement of drilling operations. The offer entails issuing up to 264.39 million shares at $0.004 per share, with eligible shareholders entitled to one share for every six shares held. Offer documents will be dispatched to shareholders on June 2, 2025, targeting a minimum subscription of $500,000.
The Briggs Copper Project, located 60km from Gladstone, Queensland, is strategically positioned near key infrastructure, including high-voltage power lines, a heavy haulage railway, and multiple gas pipelines, promising operational efficiencies. Alma Metals emphasizes the project’s substantial expansion potential, with current estimations indicating a resource of 2 million tonnes of contained copper. The company aims to contribute to the global clean energy transition through its copper exploration endeavors in Queensland and Western Australia.
