Revolver Resources (ASX:RRR) is raising $2.6 million through an equity placement and convertible note issue to fund the advancement of the Dianne Copper Mine Project in Queensland.
Ignite Equity is acting as the lead manager for both financing offers.
The company will issue 11.79 million shares in the equity placement at $0.07 per share to raise the first $825,000. The offer will include one free attaching option for every two shares subscribed for.
Options will be exercisable at $0.13 and will expire on 30 September 2028 under the same conditions.
The share issue price represents a 22% discount to Revolver’s last closing price on 20 February 2026, as well as a 19% discount to the five-day volume weighted average price.
The placement is expected to settle on 2 March 2026.
In conjunction with the placement, Revolver will also issue 142 unsecured zero-coupon convertible notes, holding a face value of $12,500 each and a 30-month term.
This offer will raise the remaining $1.78 million, issuing two free options for every three share entitlements attached to the convertible notes, resulting in 119,047 convertible notes options.
Convertible notes options will be exercisable at $0.13 and will expire on 30 September 2028, subject to shareholder approval at an upcoming general meeting in April 2026.
Managing Director Pat Williams says the company is focused at advancing numerous potential project funding packages for the Dianne Project.
“In this regard, I am pleased to say that the combination of strong global copper market demand and price appreciation over recent months has seen progressive and significant improvement in the commercial terms offered by potential counterparties within this process,” Williams says.
“This capital raising delivers us the ability to continue advancing and optimizing the project funding process towards targeted near-term finalisation, while also committing to further critical path site early development works and procurement activities in parallel.
“This is expected to place Revolver and the short-lead, capital-lite Dianne Copper Mine Project in the ideal position for a targeted positive final investment decision in coming months.”
As reported by Mining.com.au, the company expects to deliver its first copper cathode output from the Dianne mine in H2 2026.
Revolver Resources is an Australian explorer focused on developing resources needed for the global shift towards electrification.
Write to Maddison Elliott at Mining.com.au
Images: Revolver Resources
