Marmota (ASX:MEU) is raising $15 million through a placement to fund workstreams at the Gawler Gold Project in South Australia to accelerate and advance the asset.
The company will issue 111.11 million shares at $0.13 per share, representing a 12% discount to the 10-day volume weighted average price.
Petra Capital acted as the lead manager and bookrunner for this placement, which is expected to settle on 17 February 2026, before shares are allotted the following day.
Funds will be deployed to the Gawler Project, which the company says has returned “spectacular results”, with drilling to be conducted at mainwood in March.
Drilling is intended to target resource growth ahead of a Scoping Study.
Chairman Colin Rose says this capital raise is a “transformational” moment for the company.
“It more than fully provides the company with the funds to execute its Gawler Gold strategy that is achieving spectacular gold results and proving so successful,” Rose says.
“The company extends a warm welcome to all new shareholders who are joining the register at a most exciting time.”
Marmota is a South Australian mining company focused on gold, titanium, and uranium.
Write to Maddison Elliott at Mining.com.au
Images: Marmota
