Lincoln Minerals Raises $2.25M Through Entitlement Issue and Placement

Strong Capital Raising Reflects Investor Confidence

Lincoln Minerals Ltd (ASX – LML) has successfully closed a $1.5 million renounceable entitlement issue, buoyed by robust demand from both existing and new shareholders. To accommodate excess interest, the company also secured a $750,000 follow-on placement on identical terms, bringing total funds raised to $2.25 million before costs. This capital injection underscores investor confidence in Lincoln’s strategic positioning within the critical minerals sector.

Funding to Propel Exploration and Development

The freshly raised capital will be directed towards advancing Lincoln’s diversified portfolio of critical minerals projects in South Australia’s Gawler Craton. Key among these is the drill-ready Minbrie Copper & Base Metals Project, which stands to benefit from imminent drilling programs. Concurrently, metallurgical studies and downstream test work will continue at the Kookaburra Graphite Project, while partnering initiatives progress at the Green Iron Magnetite Project. The company also maintains active fieldwork across its uranium tenements, reflecting a broad-based approach to resource development.

Significant Share and Option Issuance

In total, Lincoln will issue approximately 450.4 million new fully paid ordinary shares alongside 225.2 million new options exercisable at $0.01, with an expiry date of 31 December 2027. These options will be listed under the ASX code LMLO, providing investors with additional leverage on the company’s future prospects. The securities issued under the follow-on placement utilize the company’s existing placement capacity, ensuring a streamlined process.

Strategic Positioning in Critical Minerals

Lincoln Minerals is strategically focused on critical minerals essential to the global transition towards electrification and decarbonisation. Its portfolio spans copper, graphite, magnetite, and uranium assets, all situated in a region renowned for mineral potential. The recent capital raise not only strengthens Lincoln’s balance sheet but also enhances its capacity to deliver on exploration milestones and attract potential strategic partners.

Looking Ahead

With Mahe Capital acting as lead manager and underwriter, Lincoln is well-positioned to execute its exploration and development plans. The company anticipates issuing the new securities imminently, setting the stage for an active period of project advancement. Investors will be watching closely for drilling results and progress updates that could validate the company’s growth trajectory.