Black Canyon Raises AU$10 million to Advance Wandanya Manganese and Iron Discovery.

Black Canyon Limited (ASX: BCA) has successfully secured AU$10 million through a share placement, issuing 23.8 million new shares at AU$0.42 each. The placement received strong backing from major institutional investors, including Nero Resource Fund, Lowell Resources, and Perennial Natural Resources, along with new institutional participants and family offices. Following the raise, the company will hold AU$12 million in cash, positioning it to accelerate exploration and development activities.

The funds will primarily support reverse circulation and diamond drilling at the Wandanya project, metallurgical testwork, feasibility studies, and broader exploration across its extensive manganese portfolio. Upcoming catalysts include assay results from recent drilling programs, diamond core sampling for testwork, and heritage surveys to expand exploration access. With a global resource of 314Mt at 10.4% Mn already defined, the Wandanya discovery offers strong potential as a new high-grade manganese and iron opportunity, reinforcing Black Canyon’s growth strategy in Western Australia.

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