Krakatoa Raises AU$3.1 million to Drive Zopkhito Drilling

Krakatoa Resources Limited (ASX: KTA) has secured firm commitments to raise AU$3.1 million through a two-tranche placement. The placement, priced at AU$0.0105 per share, includes one free option (exercisable at AU$0.02 until September 2028) for every two shares subscribed. Proceeds will fund the ongoing 7,000–10,000m maiden drilling program at the Zopkhito Antimony-Gold Project in Georgia, where two rigs are currently operating.

The program aims to convert a foreign resource estimate of 225Kt at 11.6% Sb and 7.1Mt at 3.7g/t Au into a JORC-compliant Mineral Resource. Additional in-adit drilling and preliminary economic assessment work are also planned. The capital raise, representing about 38% of Krakatoa’s issued shares, ensures strong funding support for exploration while aligning with the company’s goal of establishing Zopkhito as a significant antimony-gold project.

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