Lodestar Minerals (ASX:LSR) has completed a capital raising to further advance an exploration program at the Darwin Project in Chile.
In January 2025, the company aimed to raise $520,000 via the issue of 47.27 million shares at $0.011. The following month, Lodestar added a further application for $22,500 — taking the total amount to $542,500.
Lodestar says it has received interest from additional sophisticated and professional investors and has secured binding commitments for an additional $661,000 placement.
Whairo Capital will act as lead manager to the placement.
The placement will be under the same terms as the previously conducted placement, with participants receiving one option for every two shares subscribed for. The options will be exercisable at $0.017 and will expire on 31 March 2027.
Chairman Ross Taylor says the additional funds will further strengthen the company’s financial position, allowing Lodestar to expedite exploration drilling at Darwin.
The Darwin Project lies within an iron-oxide copper-gold belt in Chile, which includes the 1.2 billion tonnes @ 0.60% copper, 0.13 grams per tonne gold, 2g/t silver Candelaria deposit.
Lodestar Minerals is a base metal and gold explorer focused on its project portfolio in Western Australia and Chile.
Write to Aaliyah Rogan at Mining.com.au
Images: Lodestar Minerals
