Amara Minerals (ASX:AM3) has completed its recently announced placement, raising $2.2 million to fund continued diamond drilling at the Lauriston and Apollo gold-antimony projects in Victoria.
The company will allot 440 million shares today at $0.005 each, representing a 25% premium to the last trading price, as well as an 8.5% premium to the 10-day volume weighted average price.
Through this placement, shareholder Nova Minerals (ASX:NVA) has increased its strategic investment by subscribing for an additional $500,000 commitment, as reported by Mining.com.au.
This investment follows the shareholder’s initial investment of $1 million in September 2025.
Amara Chairman Mena Habib and Managing Director Ian Holland also participated in this placement for $75,000 and $25,000, respectively.
Barclay Wells acted as the sole lead adviser for this placement.
Funds will be deployed to continue diamond drilling at the Lauriston and Apollo projects, as well as to assess new opportunities and for general working capital.
Amara Minerals is focused on advancing two ‘high-grade’ gold-antimony projects in Victoria’s gold belts.
Write to Maddison Elliott at Mining.com.au
Images: Amara Minerals
