Alma Metals (ASX:ALM) is raising up to $1.06 million to complete a Scoping Study and begin drilling at its Briggs Copper Project in Queensland.
A pro-rata non-renounceable rights offer will delegate up to 264.39 million shares at a price of $0.004, with one share available for every six shares held.
Offer documents will be lodged and mailed out to eligible shareholders on 3 June 2025, with a minimum subscription target of $500,000.
The company believes its Briggs Copper Project has “significant” potential for expansion, as the current estimation indicates 2 million tonnes of contained copper.
Briggs is located just 60km from Gladstone in Queensland, which Alma says allows for substantial operational efficiencies between high-voltage power lines, heavy haulage railway, and multiple gas pipelines.
Alma Metals is a copper exploration company, hoping to aid the global shift towards clean energy with its projects across Queensland and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Alma Metals
