Altair Minerals Limited (ASX: ALR), focused on resource sector investments through direct tenement acquisition, joint ventures, and new project generation, has announced it has received firm commitments for a A$13 million institutional placement. The placement will fund a minimum 15,000m drill program at the Greater Oko Project, expected to commence in early Q1 2026. The company’s projects are located in South Australia, Western Australia and Queensland with a key focus on its Olympic Domain tenements located in South Australia.
The placement, priced at A$0.016 per share, attracted significant interest from internationally renowned institutions and prominent mining investors. 1832 Asset Management will become a substantial shareholder of Altair Minerals. Joint Lead Managers and Joint Bookrunners for the placement were 62 Capital Pty Ltd and Argonaut Securities Pty Limited. Morgans Financial Corporate Limited acted as Co-Manager.
The proceeds from the placement will be allocated to geochemical and geophysical programs at the Greater Oko Project. Funds will also support Phase I diamond drilling at North Peters (3,000 – 5,000m) and South Oko (10,000 – 12,000m), along with the construction of a permanent camp. The remaining funds will be used for working capital and to cover the costs of the placement.
CEO Faheem Ahmed stated the placement demonstrates the prospectivity of the Greater Oko Project. He welcomed the new globally recognised mining investor and thanked existing and new shareholders for their continued support. He also noted Altair is excited to move at greater scale and speed toward a major drill program.
