Amara Minerals is raising about $2.2 million via a share placement, with funds to support ongoing drilling at its Lauriston and Apollo gold-antimony projects in Victoria.
The placement will comprise about 440 million fully paid ordinary shares priced at $0.005 per share, representing a 25% premium to the company’s last traded price of $0.004 on 11 June 2026.
The issue price also represents an 8.5% premium to Amara’s 10-day volume weighted average price (VWAP) of $0.00461 and a 3.3% premium to the 20-day VWAP of $0.0048.
Each placement share carries 1 free attaching listed option for every 2 shares subscribed.
This will result in the issue of 220 million AM3OA options, exercisable at $0.008 and expiring on May 1, 2029, subject to shareholder approval at a general meeting.
Barclay Pearce Capital acted as sole lead adviser to the placement and will receive a 6% capital raising fee, along with 22 million AM3OA listed options, also subject to shareholder approval.
Nova Minerals has agreed to subscribe for $500,000 as a cornerstone investor in the placement.
Directors to participate
Amara chairman Mena Habib and managing director Ian Holland also intend to participate in the placement, subscribing for $75,000 and $25,000 respectively.
Habib’s participation would comprise 15 million shares and 7.5 million options, while Holland’s would comprise 5 million shares and 2.5 million options.
As related parties, their participation remains subject to shareholder approval under Listing Rule 10.11.
“This strongly supported placement reflects continued confidence in Amara’s Victorian antimony strategy at a pivotal time, with drilling continuing at Trojan and the rig now moving to Apollo,” Holland said.
Where funds will go
Funds from the placement will be used for continued diamond drilling at the Lauriston and Apollo gold and antimony projects, assessment of new opportunities, general working capital and costs associated with the placement.
The raise follows recent assay results from the Trojan prospect at Lauriston, where all six holes drilled to date have returned what the company considers significant antimony results.
The deepest hole drilled at Trojan, AY2610, returned 6.5 metres at 0.86% antimony and 0.59 g/t gold from 142.6 metres, including 0.8 metres at 3.13% antimony and 1.59 g/t gold.
Amara said the mineralisation showed characteristics of an epizonal gold-antimony system, in line with geological settings seen at nearby Victorian deposits including Fosterville, Costerfield and Sunday Creek.
About the projects
Lauriston was acquired in 2025 and covers 28,700 hectares next to the Fosterville Mine in Victoria’s Bendigo Zone.
The project hosts the high-grade Comet discovery, where previous drilling returned results including 8 metres at 104 g/t gold and 5.9 metres at 15.3 g/t gold.
Apollo, also acquired in 2025, sits in Victoria’s Melbourne Zone and is considered prospective for bulk-tonnage gold mineralisation, with mineralisation open at depth and along strike. The project also hosts antimony-bearing stibnite.
Amara noted that the Victorian Government had launched a $1 million Advancing Antimony Grants Program to support early-stage business case work for downstream antimony processing, while the Geological Survey of Victoria and Geoscience Australia had begun an airborne electromagnetic survey across central Victoria.
About Amara Minerals
Amara Minerals is an Australian mineral exploration company focused on gold and antimony exploration in Victoria through the Lauriston and Apollo projects.
The company also holds a lithium portfolio in Brazil, including tenements in the country’s ‘lithium valley’ and Borborema region, providing exposure to battery metals exploration alongside its Australian gold-antimony strategy.