Osmond Resources (ASX:OSM) is raising $6.6 million through a share placement to fund activities at the Orión EU Critical Minerals Project in Spain.
The company will issue 11 million shares at an issue price of $0.60, representing a 16.7% discount to the last trading price and an 18.3% discount to the five-day volume weighted average price.
Osmond is offering one free attaching option for every two shares subscribed in this placement, exercisable at $1.20 on or before 31 December 2027.
The placement is expected to be settled on 19 January 2026.
Osmond says the financing offer was led and cornerstoned by two existing institutional shareholders.
The company will allocate the funds to the CY2026 exploration campaign at the Orión EU Project, streamlining its aspiration to become the first European miner of titanium, zircon, and rare earths.
Osmond Resources is focused on fast-tracking the development of critical minerals projects in Europe.
Write to Maddison Elliott at Mining.com.au
Images: Osmond Resources
