G11 Raises A$7.5M at A$0.025 per Share to Fund Key Projects
G11 Resources has raised A$7.5 million through a two-tranche placement to fund exploration at its copper and gold projects in Tasmania and New South Wales, positioning the company for potential major discoveries.
- Two-tranche placement raises approximately A$7.5 million
- Placement price set at A$0.025 per share, a discount to recent trading prices
- Funds earmarked for Sedgewick Bluff Copper Project and NSW gold/copper targets
- 1-for-10 share consolidation underway to streamline capital structure
- Conditional tranche subject to shareholder approval at early January EGM
Capital Raising to Fuel Exploration Ambitions
G11 Resources Limited has successfully secured approximately A$7.5 million through a carefully structured two-tranche placement, issuing around 300 million new shares at a price of A$0.025 each. This capital injection comes at a slight discount to the company’s recent trading prices, reflecting a strategic move to attract institutional and sophisticated investors eager to back G11’s copper and gold exploration projects.
The funds raised will be pivotal in advancing exploration activities at the Sedgewick Bluff Copper Project in Tasmania, alongside promising copper and gold targets in New South Wales, including Packsaddle, Wilandra, and NW Cobar. These projects are central to G11’s goal of identifying Tier 1 mineral deposits with global significance.
Placement Structure and Shareholder Engagement
The placement comprises an unconditional tranche raising approximately A$4.3 million and a conditional tranche of about A$3.2 million, which awaits shareholder approval at an Extraordinary General Meeting scheduled for early January 2026. The company is concurrently executing a 1-for-10 share consolidation, a move designed to simplify its capital structure and potentially enhance share price stability.
Executive Chairman Martin Donohue expressed optimism about the placement, highlighting the strong support from new institutional shareholders. He emphasized that the capital will provide a solid foundation for systematic exploration and drilling, with plans to commence drilling once all necessary approvals are secured.
Market Implications and Next Steps
Canaccord Genuity (Australia) acted as lead manager and bookrunner for the placement, underscoring the transaction’s credibility. The successful raise not only bolsters G11’s financial position but also signals investor confidence in the company’s exploration strategy and project potential.
Investors will be watching closely for the outcome of the upcoming shareholder vote on the conditional tranche and the progress of exploration activities. The company’s ability to translate this capital into tangible exploration results will be critical in shaping its market trajectory.
Bottom Line?
G11’s fresh capital positions it to unlock value from its copper and gold assets, but the real test lies ahead in exploration success and shareholder endorsement.
Questions in the middle?
- Will shareholder approval be secured for the conditional tranche in early January?
- When will drilling commence at the Sedgewick Bluff and NSW projects following approvals?
- How will the 1-for-10 share consolidation impact market liquidity and investor sentiment?
