WA1 Resources Ltd (ASX: WA1), a company focused on discovering and developing critical minerals, is pleased to announce it has received firm commitments for a placement to raise A$100 million before costs. The placement of new fully paid ordinary shares will support the advancement of the Luni Niobium Project. Strong support was received from new and existing institutional investors across The Americas and Australia.
The placement price is set at A$17 per new share, representing a 9.4% discount to the 5-day Volume Weighted Average Price. Approximately 5.9 million new shares will be issued under the company’s existing placement capacity according to ASX Listing Rule 7.1. Following completion of the Placement, WA1 Resources will have approximately 74.2 million shares on issue.
The funds raised will primarily support ongoing pre-development activities at the Luni Niobium Project. These activities include mine design studies, process flowsheet testwork and optimisation, and crucial permitting workstreams. A portion of the funds will also be allocated to capital expenditure associated with essential supporting infrastructure for the strategic advancement of the project. Additional funds will be used to support planned exploration activities, administration and corporate costs, and general working capital.
According to WA1 Managing Director Paul Savich, the company will hold approximately A$168 million in cash following the placement. This provides a strong balance sheet to assist with progressing one of Australia’s most important critical mineral projects. Canaccord Genuity (Australia) Ltd, Argonaut Securities Pty Limited, and Bell Potter Securities Ltd acted as managers for the placement. Settlement is expected on 21 August 2025, with allotment and normal trading of new shares on 22 August 2025.
