ASX-listed Aguia (ASX:AGR) has received binding commitments to raise $5 million to prepare the Três Estradas Phosphate Project in southern Brazil for production in the next three months.
Alpine Capital acted as sole lead manager and bookrunner to the equity raise.
Capital raised from the placement will also be deployed to advance the exploration and development of the Santa Barbara project in Colombia, among other uses.
The Santa Barbara Gold Project is a ‘high-grade’, underground gold operation in Colombia’s Serranía de San Lucas belt, historically worked on mesothermal quartz veins with grades approaching one ounce per tonne.
Underground development on the Santa Barbara and Mariana vein systems is ongoing.
A total of 250 million shares will be issued at $0.020 each. Settlement of the placement is expected to occur on 10 February 2026.
CEO Tim Hosking says the funds give Aguia the necessary financial flexibility to add considerable value to its gold project in Colombia and phosphate projects in Brazil.
“The next three to four months will be pivotal for the company, with some transformational milestones materialising that we are confident will deliver considerable value for shareholders,” the CEO says.
The company says recent drilling, channel sampling and early production runs have confirmed strong continuity of ‘high-grade’ mineralisation, underpinning plans for resource estimation and providing cash flow to help fund Aguia’s broader South American project pipeline.
Meanwhile, Aguia is shaping up as one of the more pragmatic phosphate stories in global mining, with a strategy centred on low-cost production, market positioning in Brazil’s agricultural heartland, and a fast-tracked development path that points toward first production in early 2026, as reported.
The organic phosphate project centres on the Três Estradas deposit in Rio Grande do Sul, which hosts a 105 million tonne phosphate resource and will produce Aguia’s natural fertiliser product, Pampafos for local farmers.
Aguia plans to truck ore to its leased Dagoberto Barcelos processing plant, initially targeting around 150,000 to 160,000 tonnes per annum of organic phosphate product and expanding towards 300,000 tonnes per annum by the end of 2026, as reported by Mining.com.au.
Expanded production will come from locations about 10km from the plant. A 10-year (extendable) lease over the DB plant allows Aguia to avoid major greenfield capex, cut its time to market by several years, and ultimately target processing capacity of more than 300,000 tonnes per annum through incremental upgrades.
Aguia is an ASX-listed multi-commodity company with pre-production phosphate projects located in Rio Grande do Sul (Brazil) and gold projects in Bolivar (Colombia).
It has established highly experienced in-country teams based in Porto Alegre, the capital of Rio Grande do Sul (Brazil) and in Medellin (Colombia). The acquisition of Andean Mining has added a portfolio of gold, silver and copper projects to its asset base.
Write to Adam Orlando at Mining.com.au
Images: Aguia
