Ballymore Resources Launches $4.5 Million Capital Raise to Accelerate Exploration Projects

Highlights:

• Ballymore Resources Limited (ASX: BMR) has secured firm commitments to raise $4.5 million via a placement, issuing approximately 30.1 million new shares at $0.15 per share with one free attaching option for every four shares subscribed.
• Funds will be used to accelerate exploration and development at the Dittmer gold project, as well as advance drilling and fieldwork across Ballymore’s Ruddygore, Ravenswood, and Mount Molloy projects.
• The placement was strongly supported by existing and new investors, with the share issuance (excluding director participation) expected to occur on August 13, 2025.

Ballymore Resources Limited (ASX: BMR) has announced it has secured firm commitments for a $4.5 million capital raising via a placement, aimed at accelerating development across its portfolio of North Queensland mining projects. The placement will involve the issuance of approximately 30.1 million new fully paid ordinary shares at $0.15 per share, alongside one free attaching option for every four shares subscribed.

Strong Investor Support for Placement

The capital raising, led by Cygnet Capital, was well-received by both existing shareholders and new institutional investors. The offer price represents an 11.8% discount to Ballymore’s last closing price on July 31, 2025, and a 12.2% discount to the company’s 20-day volume-weighted average price. In total, Ballymore will issue nearly 39.9 million new securities, with director participation subject to shareholder approval. At the time of writing, the placement shares and options (excluding director allocations) are scheduled for issuance on August 13, 2025.

Proceeds to Fund Dittmer Gold Project and Broader Exploration

Proceeds from the placement will primarily be used to develop an exploration drive and expand drilling at Ballymore’s flagship Dittmer gold project. Additional funds will support fieldwork across the company’s Ruddygore, Ravenswood, and Mount Molloy projects, targeting high-priority copper and gold prospects. Chairman Andrew Greville expressed confidence in Ballymore’s focused strategy, stating, “This funding allows us to advance key projects and aggressively pursue exploration targets showing significant potential.” Managing Director David A-Izzeddin added that the capital raise will enable step-out drilling and resource expansion at Dittmer, while accelerating exploration across other tenements.

Strategic Funding to Drive Project Growth

With this capital injection, Ballymore aims to sustain its ground-focused approach, ensuring resources are directed towards drilling and development to unlock further shareholder value.

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