Surefire Resources NL (ASX:SRN) has announced a capital raising initiative aiming for up to A$2.61 million before costs, combining a placement to sophisticated and professional investors with a non-renounceable entitlement offer of options to eligible shareholders. Surefire Resources NL is an Australian mineral exploration company focused on developing gold and base metal projects in Western Australia, aiming to discover and develop viable mineral deposits. This strategic move is designed to bolster its financial position and support ongoing project development.
The placement component involves firm commitments from investors to raise up to A$2,610,000 through the issue of up to 145,000,000 shares at A$0.018 each. Subscribers will also receive one free attaching option, exercisable at A$0.05 and expiring on 30 June 2029, for every share. Shares will be issued in two tranches: the first of up to 45,000,000 shares under existing ASX Listing Rule capacities, while the second tranche of up to 100,000,000 shares, and all placement options, is contingent on shareholder approval. CPS Capital Group Pty Ltd will act as lead manager, receiving various fees and 31,000,000 broker options, subject to shareholder approval.
Concurrently, Surefire Resources will launch a pro-rata non-renounceable entitlement offer. Eligible shareholders in Australia and New Zealand, registered by 5:00pm (AWST) on 15 October 2026, can subscribe for one new option for every two shares held, at A$0.001 each. This offer aims to raise up to A$90,500, with new options having the same terms as the placement options. Funds from both capital raises are primarily earmarked for the development of the Yidby Gold Project, continued exploration and development across the company’s other 100% owned West Australian projects, and for general working capital. The company may also assess and potentially acquire further projects if deemed appropriate.
