Highlights

• Shares climbed 6.67% to AU$0.960, reflecting continued market attention on the company’s Bullabulling development strategy.
• A AU$250 million placement has been secured to support development and construction of the 6.2Moz Bullabulling Gold Project.
• Combined funding of up to AU$633 million is expected to support project advancement ahead of a targeted Final Investment Decision in Q1 CY2027.

Minerals 260 Share Price Movement

Minerals 260 Limited (ASX: MI6) was trading at AU$0.960, up AU$0.059 or 6.67%. The share price movement comes as the company progresses funding and development activities at its flagship Bullabulling Gold Project in Western Australia.

AU$250 Million Placement Announced

In an announcement dated 16 September 2026, Minerals 260 reported firm commitments for a AU$250 million placement to institutional and sophisticated investors. The raising involves 284.09 million new fully paid ordinary shares priced at AU$0.88 each. The issue price represented no discount to the 11 September closing price and a 3.5% premium to the 10-day VWAP. The placement includes a AU$30 million cornerstone commitment from Franco-Nevada Corporation. Eligible shareholders will also have an opportunity to participate in a Share Purchase Plan targeting up to a further AU$30 million at the same issue price.

Bullabulling Funding Position

The new capital follows an additional AU$200 million funding package agreed with Franco-Nevada on 14 September 2026. Under the arrangement, AU$170 million is being provided in exchange for an additional 1.45% royalty over the project, while Franco-Nevada has also committed to participate in the equity raising. Assuming completion of the placement, SPP and royalty funding, Minerals 260 expects to have approximately AU$633 million available on a pro-forma basis, with no borrowings. The company estimates total pre-production capital requirements of AU$855 million, with the remaining funding expected through traditional project finance. Multiple non-binding indicative term sheets have already been received.

Outlook for Bullabulling

Bullabulling hosts a 6.2Moz Mineral Resource, comprising 190Mt at 1.0g/t gold. Earlier project studies outlined a 19-year operation with average production of approximately 150,000 ounces annually during the first 10 years. Minerals 260 is targeting a Final Investment Decision in Q1 CY2027, while first production is currently scheduled for Q4 CY2028.

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

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au