Minerals 260 Secures $220 Million to Acquire Bullabulling Gold

Highlights:

• $220 million successfully raised to acquire and advance the Bullabulling Gold Project in Western Australia.
• Strong institutional backing from investors across Asia, North America, and Europe, along with support from existing shareholders.
• ASX trading resumption expected on 10 April 2025, following regulatory re-compliance.

Successful Capital Raise to Drive Acquisition

Minerals 260 Limited (ASX: MI6) has successfully raised $220 million through a capital raising initiative, enabling the company to acquire the Bullabulling Gold Project in Western Australia. The funding round received strong backing from both new international investors and existing shareholders, reinforcing confidence in the company’s long-term growth strategy.

Capital Raising Details

The capital raise, completed at an issue price of $0.12 per share, involved the issuance of 1.83 billion new shares. At the time of writing, the company has confirmed that the new shares are set to be issued later today. Chairman Tim Goyder and key management contributed a total of $12.7 million, with Goyder and his nominees investing $12 million.

Strong interest came from institutional investors across Asia, North America, and Europe, as well as domestic institutions. The funds raised will cover the $156.4 million cash component required to acquire the Bullabulling Gold Project from Norton Gold Fields Pty Ltd, a subsidiary of Zijin Mining Group Co., Ltd. The remaining capital will support the project's development, including an upcoming drilling campaign.

Path to ASX Reinstatement

Minerals 260 is working closely with the ASX to meet re-admission conditions. The company expects to resume trading on 10 April 2025 after meeting all regulatory requirements. Bell Potter Securities Limited and Argonaut Securities Pty Limited acted as joint lead managers for the capital raising.

Chairman’s Statement

Chairman Tim Goyder described the capital raise as a milestone achievement, emphasizing the strong support from global and domestic investors. He reaffirmed the company’s commitment to aggressive exploration and development, with drilling operations set to commence soon.

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