Australian Rare Earths (ASX:AR3) is raising $6 million through a share placement to fund the completion of a Prefeasibility Study at the Koppamurra Project in South Australia.
The company will issue 32.6 million shares at $0.185 per share, representing a 11.9% discount to the last closing price.
Shareholders will be eligible for one for two free-attaching options in this placement. Options will be exercisable at $0.28 per share, representing a 50% premium to the offer price. Options will expire in three years from the date of issue.
Canaccord Guinity acted as the sole lead manager and bookrunner in this placement, which was co-led by Evolution Capital.
Along with the completion of a Prefeasibility Study at the Koppamurra Project, funds will be used to operate Koppamurra’s pilot plant at the ANSTO facility, advance regulatory approvals for the project, and continue exploration at the company’s South Australia and Queensland assets.
Australian Rare Earths is a critical minerals explorer, intending to meet the growing demand for uranium and rare earth elements through its wholly owned Koppamurra Project and Queensland assets.
The company is attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.
Mining.com.au is a media partner for the conference.
Write to Maddison Elliott at Mining.com.au
Images: Australian Rare Earths
