Riedel Resources Launches $1.3 million Capital Raise to Fund Kingman Gold Project

Highlights:

• Riedel Resources (ASX: RIE) to raise up to $1.3 million through a two-tranche placement and a Share Purchase Plan to fund its Kingman Gold Project in Arizona.
• Placement priced at $0.025 per share, with Tranche 1 raising $347,000 under existing capacity and Tranche 2 aiming for $653,000 pending shareholder approval.
• Share Purchase Plan offers up to $300,000, giving eligible shareholders in Australia, New Zealand, and the UK a chance to participate on the same terms.

Riedel Resources (ASX: RIE) to raise up to $1.3 million through a two-tranche placement and a Share Purchase Plan to fund its Kingman Gold Project in Arizona. Placement priced at $0.025 per share, with Tranche 1 raising $347,000 under existing capacity and Tranche 2 aiming for $653,000 pending shareholder approval. Share Purchase Plan offers up to $300,000, giving eligible shareholders in Australia, New Zealand, and the UK a chance to participate on the same terms.

Placement and SPP to Support Arizona-Based Exploration

At the time of writing, Riedel Resources Limited (ASX: RIE) has unveiled a capital raise of up to $1.3 million to fund exploration and development work at its high-grade Kingman Gold Project in Arizona, USA. The raise includes a two-tranche placement of new shares worth approximately $1 million before costs, along with a Share Purchase Plan (SPP) targeting up to an additional $300,000.

Two-Tranche Placement to Raise $1 Million

The capital raise will be split into two tranches:

• Tranche 1, raising approximately $347,000, will utilise the Company’s existing capacity under ASX Listing Rules 7.1 and 7.1A.
• Tranche 2, subject to shareholder approval, is expected to raise around $653,000.

Both tranches are priced at $0.025 per share, representing a 7.4% discount to the last closing price of $0.027 on 17 June 2025. 708 Capital Pty Ltd is acting as the sole lead manager, with broker fees and options to be issued upon shareholder approval.

SPP Offers Additional Participation to Shareholders

In addition to the placement, Riedel is offering an SPP to eligible shareholders in Australia, New Zealand, and the UK, allowing them to apply for up to $30,000 worth of shares at the same price. The SPP opens on 27 June 2025 and is scheduled to close on 18 July 2025.

Funds to Fuel Kingman Exploration

Proceeds from the capital raise will be directed toward further exploration and feasibility work at the Kingman Project, particularly at the Tintic deposit, as well as for general working capital needs. The company also plans to convert $665,000 in Convertible Notes into shares, pending shareholder approval.

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