Askari Metals Launches AU$1.5 Million Rights Issue to Fund Nejo Gold-Copper Drilling in Ethiopia.

Askari Metals Limited (ASX: AS2) has announced a non-renounceable entitlement offer on a 1-for-3 basis to raise up to AU$1.5 million. The offer is attractively priced at AU$0.01 per share and includes two free attaching options: one unlisted option at AU$0.015 expiring three years from issue, and one listed AS2OB option at AU$0.022 expiring on 31 December 2028. Executive Director Gino D’Anna has confirmed his commitment to take up his full entitlement, reinforcing strong alignment with shareholders.

Funds raised will primarily support the Company’s Nejo Gold and Copper Project in Ethiopia, where maiden drilling of around 3,000m will target the Guji, Komto 1, and Komto 2 prospects. Situated on the Arabian-Nubian Shield, Nejo spans 1,174km² and offers district-scale potential with both gold and copper mineralisation. Proceeds will also strengthen Askari’s balance sheet and advance its broader African exploration portfolio, including projects in the Adola Greenstone Belt and Namibia.

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