Strategic Energy Resources Limited (ASX:SER), a specialised under-cover explorer focused on the discovery of world-class deposits in Queensland, announced on June 29, 2026, the successful completion of a capital raise totalling A$1.5 million. The funds secured through a share placement and an expected underwritten share purchase plan are primarily earmarked to underpin a high-impact diamond drill program at the company’s 100%-owned Diamantina Copper-Gold Project located in Queensland.
The capital raise comprises firm commitments for A$1.25 million via a share placement and an additional A$0.25 million through a Share Purchase Plan (SPP), which is expected to be fully underwritten by Leeuwin Wealth. Shares were issued at A$0.12 each, representing a 17.2% discount to the company’s last traded price on June 24, 2026, and an 18.9% discount to its 10-day volume-weighted average price. The placement garnered strong interest from new and existing sophisticated and institutional investors, with firm commitments from the Board totalling A$100,000, subject to shareholder approval, and support from major shareholder Juel Enterprises Pty Ltd.
Proceeds from the placement and SPP will be allocated to fund the high-impact exploration drilling at the Diamantina Copper-Gold Project, cover deferred consideration for the project’s acquisition from Anglo American Exploration (Australia), and provide general working capital. Drilling at Diamantina is planned to commence immediately following the imminent drill campaign at the Canobie Copper Project, a joint venture with Fortescue Metals Group, scheduled for July. Strategic Energy Resources’ Managing Director, Dr David DeTata, thanked shareholders for their support, expressing excitement about the opportunity to discover a large-scale IOCG deposit at Diamantina, building upon Anglo American’s historical work.
