Ore Resources Ltd. has raised AU$7.5 million through an equity placement to accelerate gold-focused exploration programmes at its Coolgardie gold projects in Western Australia.
The company issued approximately 129.3 million new shares at an issue price of 5.8 cents per share.
The company’s directors also subscribed for a total of AU$460,000 of the placement, subject to shareholder approval.
Settlement of the shares is expected on December 18.
Ore Resources will use the funds to explore the Coolgardie gold projects, including detailed geophysical work programmes and advanced target work-up of the Miriam regional targets commencing in the first quarter of 2026.
The company will also drill approximately 30,000 metres at Coolgardie, targeting further extensions to fresh rock and oxide gold lodes at Forrest.
In addition, Ore Resources also plans to use the funds to further evaluate the Randalls gold project, including detailed assessment of high-potential gold targets.
Ore Resources CEO Nick Rathjen thanked all shareholders who participated in the capital raising.
“The strong support for the placement reflects not only the growing belief in the potential of our Coolgardie and Randalls gold projects, but also in our ability to continue unlocking value through our proven, high-impact exploration strategy.
“Our objective is to further validate this belief in our business and its gold prospects with this raising, allowing for significant expansion of our planned 2026 gold exploration activities at Coolgardie, and in particular, Miriam.”
