Aguia Resources (ASX:AGR) is aiming to raise up to $3 million from an offer of 75 million shares to advance drilling at its Santa Barbara Gold Project in Colombia.
The share purchase plan (SPP) is opening 30 May and allows eligible shareholders to apply for up to $30,000 worth of shares at $0.04 each, representing a 9% discount from the closing price on 23 May 2025.
The company will scale back applications if demand exceeds the maximum amount to be raised.
Funds will be used to accelerate a drilling program at its Santa Barbara Gold Project, as well as further develop the Tres Estrades Phosphate Project and for general capital.
Executive Chairman Warwick Grigor says the SPP offers non-section 708 investors an opportunity to increase their position at a reduced cost to recent stock market prices.
Meanwhile, Aguia recently received $193,000 for gold produced at its Santa Barbara Project, as reported by Mining.com.au.
Aguia Resources, which has a market capitalisation of $64.29 million, is an exploration company focusing on the development of gold, silver, and copper across its five wholly owned projects in Colombia and Brazil.
Write to Maddison Elliott at Mining.com.au
Images: Aguia Resources
