Dalaroo Metals (ASX:DAL) has completed tranche two of its placement, with board members investing $320,000 alongside shareholders.
The board participation brings total proceeds from the two-tranche placement to approximately $1.75 million, strengthening the company’s funding position to advance exploration across its gold and critical minerals portfolio in Côte d’Ivoire and Greenland.
Dalaroo issued securities under tranche two at $0.075 per share, together with one free-attaching option for every two shares subscribed for, following shareholder approval received after the initial placement announcement on 5 May 2026.
The new shares rank equally with existing fully paid ordinary shares on issue.
CEO John Morgan says the completion represents an “important vote of confidence” from the board.
“Their investment of approximately $320,000 demonstrates a strong belief in the company’s strategy and ensures the board remains closely aligned with all shareholders as we advance our exploration programs,” Morgan says.
“With approximately $1.75 million raised across the two tranches, Dalaroo is well-positioned to maintain momentum across our two principal growth fronts: the Bondoukou Gold Project in Côte d’Ivoire and the Blue Lagoon Rare Earth Project in Greenland.”
The company will direct funds primarily toward advancing high-priority exploration programs across both jurisdictions, together with working capital and corporate costs.
At the Bondoukou Gold Project, Dalaroo plans to advance drill targeting and follow-up exploration across the approximately 7km gold corridor defined at the Gold Ridge prospect.
Meanwhile, the Blue Lagoon Rare Earth Project will integrate 2026 geological mapping, surface sampling, lagoon sampling, ground-penetrating radar, and bathymetric datasets to refine the next phase of exploration.
As previously reported, tranche one of the placement raised approximately $1.43 million, with the combined funding supporting the company’s systematic exploration strategy across its portfolio.
Dalaroo Metals is an explorer focused on the discovery and development of gold and critical mineral projects across Australia and international jurisdictions.
Write to Paula Fabe at Mining.com.au
Images: Dalaroo Metals
