Lord Resources Limited (ASX: LRD) has announced the completion of the placement of the shortfall arising from its pro-rata non-renounceable Entitlement Offer. Lord Resources is focused on exploration and development of mineral resources. It aims to create value for shareholders through strategic acquisitions and targeted exploration programs. The Shortfall Offer, which closed on 23 June 2025, involved the placement of 45,819,087 new fully paid ordinary shares at an issue price of $0.018 per share.
The Shortfall Offer, managed by 708 Capital Pty Ltd as Lead Manager, forms part of a broader Entitlement Offer. Together, the Shortfall Offer and the initial Offer have raised approximately $1,393,668 (before costs) through the issue of a total of 77,426,013 new shares. The company welcomes new shareholders and is preparing to advance exploration efforts at its Western Australian projects, including the Ilgarari Copper Project. Drilling at Ilgarari is expected to begin imminently.
Lord Chairman Paul Lloyd expressed enthusiasm about commencing drilling at the Ilgarari Copper Project, citing the recent global re-rating in the sector. He thanked existing and new shareholders for their support, stating that the rights issue provides the necessary capital to progress the project. The company’s focus is now on exploration, and it anticipates sharing updates in the near future.
708 Capital will receive a 6% fee for managing the Shortfall. As part of its compensation, 708 Capital has subscribed for 2,500,000 options exercisable at $0.03, expiring on or before 15 July 2030. These options were issued under Listing Rule 7.1. The company will lodge an Appendix 2A and Appendix 3G for the quotation of shares and options.
