Chilwa Minerals Limited (CHW), an ASX-listed company focused on mineral exploration, has announced that it has received firm commitments to raise A$4 million through a private placement. Chilwa Minerals is dedicated to exploring and developing resource projects, with a primary focus on its multi-commodity mineral system at the Chilwa Project in Malawi. The funds raised will be used to accelerate activities at this key project.
The placement will involve the issue of 3,907,068 new fully paid ordinary shares at a price of $1.05 per share, representing a 5.4% discount to the company’s last closing price on 30 July 2025. Existing shareholders and high-net-worth individuals have provided firm commitments for the placement. Directors have also pledged their support, subject to shareholder approval, with a combined commitment of approximately $50,000.
Cadell Buss, Managing Director of Chilwa, expressed gratitude for the overwhelming support received, highlighting the company’s progress since its listing two years ago. He noted that continued investment in the asset has benefited the company, shareholders, and local Malawian communities. The raised capital will support further upgrades to the HMS Resource, an initial Scoping Study, and diamond drilling results.
The first tranche of the placement is scheduled to settle on 6 August 2025, with allotment of new shares occurring on 7 August 2025. Shareholder approval for the second tranche, involving director participation, will be sought at an Extraordinary General Meeting (EGM) expected in mid-to-late September 2025. The board of Chilwa Minerals Limited has authorised the release of this announcement to the ASX.
