Aureka (ASX:AKA) is raising $3.6 million through a share placement to fund accelerated drilling at the Irvine Project within the Stawell Gold Corridor in Victoria.
The company will issue 25.79 million shares at $0.14 per share, representing an 11% discount to the 15-day volume weighted average price. Shares will be issued on or around 22 December 2025.
Alpine Capital will act as the lead manager to this placement, receiving 2.31 million options, exercisable at $0.28 over a three-year term.
Managing Director James Gurry says both long-term supporters and new investors share the company’s vision in creating lasting value across its portfolio of gold exploration projects.
“Such a strong equity placement at this stage of the year illustrates considerable confidence and recognises the significant support the company enjoys, and serves as an endorsement of the company’s strategy to ramp up drilling from one to two diamond drill rigs,” Gurry says.
The company will deploy a second drill rig at the Irvine Project to accelerate exploration activity.
Aureka is an Australian gold explorer focused on uncovering discoveries in Victoria.
Write to Maddison Elliott at Mining.com.au
Images: Aureka
