Superior Resources Limited (ASX: SPQ) has announced it has secured an additional $250,000 in binding commitments from strategic investors, following its recent $1.75 million capital raising announced on 11 December 2025. Superior Resources is an Australian public company focused on exploring for high-grade copper-gold-silver, large copper-gold porphyries, nickel-copper-cobalt-PGE, lead-zinc-silver and gold deposits in northern Queensland. The placement will involve the issue of an additional 33,333,333 fully paid ordinary shares at $0.0075 per share, bringing the total shares to be issued to 266,666,666, along with attaching options.
The funding boost, bringing the total to $2.00 million, will primarily support resource growth initiatives at Superior’s Steam Engine Gold Project, including a 3,000m RC drill program. The project currently holds a JORC Mineral Resource of 194,000 ounces of gold. Funds will also facilitate the advancement of the Steam Engine Feasibility Study, focusing on a toll-treatment development pathway to assess near-term gold production potential.
In addition to the Steam Engine project, the funding will enable the commencement of soil and geophysical survey programs at the Telegraph and Halls Reward copper prospects, with a drilling program of up to 3,000m planned. The company intends to use some of the capital for general working capital and placement costs.
Peter Hwang, Superior’s Managing Director, expressed his gratitude to shareholders for their continued support, highlighting the exciting period for the company as it aims to deliver on its gold and copper growth objectives. He also noted the potential for a large-scale, high-grade greenfield copper discovery at Halls Reward and Telegraph copper prospects. The placement shares are expected to be issued around 18 December 2025, subject to receipt of funds.
