Several mining companies have announced capital raises during the week ending 25 July. Larvotto Resources (ASX:LRV) has raised $60 million through a two-tranche placement, issuing 88.2 million shares at $0.68 each. Larvotto Resources is focused on discovering and developing critical minerals, with a portfolio of projects across Australia and New Zealand. The company’s primary focus is advancing the Hillgrove Gold-Antimony Project in New South Wales.
The first tranche secured $41.9 million through 61.6 million shares. The second tranche aims to raise the remaining $18.1 million through 26.6 million shares, pending shareholder approval at a general meeting scheduled for late August. Additionally, Larvotto is launching a share purchase plan to raise a further $5 million at the same issue price, offering existing shareholders up to $30,000 worth of shares. These funds will support the development of the Hillgrove Project, with the first ore production targeted for Q2 2026.
Strike Energy (ASX:STX) has closed the first tranche of its placement with Carnarvon Energy (ASX:CVN), raising $52 million. Strike Energy is an Australian energy company focused on developing gas resources. Carnarvon is eligible to earn up to a 19.9% shareholding in Strike for up to $89 million worth in shares. Strike intends to raise an additional $10 million through a share purchase plan and complete the second tranche following a general meeting in mid-September. Mithril Silver and Gold (ASX:MTH) raised C$11.5 million ($12.79 million) through a private placement to advance its Copalquin Project in Mexico.
Octava Minerals (ASX:OCT) has secured commitments to raise $1.5 million through a two-tranche placement. Octava Minerals is an exploration company focused on discovering and developing resource projects. Funds will be allocated to exploration at the Federation Project in Western Tasmania. The company intends to issue around 50 million shares at $0.03 per share and is offering a free attaching option for every two shares subscribed.
