Strata Minerals Limited (ASX: SMX) has announced a successful equity placement, securing A$1.57 million to accelerate the advancement of its Zelica Gold Project in Western Australia. The company is an Australian, ASX-listed exploration entity strategically focused on acquiring, exploring, and developing mineral projects, particularly high-potential gold assets in Western Australia. The placement, priced at A$0.02 per share, saw strong support from existing shareholders and sophisticated investors, resulting in the commitment for 78,776,159 new fully paid ordinary shares.
The capital injection is earmarked to propel key activities at the Zelica Gold Project. Funds will be directed towards continued exploration and drilling programs, building on recent positive results that have demonstrated consistent shallow gold mineralisation. A significant portion will also support the progression towards a maiden JORC Mineral Resource Estimate and evaluate potential development pathways, leveraging the project’s existing granted mining lease. General corporate purposes and other strategic initiatives will also utilise a portion of the raised capital.
Managing Director Peter Woods highlighted the strategic importance of the funding, stating that the placement strengthens the company’s position at a pivotal stage for Zelica. He noted that recent drilling results confirm encouraging continuity of shallow gold mineralisation and, combined with the granted mining lease and expanding mineralised footprint, provide a clear pathway towards resource definition and potential development. The placement will be completed as a single tranche, utilising the company’s existing ASX Listing Rules 7.1 and 7.1A capacity, with settlement anticipated around 1 May 2026. Phase 2 drill assays are expected in the coming weeks, further adding to the project’s data.
