Belararox (ASX:BRX) has completed a $8.5 million capital raise in order to fund accelerated exploration at its TMT Project in Argentina, after obtaining approval from shareholders regarding tranche two.
The company conducted the two tranche placement in September 2025 and was awaiting a general meeting to approve the issuance of second tranche shares.
The placement issued 94.44 million shares at an issue price of $0.09 per share, offering one free-attaching option per every two shares subscribed in this placement. Options are exercisable at $0.15 each on or before three years from the issue date.
The share issue price represents a 15% discount to Belararox’s closing price on 10 September, as well as a 17% discount to the company’s 14-day volume weighted average price at this time.
Pamplona Capital acted as the lead manager to this placement.
The company began diamond drilling at the Toro Central prospect in December 2025, targeting a broad, near-surface epithermal system defined by a strong, continuous induced polarisation chargeability anomaly extending over 1.4km.
The TMT Project is located in the San Juan province of Argentina, occupying an unexplored area between the El Indo and Maricunga metallogenic belts.
Belararox is a mineral explorer focused on securing and developing resources to meet the growing demand from the technology, battery, and renewable energy markets.
Write to Maddison Elliott at Mining.com.au
Images: Belararox
