Australian Critical Minerals (ASX:ACM) is raising $3 million through a share placement to fund exploration across the company’s gold and silver portfolio of assets in Peru.
The company will issue 40 million shares at $0.075 per share over two tranches. The first tranche will comprise the issue of 26.67 million shares, which are expected to be issued in early February 2026.
Australian Critical will issue the remaining 13.31 million shares after obtaining shareholder approval at a general meeting in March 2026.
Sandton Capital Advisory is acting as the lead manager for this placement.
Upcoming exploration activities include a maiden drilling campaign at the Flint Gold-Silver Project in northern Peru, which will begin this quarter.
Executive Chairman Dean de Largie says the support from both existing and new investors reflects “growing confidence” in the company’s portfolio, including a potential discovery awaiting at Flint.
“Flint is located within one of the world’s major epithermal gold-silver belts and is surrounded by globally significant deposits, and with funding secured and permits in place, we are positioned to commence our maiden drill program this quarter,” de Largie says.
“Recently concluded NSAMT geophysics identified a series of resistive anomalies and an associated conductor that are well supported by surface mapping and geochemistry indicative of a high-sulphidation gold-silver system.
“The funds will enable Australian Critical Minerals to begin our maiden diamond drilling program. We have an initial four drillholes for 1,850m planned.”
Australian Critical Minerals is an exploration company with a portfolio of precious and base metals projects in Peru and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Australian Critical Minerals
