Rapid Raises $10.5M, Acquires Major NSW Silver Projects, and Boosts Land Holdings 26x

Corporate Transformation and Leadership Change

Rapid Critical Metals Limited (ASX, RCM) has marked a pivotal quarter ending June 30, 2025, with significant corporate developments that signal its strategic shift towards critical metals and silver exploration. The company appointed Byron Miles as Managing Director following shareholder approval, entrusting him with steering Rapid through its next growth phase. Miles brings over 18 years of financial market experience, specialising in mergers and acquisitions across commodities, which aligns with Rapid’s aggressive acquisition strategy.

Alongside this leadership change, the company successfully completed a $10.5 million capital raising, primarily to fund the acquisition of two key silver projects in New South Wales, the Conrad and Webbs Silver Projects. This capital injection was well supported by both existing and new institutional investors, underscoring confidence in Rapid’s evolving portfolio and strategy.

Strategic Asset Acquisitions and Expansion

The acquisition of the Conrad and Webbs Silver Projects in the New England Fold Belt represents a major step for Rapid, positioning it strongly in a prolific silver region. Notably, the company expanded its land holding adjacent to the Webbs Silver Project by a staggering 26 times, securing a critical silver corridor between Rapid and ASX-listed Lode Resources Limited. This expansion could unlock significant exploration potential along a highly prospective geological trend.

In Canada, Rapid completed the acquisition of the Prophet River Gallium-Germanium Project in British Columbia, a site known for exceptionally high-grade germanium values, a metal of strategic importance given its applications in technology sectors and recent export restrictions by China. The company has received government approval to conduct geophysical surveys and plans to commence on-site geological reconnaissance and mapping shortly, aiming to refine drill targets for 2026.

Portfolio Rationalisation and Market Positioning

Rapid also entered into a sale agreement for its Tin Mountain property in South Dakota, USA, with ASX-listed Iris Metals Limited. The deal includes a mix of cash, shares, and a royalty on future production, reflecting a strategic divestment to focus resources on higher-priority assets. Meanwhile, lithium projects in the USA remain under evaluation, with the company monitoring market conditions to determine optimal development timing.

Elsewhere, Rapid holds a 50% interest in the Bend Nickel Project in Zimbabwe, though activity there was subdued this quarter due to corporate focus elsewhere. The company is also winding down its Gabon operations following an AUD$11.5 million impairment, signaling a clear prioritisation of its core assets.

Financial Overview and Outlook

Financially, Rapid reported net cash outflows from operating and investing activities, with a closing cash balance of $142,000 at quarter-end. Convertible notes remain on issue, providing some financial flexibility. The recent capital raising and share consolidation have reshaped the company’s capital structure, with nearly 639 million ordinary shares now on issue post-consolidation.

Shareholder meetings during the quarter approved key corporate actions including the capital raising, acquisitions, auditor change, and share consolidation, reflecting strong governance and shareholder alignment with the company’s strategic direction.