Lord Resources Limited (ASX: LRD) has announced the completion of its pro-rata non-renounceable Entitlement Offer. Lord Resources is an exploration company focused on future-facing metals in Western Australia, including copper, gold, and lithium projects. The offer comprised one new fully paid ordinary share for every one existing share, priced at $0.018 per share, aiming to raise approximately $1,393,668 before costs.
The company received applications for 31,606,926 new shares, totaling $568,925.08. This included applications for 22,899,373 entitlement shares and 8,707,553 additional entitlement offer shares from the shortfall. The new shares have been issued today, in line with the timetable previously announced on May 30, 2025.
The resulting shortfall from the Entitlement Offer is 45,819,087 shares, representing a take-up rate of approximately 40.82% from eligible shareholders. Lord Resources expressed gratitude to shareholders for their support and highlighted their excitement to further progress exploration efforts at the Ilgarari Copper Project.
According to the terms of the Entitlement Offer, the Directors may allocate the shortfall at their discretion within three months of the closing date. The company plans to approach parties who have previously expressed interest in taking up the shortfall.
