Critical Minerals Group (ASX:CMG) announced on 19 October 2026 a capital raising of up to $2.05 million to fund the commencement of the Definitive Feasibility Study (DFS) for its Lindfield Vanadium Project. Critical Minerals Group is a Brisbane-based critical minerals company developing an integrated vanadium supply chain to support the rapidly growing market for vanadium flow batteries and long-duration energy storage. Proceeds will specifically support a pre-wet season drilling program, bench-scale metallurgical testing, and advance environmental and mining lease approvals for the Queensland project.
The capital raising includes a placement to sophisticated investors, securing commitments for approximately $1.25 million via 20,833,333 new shares at $0.06 each. Separately, an $800,000 Share Purchase Plan (SPP) offers eligible shareholders in Australia and New Zealand the chance to apply for up to $30,000 in shares at the same price. Cornerstone shareholder Idemitsu Lindfield Pty Ltd committed approximately $694,059, subject to shareholder approval, to maintain its holding. Substantial shareholder Mr Gerhard Redelinghuys will also participate in the placement, contingent on shareholder approval following his new board role.
In related news, Critical Minerals Group announced the appointment of Mr Gerhard Redelinghuys as a Non-Executive Director, effective 19 October 2026. Mr Redelinghuys brings extensive experience from the resources sector, including founding Bowen Coking Coal Limited. His election to the board is subject to shareholder approval at the upcoming Annual General Meeting. Furthermore, the company implemented cost reduction initiatives, making the full-time Chief Financial Officer role redundant. Ms Trudy Walsh will transition out, with Mr Adam Gallagher continuing as Company Secretary. These changes aim to streamline operations and enhance focus on the Lindfield Vanadium Project’s strategic progression.
