Buxton Resources (ASX:BUX) has received firm commitments to raise $1.14 million in a placement to fund exploration across the company’s project portfolio.
The company will issue 32.46 million ordinary shares at $0.035 per share, using the same terms and offer price as a recent placement approved by shareholders on 13 June 2026.
SI Capital (UK) acted as the lead manager for this placement, which is expected to settle on 6 July 2026, before shares are allotted on 8 July.
Funds will be deployed to cover exploration costs across the company’s projects in Western Australia and Arizona, US, as well as for general capital purposes.
Buxton Resources Chair Gervaise Heddle says the company is delighted to welcome new UK investors, and is thankful of them and existing shareholders for their ongoing support.
“This is an exciting time for the company as we prepare for imminent drilling activities at our Madman target in Western Australia,” Heddle says.
“This placement further strengthens the company’s balance sheet and enables us to accelerate activities across our portfolio of exploration projects.”
Buxton Resources is focused on discovery and development of nickel, copper, gold, iron, and graphite in Western Australia and Arizona.
Write to Maddison Elliott at Mining.com.au
Images: Buxton Resources
