Highlights

• Minerals 260 climbed 5.23% to AU$0.905, placing it among the S&P/ASX 200’s top five gainers.
• Minerals 260 has lined up AU$250 million in fresh equity funding through a placement structured in two separate tranches.
• Bullabulling’s funding pathway is advancing, while the 2026 AGM is scheduled for 20 November.

Minerals 260 Rallies into ASX 200 Top Five

Minerals 260 Limited (ASX: MI6) emerged among the S&P/ASX 200’s top five gainers, with its shares climbing approximately 5.23% to a current market price of AU$0.905. The positive price movement puts renewed attention on the company following a series of corporate and funding developments linked to its flagship Bullabulling Gold Project in Western Australia. The rally comes as investors assess Minerals 260’s substantially strengthened funding position and the next stages of project development.

Latest Corporate Update Sets AGM Date

In its most recent announcement, released on 21 September 2026, Minerals 260 advised that its 2026 Annual General Meeting will be held on 20 November 2026. Additional information regarding the meeting will be distributed to shareholders through the formal AGM notice.

The company also set 5:00 pm AWST on 2 October 2026 as the deadline for director nominations, with submissions required at its registered office.

AU$250 Million Placement Bolsters Funding

The latest corporate update follows Minerals 260’s major financing announcement on 16 September 2026. Minerals 260 secured commitments to raise AU$250 million before costs by issuing 284,090,910 new shares at AU$0.88 each through two placement tranches. Franco-Nevada Corporation contributed a AU$30 million cornerstone commitment.

The AU$0.88 issue price was equal to Minerals 260’s closing price on 11 September and represented a 3.5% premium to the 10-day VWAP of AU$0.85. The company also proposed an SPP targeting up to another AU$30 million.

Bullabulling Funding Gap Narrows

Assuming completion of both placement tranches, receipt of AU$170 million in Franco-Nevada royalty funding and a fully subscribed SPP, Minerals 260 expects pro-forma cash of approximately AU$633 million. This compares with Bullabulling’s estimated AU$855 million pre-production capital requirement. The remaining requirement is expected to be addressed through project debt, with the company having received multiple indicative non-binding financing term sheets.

What Comes Next for ASX: MI6?

Attention now shifts from capital raising toward financing completion and project execution. Tranche 1 shares are scheduled to begin trading on 23 September 2026, while the SPP is expected to open on 28 September and close on 19 October. Shareholder consideration of Tranche 2 is scheduled for late October.

From an equity research perspective, the funding package materially improves Minerals 260’s capacity to advance Bullabulling without immediately relying entirely on debt. However, the investment narrative will increasingly depend on securing the remaining project finance, maintaining capital discipline and progressing development toward the planned Final Investment Decision in Q1 CY2027. With a 6.2-million-ounce resource base and substantially enhanced liquidity, upcoming financing and construction milestones should remain central to market attention.

Note- All data presented is based on information available at the time of writing.

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