Cassius Mining Limited (ASX: CMD) announced today that it has successfully completed a share placement, raising $2.025 million. Cassius Mining Limited is a resources company focused on mineral exploration and development, with projects including a limestone asset in Madagascar and an ongoing international arbitration case related to Ghana. The placement saw the issue of 101,250,000 fully paid ordinary shares at an issue price of $0.02 per share to professional and sophisticated investors. This strongly supported capital raise reflects significant investor demand and has broadened Cassius’s shareholder base by welcoming a range of new participants to its register.
The funds secured from this placement are strategically earmarked to advance the Company’s key priorities. Specifically, the proceeds will be allocated to the continued development of the Soalara Limestone Project in Madagascar and to support the ongoing international arbitration proceedings against the Government of Ghana. Additionally, a portion of the capital will bolster general working capital requirements. Regarding the arbitration, an in-person hearing concluded at The Peace Palace in The Hague in June 2026, with the Tribunal setting deadlines for Post-Hearing Briefs by 14 August 2026 and Reply Post-Hearing Briefs by 18 September 2026, after which a final decision will be considered.
The issue price of $0.02 per share represents a 16.67% discount to Cassius Mining’s last ASX closing price of $0.024 on 7 August 2026, and a 24.81% discount to the 15-day volume weighted average price. Subject to shareholder approval at an upcoming general meeting, investors participating in the placement will also receive one free attaching listed option for every share, under the existing CMDO class, with an exercise price of $0.03 and an expiry of 8 June 2029. Allotment and commencement of trading for the new shares are anticipated for Wednesday, 19 August 2026. Director and CEO James Arkoudis expressed satisfaction with the strong support and quality of investors, noting the funds provide vital financial flexibility for progressing important workstreams.
