Why Aguia Resources Cut Its SPP Price and Secured $4M for Growth
Aguia Resources Limited has reduced its Share Purchase Plan price to 3.6 cents and extended the closing date, while reporting promising initial drill results at its Santa Barbara gold project and securing a $4 million loan to kickstart phosphate production in Brazil.
- SPP subscription price cut from 4.0¢ to 3.6¢ with extended closing to June 27
- Positive visual confirmation of mineralised veins in first two Santa Barbara drill holes
- Pending assays expected to validate a high-grade gold resource potential
- A$4 million loan offer from Brazil’s Southern Development Bank for Tres Estradas phosphate project
- Phosphate production planned to start late 2025 at 100,000 tpa, aiming for 300,000 tpa by 2026
SPP Price Reduction and Extension
Aguia Resources Limited (ASX – AGR) has announced a strategic adjustment to its Share Purchase Plan (SPP), reducing the subscription price from 4.0 cents to 3.6 cents per share. This move aims to offer a more attractive discount relative to recent market prices, encouraging greater shareholder participation. To accommodate shareholders who had not yet received documentation or needed more time, the company extended the SPP closing date to 27 June 2025.
Encouraging Drill Results at Santa Barbara
In Colombia, Aguia’s Santa Barbara gold project has delivered promising early results from its initial two diamond drill holes, part of a 25-hole program. While assay results are still awaited, visual inspection confirmed the presence of mineralised quartz veins approximately 40 meters below existing workings. These findings support the company’s geological model and hint at a potentially significant high-grade gold resource. The exploration target remains valid, and further drilling and assay results are expected to shed more light on the project's potential.
Securing Financing for Brazilian Phosphate Project
On the financing front, Aguia has received a loan offer of A$4 million from Brazil’s Southern Development Bank (BRDE) to fund capital expenditure for its Tres Estradas phosphate mine and Pampafos processing facility in Rio Grande do Sul. This government-backed loan, with a 20-year term, is expected to fully cover the costs to commence production at an initial rate of 100,000 tonnes per annum by late 2025. The company also plans to scale production up to 300,000 tonnes per annum by the end of 2026, aiming to supply the local market and reduce regional phosphate imports.
Strategic Implications and Outlook
The combination of a more accessible SPP price, positive exploration progress, and secured financing underscores Aguia’s commitment to advancing its asset base and delivering shareholder value. The Santa Barbara drilling program, if assay results confirm expectations, could significantly enhance the company’s gold resource profile. Meanwhile, the phosphate project’s financing deal highlights strong governmental support and positions Aguia to capitalize on Brazil’s agricultural demand.
Investors will be watching closely as assay results and formal loan agreements materialize, with the potential for these developments to catalyse further growth and market interest.
Bottom Line?
Aguia’s recent moves set the stage for accelerated growth, but upcoming assay results and financing finalization will be key to sustaining momentum.
Questions in the middle?
- Will the pending assay results confirm a commercially viable high-grade gold resource at Santa Barbara?
- How will the reduced SPP price impact shareholder uptake and overall capital raised?
- What are the detailed terms and timing for finalizing the BRDE loan agreement and subsequent phosphate project expansion?
