Greenvale Raises $1.05M at 4.4c with Options to Fund Uranium Drilling
Greenvale Energy has raised approximately $1.05 million through a share placement to fund ongoing uranium exploration at its Oasis project, with a Security Purchase Plan also offered to shareholders.
- Placement raises $1.05 million at $0.044 per share with attaching options
- Funds directed to uranium exploration and growth across Northern Territory portfolio
- Trenching program underway at Oasis Uranium Project with results pending
- Security Purchase Plan offered to existing shareholders on same terms
- General Meeting planned to approve option issuance in December
Funding Boost for Uranium Exploration
Greenvale Energy Limited (ASX, GRV) has successfully secured firm commitments to raise approximately AUD 1.05 million through a share placement priced at 4.4 cents per share. This capital injection is earmarked to advance the company’s uranium-focused exploration activities, particularly at the Oasis Uranium Project in Queensland, where recent drilling and geophysical surveys have shown promising results.
The placement includes the issuance of free attaching unlisted options exercisable at 7 cents, expiring in November 2026, which adds a potential upside for investors if exploration success translates into share price appreciation. The company plans to hold a General Meeting by mid-December to approve the option issuance.
Exploration Momentum at Oasis
Greenvale’s ongoing trenching program at Oasis, initiated in late October, aims to test structural controls on uranium mineralisation identified through prior drilling and magnetic surveys. This cost-effective approach is designed to refine the understanding of subsurface structures, a critical step in defining high-confidence drilling targets for the next phase of exploration.
CEO Alex Cheeseman highlighted that the strengthened balance sheet will not only support continued fieldwork but also position Greenvale to evaluate additional growth and merger and acquisition opportunities within its Northern Territory uranium portfolio. The company anticipates releasing trenching results by the end of the calendar year, which could set the stage for an intensified drilling campaign.
Shareholder Participation and Growth Strategy
In a move to reward existing shareholders, Greenvale is offering a $500,000 Security Purchase Plan (SPP) on the same terms as the placement, allowing eligible shareholders to invest up to $30,000. This inclusive approach aims to maintain shareholder support while providing additional capital to fuel exploration and growth initiatives.
The company’s broader portfolio includes early-stage uranium projects in the Northern Territory and geothermal projects in Queensland, reflecting a strategic focus on sustainable, low-carbon energy resources. Greenvale’s commitment to exploration as a driver of long-term shareholder value remains clear as it navigates a uranium sector buoyed by strong industry tailwinds and growth forecasts.
Bottom Line?
Greenvale’s fresh capital and ongoing exploration efforts set the stage for potentially transformative results in uranium, but investors will watch closely for upcoming trenching data and shareholder uptake of the SPP.
Questions in the middle?
- Will the trenching results at Oasis confirm structural controls and lead to expanded drilling?
- How will the market respond to the dilution impact of the placement and attaching options?
- What new growth or M&A opportunities might Greenvale pursue with its strengthened balance sheet?
