Waratah Minerals Secures AU$30 Million to Accelerate Spur Gold-Copper Drilling

Highlights:

• Waratah Minerals Limited (ASX: WTM) secures AU$30 million via a premium-priced placement to accelerate drilling at the Spur Gold-Copper Project.
• Funds to support extensional drilling, metallurgical testing, target definition, and working capital, with three rigs already on-site.
• Placement structured in two tranches, with the second tranche subject to shareholder approval at an EGM in late September 2025.

Capital Raising to Fund Expansion

Waratah Minerals Limited (ASX: WTM) has announced it has successfully secured firm commitments to raise AU$30 million before costs through a share placement. At the time of writing, the placement will be executed at AU$0.575 per share, with approximately 52.2 million new fully paid ordinary shares to be issued to institutional, sophisticated, and professional investors.

Strong Institutional Support

The placement attracted robust demand from leading Australian and North American institutional investors, strengthening Waratah’s shareholder base. Bell Potter Securities Limited acted as the sole lead manager and bookrunner, while Morgans Financial Limited and Blue Ocean Equities Pty Limited served as co-managers.

Proceeds Target Exploration Acceleration

Funds raised will be primarily directed toward accelerating drilling activities at the Spur Gold-Copper Project. Specifically, proceeds will be used for extensional and resource drilling across the Spur Gold Corridor, metallurgical testing, further geochemical and geophysical target definition, working capital, and associated placement costs. Currently, three drill rigs are operating on-site, with a steady flow of exploration results expected throughout the remainder of the year.

Placement Structure and Premium Pricing

The capital raising will take place in two tranches:

• Tranche 1: Approximately AU$11.7 million to be issued under existing placement capacity (ASX Listing Rule 7.1A), with settlement anticipated on 20 August 2025 and allotment on 21 August 2025.
• Tranche 2: Approximately AU$18.3 million, subject to shareholder approval at an Extraordinary General Meeting scheduled for late September 2025.

The issue price represents a 7.1% premium to Waratah’s five-day VWAP of AU$0.537 and a 16.1% premium to its 30-day VWAP of A$0.495, underscoring investor confidence in the company’s exploration strategy.

Managing Director’s Perspective

Managing Director Peter Duerden said the placement validates Waratah’s growth strategy and will enable the company to fast-track its exploration activities at the Spur Gold-Copper Project.

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.

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