Numerous resources companies announced capital raises, including Genmin (ASX:GEN), which is raising $25.7 million through a placement to progress the Baniaka Iron Ore Project towards a final investment decision.
The company will issue 2.57 billion shares at $0.010 across two tranches, offering holders one free attaching option per every two shares subscribed.
Options will be exercisable at $0.015 and will expire two years from the date of issue. Upon exercising options within one year, the holder will receive one free unlisted option exercisable at $0.02 to expire on 15 December 2028.
Foster Stockbroking and Canaccord Genuity are acting as the lead managers and bookrunners for this placement.
Genmin Directors John Hodder and Greg Lilleyman have committed to subscribe for $8.3 million of the placements total through the conversion of loans into equity, subject to shareholder approval at a general meeting.
The meeting is scheduled for 16 December 2025, also discussing tranche two requirements to raise the remaining $24.4 million. Genmin expects to allot tranche on shares on 24 December, before tranche two to follow the upcoming meeting.
Critical funding
Critica (ASX:CRI) is raising $8 million for its flagship Jupiter Rare Earths Project in Western Australia.
The company will issue 307.7 million shares at $0.026 over two tranches, representing a 16.1% discount to the last closing price of $0.031 and 19.8% discount to the 10-day volume weighted average price (VWAP).
Bell Potter Securities and Taylor Collison are acting as joint lead managers for this placement.
The placement will offer one option for every share held, exercisable at $0.043 and to expire two years from issue for a total of 307.7 million options. Critica will offer 203 million options in tranche one and the remaining 102.8 million in tranche two.
Tranche one will raise around $5.3 million and is expected to open on 20 November before allotting shares the next day, while tranche two intends to raise the remaining $2.4 million on or around 21 January 2026, following shareholder approval.
A general meeting will be held on or around 15 January, also discussing participation from Critica Directors Tim Lindley, Nick Cernotta, and Jamie Byrde to apply for a total of 12.3 million shares under this placement.
Lion Selection Group has committed to invest $500,000 under this placement, in support of the Jupiter Project, located 50km west of Mt Magnet in Western Australia.
Alongside a $1 million research and development rebate expected in January 2026, Critica will use these funds raised to conduct a Scoping Study at the project, as well as associated drilling campaigns, metallurgy and piloting, and offtake engagements.
Meanwhile Canadian explorer Galantas Gold (TSX-V:GAL) is raising C$7 million ($7.65 million) to fund the acquisition of RDL Mining and development activities to follow at the Indiana Gold-Copper Project in Chile.
The company will issue 87.5 million units at a price of C$0.080 per unit, with Canaccord Genuity and Haywood Securities acting as the lead agents and bookrunners for this offer.
Each unit will comprise one share and one purchase warrant, with each warrant held entitling the holder to acquire an additional share at C$0.120 over a three-year period.
Through this transaction, Galantas has the option to acquire a whole interest in Minería Activa for the Indiana Project, which is located 40km from Copiapó and sits within a copper-gold-silver belt along the coastal cordillera of the Atacama Region.
Galantas is currently focused on updating the mineral resource for the project, which is expected to be returned this month.
Write to Maddison Elliott at Mining.com.au
Images: Genmin & Critica
