Genmin Secures Strong Backing for AU$25.7 Million Capital Raise

Genmin Limited (ASX: GEN) has received firm commitments to raise AU$25.7 million through a two-tranche placement priced at AU$0.01 per share, attracting strong participation from institutional and sophisticated investors. Directors Greg Lilleyman and John Hodder will convert AU$8.3 million in loans to equity (subject to shareholder approval), signalling deep Board confidence in the company’s flagship Baniaka Iron Ore Project.

Tranche 1 will raise AU$1.32 million, while Tranche 2, pending approval at the 16 December 2025 EGM, will raise up to AU$24.4 million and issue more than 1.29 billion attaching options. Additional broker options will be issued to Canaccord and Foster Stockbroking as joint lead managers.

Funds will advance Baniaka toward a final investment decision, complete pre-feasibility addendum work, settle creditors, and support general working capital. The raise positions Genmin to progress construction readiness as it targets late-2026 first production.

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