Yari Raises $1.5M at $0.01 per Share to Fund South Rolleston Drilling
Yari Minerals has raised $1.5 million through a share placement to fund its first drilling campaign at the South Rolleston Coal Project, aiming to upgrade its coal resource classification and confirm metallurgical quality.
- Placement raised $1.5 million at $0.01 per share
- Copulos Group committed $500,000 as cornerstone investor
- Funds to support inaugural drilling at South Rolleston Coal Project
- Targeting upgrade of 190Mt JORC Inferred Resource to Indicated status
- Regulatory approvals pending to commence drilling shortly
Capital Raise to Propel Drilling Campaign
Yari Minerals Limited (ASX – YAR) has successfully secured firm commitments for a $1.5 million placement, issuing 150 million new shares at an offer price of one cent each. The placement attracted strong backing from sophisticated and institutional investors, notably including a $500,000 cornerstone subscription from the Copulos Group. This capital injection is earmarked to fund the company’s inaugural drilling campaign at its South Rolleston Coal Project, located in Queensland’s prolific Bowen Basin.
Advancing Resource Classification and Quality Confirmation
The South Rolleston Coal Project currently holds a JORC Inferred Mineral Resource of approximately 190 million tonnes of high-quality thermal coal. Yari’s drilling program aims to upgrade this resource to Indicated status, a crucial step that can enhance the project’s valuation and attractiveness to potential partners or financiers. Additionally, the campaign will focus on confirming the presence of semi-soft metallurgical coal through detailed test work, which could open pathways to higher-value markets.
Strategic Location and Infrastructure Advantages
Situated just 20 kilometres south of Rolleston, the project benefits from excellent infrastructure, including proximity to a state highway and the Blackwater Rail system, facilitating efficient transport to export ports. This logistical advantage positions Yari well to capitalise on any upgraded resource status and metallurgical coal confirmation, potentially accelerating development timelines.
Regulatory Approvals and Next Steps
While the company awaits final regulatory approvals to commence drilling, the timetable anticipates settlement of the placement by 22 September 2025, with trading resumed on 15 September. CPS Capital Group acted as Lead Manager for the placement, underscoring the transaction’s professional execution. Yari’s Managing Director, Anthony Italiano, expressed confidence that the drilling insights will significantly enhance shareholder value and provide a clearer pathway for the project’s advancement.
Broader Portfolio and Market Context
Beyond South Rolleston, Yari also holds 100% interests in exploration licences in the Pilbara region of Western Australia, although the current focus remains firmly on unlocking the Bowen Basin’s potential. The company’s strategy reflects a measured approach to resource development, balancing capital raising with targeted exploration to de-risk and add value.
Bottom Line?
Yari’s $1.5 million raise sets the stage for a pivotal drilling campaign that could redefine the South Rolleston project’s market standing.
Questions in the middle?
- When exactly will regulatory approvals be granted to start drilling?
- What are the expected timelines for receiving and interpreting drilling results?
- How might an upgrade to Indicated Resource status impact Yari’s valuation and financing options?
