Ballymore Resources Ltd (ASX: BMR) has announced the successful completion of its capital raising initiatives, securing over $4.7 million before costs. The company, which holds a portfolio of exploration and development projects in Queensland’s prolific mineral belts, is highly prospective for gold and base metals across its Dittmer, Ruddygore, Ravenswood, and Mount Molloy project areas. This capital injection follows the fully subscribed Entitlement Offer and strong demand for a subsequent Further Placement.
The 1-for-8 non-renounceable Entitlement Offer, priced at A$0.125 per New Share, successfully raised the full $3,244,560, including $430,000 from director participation. Each subscription included a free attaching option (one for every two shares), exercisable at $0.22 by 31 December 2028. Additional demand from existing shareholders and new institutional and sophisticated investors subsequently led to a Further Placement of $1.5 million, undertaken on the same terms, bringing total funds raised to over $4.7 million. New Shares and Options from the Entitlement Offer are slated for issue on 5 June 2026, with trading commencing on 8 June 2026. The Further Placement is expected to settle on 17 June 2026.
Ballymore Chairman, Mr Andrew Greville, commented that the successful raise strongly endorses the company’s strategy, asset base, and exploration outlook, highlighting pleasing support from existing shareholders and the board. The funds are earmarked to drive near-term drilling and discovery efforts across its Dittmer, Ruddygore/Torpy’s, and Ravenswood projects. Managing Director, Mr David A-Izzeddin, added that this capital provides confidence to expand 2026 exploration programs, with drilling already underway at Torpy’s. He noted the capital would support both near-surface high-grade opportunities and larger-scale system targets, including porphyry copper potential, promising a strong flow of exploration results.
