Following a highly successful drilling campaign last year, today’s successful capital raising marks a transformational milestone for the company as it is about to list on the NASDAQ as well as launch its second drill campaign in the coming weeks. Strong tailwinds from the critical minerals sector as well as the recent FAST-41 status is a further endorsement of the project’s quality and potential.
HIGHLIGHTS
- Successful A$20 million institutionally-led Placement with firm commitments received from institutional and sophisticated investors, cornerstoned by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund.
- Proceeds to accelerate development through further exploration drilling, tungsten and antimony metallurgical test work and permitting across the Horse Heaven Project.
- NASDAQ listing imminent, expected to materially expand U.S. investor access, improve market liquidity and trade shoulder to shoulder with other critical mineral miners listed on major U.S. exchanges including MP Materials Corp (MP.NYS), Perpetua Resources Corp (PPTA.NAS), USA Rare Earth Inc (USAR.NAS) and Energy Fuels Inc (UUUU.AME).
- FAST-41 Status granted by the White House, positioning Antimony Ridge as a strategically important U.S. critical minerals project and expected to accelerate permitting timelines, including an application for up to 250 drill holes and large-scale bulk sampling.
- High Purity antimony production achieved, with 99.38 wt% antimony trioxide, demonstrating downstream processing capability.
- Further metallurgical optimisation underway, with both pyrometallurgical and hydrometallurgical test work progressing and final results expected in the coming weeks.
- Board strengthened, with Brett Lynch agreeing to join as a Director, bringing a track record of scaling Sayona Mining from microcap to a multi-billion dollar market capitalisation.
- 13,700 metre Phase 2 drilling program commencing in May, designed to define the scale of gold mineralisation at Golden Gate and Golden Gate South and support progression toward a maiden Mineral Resource Estimate (targeted for Q1, 2027, subject to successful outcomes).
- The Placement was completed at a 6.3% premium to the 20-day VWAP.
