Alice Queen (ASX:AQX) has upsized tranche two of its private placement, receiving an additional $280,000 from the placement announced in October 2025.
These additional binding commitments from unrelated investors follows on from a subscription of $510,894 by Gaga Resource Development at the end of January 2026.
Shares issued to Gaga Resource Development allow the stakeholder to maintain its 51% holding in Alice Queen, after being approved at a shareholder meeting in December 2025.
GBA Capital acted as the lead manager in this placement,
Alice Queen will issue shares at $0.004 each with every two shares accompanied by one free-attaching option, exercisable at $0.008 and to expire on 30 June 2028.
As reported by Mining.com.au, Alice Queen opened a placement to raise $1 million for a resource update at the Horn Island Project in Queensland and exploration costs at its Fijian assets.
Alice Queen is a gold and copper explorer focused on developing its Australian and Fijian projects.
Write to Maddison Elliott at Mining.com.au
Images: Alice Queen
