Lanthanein Resources Targets $2.4M Capital Raise with 30:1 Share Consolidation

Capital Raise to Fuel Exploration and Growth

Lanthanein Resources Limited (ASX, LNR) has announced a two-pronged capital raising initiative designed to bolster its exploration efforts and position the company for future growth. The company will first undertake a placement to raise approximately $275,000 by issuing 366.5 million shares at a modest price of $0.00075 each. This initial tranche is aimed primarily at funding exploration activities at the Lyons and Edmund Projects in Western Australia's Gascoyne region, alongside general working capital needs and potential acquisitions.

Following the placement, Lanthanein will launch a fully underwritten, non-renounceable pro-rata rights issue to raise up to $2.1 million. Eligible shareholders will have the opportunity to subscribe to new shares at an effective price of $0.00075 per share, supported by a free-attaching share incentive. The rights issue is underwritten by Inyati Capital Pty Ltd, which also acted as lead manager for the placement, ensuring full subscription and providing a safety net for the company’s fundraising ambitions.

Strategic Rebranding and Capital Structure Overhaul

In a move signaling a fresh corporate identity and strategic direction, Lanthanein proposes to change its name to Fortuna Metals Ltd, subject to shareholder approval. This rebranding effort is coupled with a significant share consolidation at a ratio of 30, 1, intended to streamline the company’s capital structure and enhance its appeal to investors. The consolidation will reduce the total number of shares on issue, potentially improving liquidity and market perception.

The company also plans to change its ASX ticker from 'LNR' to 'FUN' to align with the new name. Alongside these changes, Lanthanein intends to issue options to brokers, underwriters, and directors, subject to shareholder approval, as part of its incentive and capital management strategy.

Governance and Upcoming Shareholder Decisions

A general meeting is scheduled for July 2025 to seek shareholder approval for the proposed name change, share consolidation, and the issuance of options to key stakeholders. The timetable for the placement, entitlement offer, and consolidation spans from June through August 2025, with key dates including the record date for the entitlement offer on 20 June and the general meeting on 24 July.

Notably, Non-Executive Chairman Peter Pawlowitsch has committed to sub-underwrite part of the entitlement offer, demonstrating board confidence in the capital raising and strategic initiatives underway.

Looking Ahead

With fresh capital secured and a clear plan to refine its corporate identity and capital structure, Lanthanein Resources is positioning itself for the next phase of growth. The success of these initiatives will depend on shareholder support and market reception, as well as the company’s ability to advance its exploration projects and identify value-accretive opportunities.