Dart Mining NL (ASX:DTM) has announced that it has secured firm commitments from professional and sophisticated investors for a two-tranche placement, aiming to raise $2.86 million before costs. Dart Mining is focused on the discovery and development of gold, copper, silver, molybdenum, and other economically important metal deposits in Eastern Victoria and Central Queensland. The funds will be raised through the issue of 1,682,352,941 new fully paid ordinary shares at a price of 0.17 cents per share.
The placement will occur in two tranches. Tranche 1 will raise $300,000 through the issue of 176,470,588 new shares under Listing Rule 7.1. The company will seek shareholder approval for Tranche 2, which aims to raise an additional $2.56 million through the issue of 1,505,882,353 new shares. The placement price represents a 43% discount to the company’s closing price on August 8, 2025. Shareholders will also be asked to approve the issue of one free option for every two new shares issued under both tranches, exercisable at 0.34 cents and expiring three years from the issue date.
Oakley Capital Partners Pty Ltd served as the Lead Manager for the placement, receiving a fee of 6% on funds raised, along with broker options subject to shareholder approval. Zerp Capital Pty Ltd assisted with the placement and will also receive a 6% fee and broker options. The net funds raised from the placement will be used to further advance drilling at Dart’s Triumph Gold Project and its Coonambula Antimony/Gold Project in Central Queensland, as well as for general working capital.
Following the settlement of Tranche 2, Dart Mining intends to conduct a 1-for-15 consolidation of its shares and options, subject to shareholder approval. Separately, the company is considering a bonus options entitlement to all eligible existing shareholders, with further details to be released pending agreement with the Lead Manager. The board expressed gratitude to both existing and new shareholders for their support of the placement.
