Power Minerals Raises $1.3M to Fast-Track Niobium Exploration at Santa Anna

Capital Raise to Advance Exploration

Power Minerals Limited (ASX: PNN) has successfully secured firm commitments to raise $1.3 million through a placement of 21.67 million new shares priced at $0.06 each. This capital injection is designed to accelerate exploration and due diligence activities at the Santa Anna Niobium Carbonatite Project located in Goiás State, Brazil. The placement includes free attaching options exercisable at $0.10, expiring in December 2029, offering investors additional upside potential.

The placement was jointly managed by GBA Capital and Copeak, reflecting strong market support for Power Minerals’ strategic focus on critical minerals. Notably, the company’s Managing Director, Mena Habib, has committed $25,000 to the placement, signaling management’s confidence in the project’s prospects.

Strategic Investment and Project Potential

Complementing the placement, Power Minerals has received a US$300,000 strategic investment from Shanghai-based Golden Worldwide Holdings Limited, an institutional fund with a focus on South American critical minerals. This investment underpins the company’s option to acquire the Santa Anna Project, a high-grade niobium carbonatite asset with existing exploration permits and a substantial drilling database.

Previous drilling at Santa Anna has returned promising niobium grades, including intercepts such as 14 meters at 0.71% Nb2O5 and 9 meters at 1.08% Nb2O5, alongside indications of rare earth element mineralisation. These results highlight the project’s potential to contribute meaningfully to the supply of critical minerals, which are increasingly vital for advanced technologies and green energy applications.

Planned Exploration and Shareholder Engagement

Funds from the placement will primarily support initial drilling aimed at confirming an Exploration Target under the 2012 JORC Code, with subsequent drilling planned to delineate a maiden JORC-compliant Mineral Resource Estimate. The company also intends to undertake further targeted fieldwork and cover general working capital needs.

Part of the placement and the issuance of free attaching options are subject to shareholder approval at a general meeting expected in June 2025. This step introduces some timing uncertainty but also offers shareholders a direct say in the company’s capital structure and growth strategy.

Market Implications and Forward Outlook

Power Minerals’ successful capital raise and strategic partnership position it well to advance the Santa Anna Project through critical early-stage exploration. The involvement of Golden Worldwide Holdings adds credibility and potential access to broader markets focused on critical minerals. However, as with all exploration ventures, outcomes remain subject to drilling results and regulatory approvals.

Investors will be watching closely for updates from the upcoming drilling campaign and the shareholder meeting outcomes, which will set the tone for the company’s next phase of development.