Neometals (ASX:NMT) has deferred the proposed settlement and allotment dates for tranche two of shares from an ongoing placement.
Settlement and allotment dates have been deferred from 4 and 5 June 2026 to 18 and 19 June 2026, respectively.
The company says the deferral of settlement was initiated to accommodate for delays in the administrative processes of the primary investor in tranche two, Omaha Value Holdings.
Neometals announced it received firm commitments to raise $7.9 million in a placement on 20 April 2026, which was followed by a $5.1 million entitlement offer.
Across the two-tranche placement, Neometals approved to issue 197.5 million shares at $0.04 per share, raising funds to advance its Barrambie Project towards initial gold production through a joint venture.
The company outlined a total of 125.62 million shares to be issued under tranche two of the placement.
Tranche two was approved by shareholders at a general meeting on 29 May 2026.
Neometals is a critical minerals-focused company that facilitates sustainable critical mineral supply chains and reduces the environmental burden of traditional mining in the global transition to a circular economy.
Write to Maddison Elliott at Mining.com.au
Images: Neometals
