Bryah Resources Limited (ASX: BYH) has announced it will raise $170,000 through a private placement to fund ongoing exploration and project development. Bryah Resources has projects located in Canada and Western Australia. The company’s prospective Bryah Basin licences cover 1,048km and have a potential new Volcanogenic Massive Sulphide (VMS) ‘Horseshoe Lights type’ mine analogue with multiple other untested targets.
The company received firm commitments from sophisticated investors for 28,333,333 fully paid ordinary shares at an issue price of $0.006 per share. According to the announcement, the proceeds from the placement will be primarily allocated to environmental and mining studies, field work at the Golden Pike Gold and Antimony Project, and for general working capital.
The offer price of $0.006 represents a 20.8% discount to the 15-day volume-weighted average price (VWAP) of $0.0076. The issue of the new shares is expected to be completed on Wednesday, 23 July 2025. The new shares will rank equally with the company’s currently issued shares.
The company confirmed it will utilise its placement capacity under ASX Listing Rule 7.1A for the issue of the new shares and that there was no lead manager for the placement. For additional details, investors can contact Greg Hill, CEO of Bryah Resources. The company’s announcement was approved by the board.
