Podium Minerals Raises AU$7 Million in Oversubscribed Entitlement Offer

Podium Minerals Limited (ASX: POD) has successfully raised AU$7.0 million through a fully underwritten, pro-rata non-renounceable Entitlement Offer, which closed oversubscribed with total applications amounting to AU$9.9 million. The raise forms part of a broader AU$12 million equity program, including a recent AU$5 million placement. Following completion, the company holds approximately AU$13.2 million in cash, providing robust financial capacity to advance the Parks Reef PGM Project.

The funds will support upcoming metallurgical sample drilling in November 2025 and deeper target drilling to test resource continuity, while progressing large-scale metallurgical test work for its Concentrator flowsheet. Executive Chairman Rod Baxter expressed appreciation to shareholders and partners for their support, noting that the strengthened balance sheet and recent appointment of Gary Humphries as Head of Processing position Podium strongly for the next phase of project development and growth of Australia’s premier PGM project.

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