Blackstone Minerals Limited (BSX), a company focused on developing mineral projects, including nickel, copper, and gold assets, has announced a Share Purchase Plan (SPP) for eligible shareholders following a recent $22.6 million placement to sophisticated and institutional investors. The company, whose activities are detailed in announcements made to the ASX, is offering shareholders the opportunity to purchase new shares at the same price as the placement, which was $0.078 per share.
Under the SPP, shareholders registered as holders of shares as of 5:00pm (AWST) on 1 July 2025, with a registered address in Australia or New Zealand, are eligible to participate. These eligible shareholders can purchase up to $30,000 worth of shares, with a minimum investment of $2,000, without incurring brokerage or transaction costs. The offer aims to raise a maximum of $2,000,000, but the company reserves the right to accept oversubscriptions or scale back applications at its discretion.
The funds raised from the placement and the SPP will be used for a 50,000-metre drilling program, geophysics, induced polarization survey, magnetics, and further fieldwork, metallurgical and geotechnical work at the Mankayan Copper-Gold Project, as well as for general working capital purposes. The SPP offer opened on 9 July 2025 and is scheduled to close on 23 July 2025.
Blackstone Minerals advises shareholders to seek their own financial and taxation advice before participating in the SPP. Full details of the SPP, including an application form, are available on the Automic website. The company has the discretion to place any shortfall from the SPP, subject to necessary legal requirements and shareholder approval.
