McLaren Minerals Limited (ASX: MML), an exploration company focused on the future development of its high-value McLaren titanium project in the Eucla Basin of Western Australia, has announced a A$3.6 million capital raising via a fully underwritten entitlement offer to advance the McLaren Project. Titanium is considered a critical mineral and is essential for aerospace, defence and energy technologies. The offer is structured as a 1-for-1 pro-rata non-renounceable entitlement offer to existing eligible shareholders.
The entitlement offer allows eligible shareholders to subscribe for one new share for every one share held at the record date, set for 5pm (AWST) on Friday, 7 November 2025. The offer price is 1.8 cents per new share, representing a 19.5% discount to the theoretical ex-rights price of 2.24 cents per share. For every two new shares subscribed, participants will receive one short-term unlisted attaching option and one long-term listed attaching option. The Entitlement Offer is expected to open on Wednesday, 12 November 2025 and close on Wednesday, 3 December 2025.
Leeuwin Wealth Pty Ltd and Cumulus Wealth Pty Ltd are acting as Joint Lead Managers to the Offer, with Leeuwin Wealth also serving as Underwriter and Corporate Advisor. Eligible shareholders can also apply for additional new securities beyond their entitlement via a Top-Up Facility. Any shortfall will be offered to sophisticated or professional investors.
According to McLaren Minerals, the funds raised will be primarily used to continue the advancement of the McLaren Project, including drilling, exploration, metallurgical test work, engineering design, and environmental studies. The company expects the funds to support the project through feasibility and into production.
