BPM Raises A$3.5M at A$0.15 Per Share to Fund Forelands Exploration
BPM Minerals has raised A$3.5 million through a placement to fund expanded drilling and exploration at its high-grade Forelands Gold Project in Western Australia. The capital injection positions the company to rapidly advance its maiden resource definition efforts.
- A$3.5 million placement at A$0.15 per share secured
- Funds to accelerate RC and aircore drilling at Forelands, focusing on Beachcomber prospect
- Placement supported by new and existing sophisticated and institutional investors
- Heritage approvals in place, enabling immediate exploration activities
- Forelands project features multiple high-grade gold targets with strong regional potential
Strategic Capital Raise to Unlock Gold Potential
BPM Minerals Limited (ASX – BPM) has successfully completed a A$3.5 million placement, issuing approximately 23.3 million new shares at A$0.15 each. This capital raise, supported by a mix of new and existing professional and institutional investors, is designed to fund an accelerated exploration campaign at the company’s recently acquired Forelands Gold Project in Western Australia.
The placement price represents a modest premium to the 30-day volume weighted average price, reflecting investor confidence in BPM’s strategy and the project’s potential. Settlement and allotment of shares are scheduled for early December 2025, positioning BPM to move swiftly into its next phase of exploration.
Focused Exploration at Forelands
Forelands is a district-scale gold project spanning approximately 630 square kilometres along a major structural corridor known for hosting significant mineralisation. The project’s strategic location, about 150 kilometres east of Kalgoorlie and near multiple operating mills, offers logistical advantages for potential future development.
BPM plans to deploy the new funds primarily to expand and accelerate reverse circulation (RC) and aircore drilling programs, with an initial 3,000-metre RC drill program set to commence imminently at the Beachcomber prospect. This area has already yielded impressive historical high-grade gold intercepts, including assays exceeding 65 grams per tonne over short intervals.
Alongside drilling, BPM will undertake geochemical surveys across several key prospects within the broader Forelands tenure, aiming to refine targets and uncover additional mineralised zones. The company benefits from a strong technical team, including recent additions who bring a proven track record of discovery in the region.
Heritage and Approvals in Place
Importantly, BPM has secured a Heritage Agreement with the traditional owners and obtained the necessary permits for drilling activities at Beachcomber. This ensures exploration can proceed without delay, a critical factor in maintaining momentum and meeting the company’s aggressive timeline for assay results expected in early 2026.
CEO Oliver Judd expressed enthusiasm about the placement and upcoming work, highlighting the company’s readiness to unlock the district-scale potential of Forelands. The injection of capital and the strong backing from sophisticated investors underscore market confidence in BPM’s approach and the project’s prospects.
Looking Ahead
With drilling underway and a clear exploration roadmap, BPM Minerals is poised to deliver meaningful news flow in the coming months. The company’s ability to convert historical high-grade intercepts into a maiden JORC-compliant resource will be a key catalyst for investor interest and valuation uplift.
Bottom Line?
BPM’s fresh capital and rapid exploration push set the stage for a pivotal phase at Forelands, with early 2026 assay results eagerly awaited.
Questions in the middle?
- Will the upcoming drilling at Beachcomber confirm and expand on historical high-grade gold intercepts?
- How quickly can BPM define a maiden resource and what scale might it achieve?
- What impact will exploration success at Forelands have on BPM’s share price and funding options?
