Infinity Mining (ASX:IMI) is using the $201,500 raised in a placement for general working capital, with farm-in partner Mining One participating.
The company has issued 31 million new fully paid ordinary shares at $0.0065 each to sophisticated and professional investors.
Mining One, Infinity’s strategic technical alliance and farm-in partner for the Tanjil Project in Victoria, participated in the placement. The company announced the farm-in agreement for its gold-antimony projects on 27 April 2025.
The new shares were issued under the company’s existing placement capacity pursuant to ASX Listing Rule 7.1 and rank equally with its existing fully paid ordinary shares.
CPS Capital Group acted as lead manager and broker to the placement. It received a 2% management fee and a 4% raising fee on the funds raised, both excluding GST.
Board change
Infinity also announced that James Xiao has left the board, effective today (13 November). The company says Xiao helped complete its refocus and provided technical input to the Orivium Extraction Project.
Infinity thanked him for his input and wished him well.
The Orivium Extraction Project relates to the company’s plan, announced on 3 November 2025, to use Orivium Extraction technology at its Cangai Project in New South Wales.
Orivium’s Super Oxidiser technology is being tested at an Alpha Plant in Orange to process copper-rich stockpiles from Cangai.
Cangai and the wider portfolio
Infinity Mining holds a portfolio of copper, gold, antimony, and base metal exploration projects across NSW, Victoria, and Western Australia.
The portfolio includes the Cangai Project, which contains a JORC 2012 mineral resource estimate of 4.4 million tonnes @ 2.5% copper, the Tanjil Bren and Walhalla South Extended joint venture projects in Victoria, and the Hillside Project in WA’s East Pilbara.
The company also holds binding arrangements with Orivium Global in relation to the use of Orivium processing technology for Cangai feedstock and e-waste.
The company has not detailed any specific work programs for the funds beyond working capital.
Write to JC Villarba at Mining.com.au
Images: Infinity Mining
