Accelerate Resources Secures A$900k to Boost Balagundi Gold Exploration
Accelerate Resources has raised A$900,000 through a share placement to fund expanded drilling and geophysical surveys at its Balagundi Gold Project in Western Australia.
- Raised A$900k via placement at A$0.005 per share
- Cash position to reach approximately A$2.4 million post-placement
- Funds allocated to RC and Aircore drilling and geophysical surveys
- Exploration focused on Paris Gift trend and Fluffy Gorilla Prospect
- Additional drilling programs to commence early December 2025
Funding Boost for Balagundi Exploration
Accelerate Resources (ASX – AX8) has successfully raised A$900,000 through a placement of 180 million new shares priced at A$0.005 each. This capital injection is set to underpin ongoing exploration efforts at the Balagundi Gold Project, located in the prolific Eastern Goldfields region of Western Australia, approximately 15 kilometres from Kalgoorlie.
The placement was oversubscribed, reflecting strong support from both existing shareholders and new sophisticated investors. Following completion, Accelerate’s cash reserves are expected to rise to around A$2.4 million, providing a solid financial footing to advance its exploration agenda.
Targeted Exploration Activities
The funds will be primarily directed towards reverse circulation (RC) and Aircore drilling programs along the Paris Gift trend and adjacent structural targets within the Balagundi project area. Additionally, geophysical surveys are planned at the Fluffy Gorilla Prospect to refine drill targeting across key structural corridors.
Accelerate recently announced the commencement of a new Aircore drilling program of approximately 1,000 metres, with RC drilling to follow in early 2026. These programs aim to test extensions of historic high-grade gold mineralisation and identify new high-priority targets, potentially unlocking significant value for the company.
Strategic Positioning and Outlook
With an enterprise value of around A$2.2 million at the placement price, Accelerate is positioning itself to capitalise on the momentum generated by its exploration activities. CEO Luke Meter expressed satisfaction with the strong investor support, emphasizing that the funds will enable systematic and well-funded exploration across the project area.
Investors can expect a steady flow of news as drilling results come through in 2026, which will be critical in assessing the project’s potential to deliver a commercially viable gold resource. The company’s strategy to focus on both drilling and geophysics reflects a balanced approach to de-risking and advancing its assets.
Bottom Line?
Accelerate’s fresh capital positions it well to unlock Balagundi’s potential, but upcoming drill results will be the true test.
Questions in the middle?
- What initial assay results will reveal about the extent of high-grade mineralisation?
- How will the company balance exploration expenditure with shareholder returns?
- What are the longer-term development plans if drilling confirms significant resources?
