Alice Queen (ASX:AQX) has extended its partially underwritten non-renounceable pro rata entitlement offer to 12 June 2026.
The company says the decision to extend the closing date was made to facilitate eligible shareholders’ access to and participation in the rights issue, which entitles them to acquire one additional share for every three shares held at the record date of 11 May 2026.
New shares on offer will hold an issue price of $0.009 each. The entitlement offer is partially underwritten by GBA Capital.
As reported by Mining.com.au last month (1 May), the entitlement offer seeks to raise $5.77 million to fund activities at the Horn Island Project in Far North Queensland.
Funds will be used to further exploration at Horn Island, including diamond core drilling, progressing an updated resource estimate and Scoping Study, advancing the approvals process for a mining lease application, and providing general working capital.
Shareholder Gage Resource Development committed to take up its entitlement in full and to sub-underwrite a number of new shares from the shortfall on a priority basis. Gage will have a maximum of 51% of the post-rights issue shares.
The Horn Island Gold Project is an intrusive-related gold system located in the Torres Strait in Far North Queensland.
Alice Queen is a gold and copper explorer focused on developing mining opportunities in Australia and Fiji.
Write to Maddison Elliott at Mining.com.au
Images: Alice Queen
