Auris Minerals Limited (ASX: AUR), a gold and base metals explorer focused on the Bryah Basin, today announced it has received firm commitments for a $3.2 million strategic placement to sophisticated and professional investors. The placement aims to provide the company with the necessary capital to advance its current projects, strategically target new tenure opportunities, and strengthen its working capital position. The company actively searches for value-add opportunities to the Company’s existing tenure in the Bryah Basin.
The placement will involve the issue of approximately 800,000,000 fully paid ordinary shares at a price of $0.004 per share. The initial stage, raising $286,000, has been completed, with the remaining funds expected to be secured in late November, pending shareholder approval. Additionally, the company proposes issuing 250,000,000 unlisted options, exercisable at $0.004 each, with a three-year expiry, potentially generating an additional $1 million in funding if fully exercised.
Auris Minerals intends to allocate the funds towards project identification and acquisition ($1.6 million), existing project exploration and evaluation ($350,000), offer costs ($250,000), and working capital ($1 million). Managing Director Mike Hendriks stated that the placement puts the company in a strong position amidst favourable commodity market conditions, enabling them to expand their geological team and capabilities.
The company anticipates holding a general meeting in late November to seek shareholder approval for the second tranche of the placement and the issuance of options. Gleneagle Securities Australia Pty Ltd acted as the lead manager for the placement. This announcement lifts the trading halt applied for on 15 October 2025.
