Amara Minerals Limited (ASX:AM3), an Australian mineral exploration company advancing high-grade exploration at its Lauriston and Apollo Gold and Antimony Projects in Victoria and holding a lithium portfolio in Brazil, has successfully secured firm commitments for a placement to raise approximately $2.2 million. The placement involves the issue of around 440 million fully paid ordinary shares at an issue price of $0.005 per share. This pricing represents a 25% premium to the last traded price of $0.004 as of 11 June 2026, and an approximate 8.5% premium to the company’s 10-day Volume Weighted Average Price (VWAP).
A key highlight of the capital raise is the increased strategic investment from Nova Minerals Limited (ASX/NASDAQ: NVA), which committed an additional $500,000 as a cornerstone investor. This builds on Nova Minerals’ initial $1 million investment made in September 2025. Amara Minerals Chairman Mena Habib and Managing Director Ian Holland also intend to participate in the placement for $75,000 and $25,000 respectively, subject to shareholder approval. For every two shares subscribed in the placement, investors will receive one free attaching listed option (exercisable at $0.008, expiring 1 May 2029), with the issue of these options also subject to shareholder approval.
The funds raised from this placement are primarily designated to support the next phase of drilling activities at the company’s Lauriston (Trojan and Comet prospects) and Apollo Gold and Antimony Projects in Victoria. This follows recent high-grade antimony results reported from the Trojan Prospect. Additionally, the capital will be used to assess new opportunities and for general working capital, as well as covering the costs associated with the placement. Amara Minerals Managing Director Ian Holland noted that the strongly supported placement reflects continued confidence in the company’s Victorian antimony strategy.
