Eagle Mountain Mining secures $1.66 million raise to strengthen project momentum
Highlights:
Eagle Mountain Mining Limited (ASX: EM2) completed a $1.66 million capital raise at the time of writing, issuing 183.9 million shares at $0.009 each.
The capital raise drew solid interest from both returning and new sophisticated investors, with participants set to receive one unlisted option for every three shares issued, pending shareholder approval.
Prenzler Group Pty Ltd and Alto Capital acted as Co-Lead Managers, helping secure firm demand despite broader market conditions.
Capital Raise Successfully Completed
Eagle Mountain Mining Limited (ASX: EM2) has officially completed its latest capital raise, securing $1.66 million before costs, the company confirmed. At the time of writing, the funds raised through this placement mark a significant step forward for Eagle Mountain Mining as it works to advance its copper-focused development plans. The capital raise drew strong interest from both existing supporters and new sophisticated investors, highlighting continued confidence in the company’s long-term strategy.
Placement Structure and Pricing
The raise saw the company issue 183.9 million fully paid shares, utilising its available placement capacity under Listing Rules 7.1 and 7.1A. The new shares were priced at $0.009 each, which sits 12.5% above Eagle Mountain’s 10-day VWAP of $0.008. However, the offer also landed at an 11% discount to the 30-day VWAP of $0.01, balancing immediate market appeal with investor value.
Participants in the placement will additionally receive 61.3 million unlisted options, issued on a 1-for-3 basis, pending shareholder approval. These attaching options provide investors with further upside exposure as the company moves into its next operational phase.
Backing and Management Support
The placement was jointly led by Prenzler Group Pty Ltd and Alto Capital, who acted as Co-Lead Managers for the offer. Their involvement helped facilitate firm demand, ensuring the placement closed strongly despite broader market volatility. Eagle Mountain Mining noted that formal documentation, including an Appendix 2A and a cleansing notice, will follow as part of its regulatory requirements.
At the time of writing, the successful raise positions Eagle Mountain Mining to progress key exploration and development activities. With renewed financial backing and a clear structure in place, the company is set to maintain momentum as it heads into upcoming project milestones.
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Eagle Mountain Mining secures $1.66 million raise to strengthen project momentum
Highlights:
Eagle Mountain Mining Limited (ASX: EM2) completed a $1.66 million capital raise at the time of writing, issuing 183.9 million shares at $0.009 each.
Capital Raise Successfully Completed
Eagle Mountain Mining Limited (ASX: EM2) has officially completed its latest capital raise, securing $1.66 million before costs, the company confirmed. At the time of writing, the funds raised through this placement mark a significant step forward for Eagle Mountain Mining as it works to advance its copper-focused development plans. The capital raise drew strong interest from both existing supporters and new sophisticated investors, highlighting continued confidence in the company’s long-term strategy.
Placement Structure and Pricing
The raise saw the company issue 183.9 million fully paid shares, utilising its available placement capacity under Listing Rules 7.1 and 7.1A. The new shares were priced at $0.009 each, which sits 12.5% above Eagle Mountain’s 10-day VWAP of $0.008. However, the offer also landed at an 11% discount to the 30-day VWAP of $0.01, balancing immediate market appeal with investor value.
Participants in the placement will additionally receive 61.3 million unlisted options, issued on a 1-for-3 basis, pending shareholder approval. These attaching options provide investors with further upside exposure as the company moves into its next operational phase.
Backing and Management Support
The placement was jointly led by Prenzler Group Pty Ltd and Alto Capital, who acted as Co-Lead Managers for the offer. Their involvement helped facilitate firm demand, ensuring the placement closed strongly despite broader market volatility. Eagle Mountain Mining noted that formal documentation, including an Appendix 2A and a cleansing notice, will follow as part of its regulatory requirements.
At the time of writing, the successful raise positions Eagle Mountain Mining to progress key exploration and development activities. With renewed financial backing and a clear structure in place, the company is set to maintain momentum as it heads into upcoming project milestones.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au