Ballymore Resources (ASX:BMR) has increased its placement to $2 million from the originally announced $1.5 million, following a recently completed entitlement offer.
The placement brings Ballymore’s total funds raised to $5.2 million, following a recently completed $3.2 million entitlement offer.
Funding will be used to accelerate drilling campaigns across the company’s key assets, including Dittmer, Ruddygore/Torpy’s, Ravenswood, and Mount Molloy.
The entitlement offer issued shares at $0.125 each, with shareholders receiving one free attaching option for every two new shares subscribed.
New options are exercisable at $0.22 each and expire on 31 December 2028.
The placement carries the same terms as the entitlement offer.
The additional $500,000 under the placement is expected to settle on 2 July 2026, with shares and options to be issued on 3 July.
Cygnet Capital is acting as the lead manager for both offerings.
Ballymore Resources holds a portfolio of exploration and development projects in Queensland spanning both gold and base metals.
Write to Maddison Elliott at Mining.com.au
Images: Ballymore Resources
