Pure Resources Completes Capital Raising to Advance Garnet Hills Project
Source: Kapitales Research
Highlights:
Pure Resources has successfully finalised a AU$1.7 million capital raising through the issuance of new fully paid ordinary shares.
Funds raised will be used to progress development of the Garnet Hills garnet and graphite project in Western Australia, while also providing additional working capital support.
The issue of free attaching options is conditional on shareholder approval, which is expected to be sought at a general meeting scheduled for the first quarter of 2026.
Capital Raising Finalised
Pure Resources Limited (ASX: PR1) confirmed the completion of its previously announced equity placement, with new fully paid ordinary shares now issued to investors. The company issued a total of 11,333,333 shares at an issue price of $0.15 per share, raising $1.7 million before costs.
The placement was executed in a single tranche under the company’s existing issuance capacity pursuant to ASX Listing Rules 7.1 and 7.1A. The newly issued shares carry the same rights as existing ordinary shares, enhancing balance sheet strength as the company advances its development plans.
Options Pending Shareholder Approval
Under the terms of the placement, Pure Resources plans to issue one free attaching option for every three shares subscribed, resulting in a total of 3,777,778 options. Each option will carry an exercise price of $0.25 and is set to expire on 12 December 2028.
The issue of these options is subject to shareholder approval, which the company intends to seek at a general meeting scheduled to be held in the first quarter of 2026. Once approved, the options are expected to provide additional funding flexibility should they be exercised in the future.
Funding Garnet Hills Development
Capital raised through the placement will be directed largely toward advancing work at the Garnet Hills garnet and graphite project in Western Australia. The project represents a key asset within the company’s portfolio and aligns with its broader strategy of building exposure to battery and industrial minerals.
In addition to project expenditure, a portion of the proceeds will be used to support general working capital requirements, providing operational flexibility as the company continues to assess growth opportunities across its asset base.
Strategic Direction and Outlook
Pure Resources continues to position itself as a battery metals-focused explorer and developer, with an existing portfolio that includes nickel, copper, garnet, and graphite assets. Management has indicated a longer-term ambition to expand exposure to commodities such as lithium, rare earths, and graphite through organic project development or potential acquisitions.
With the placement now completed, investor attention is likely to turn to progress at Garnet Hills, upcoming shareholder approvals, and how effectively the company deploys capital to advance its development objectives while maintaining balance sheet discipline.
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.
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Pure Resources Completes Capital Raising to Advance Garnet Hills Project
Highlights:
Capital Raising Finalised
Pure Resources Limited (ASX: PR1) confirmed the completion of its previously announced equity placement, with new fully paid ordinary shares now issued to investors. The company issued a total of 11,333,333 shares at an issue price of $0.15 per share, raising $1.7 million before costs.
The placement was executed in a single tranche under the company’s existing issuance capacity pursuant to ASX Listing Rules 7.1 and 7.1A. The newly issued shares carry the same rights as existing ordinary shares, enhancing balance sheet strength as the company advances its development plans.
Options Pending Shareholder Approval
Under the terms of the placement, Pure Resources plans to issue one free attaching option for every three shares subscribed, resulting in a total of 3,777,778 options. Each option will carry an exercise price of $0.25 and is set to expire on 12 December 2028.
The issue of these options is subject to shareholder approval, which the company intends to seek at a general meeting scheduled to be held in the first quarter of 2026. Once approved, the options are expected to provide additional funding flexibility should they be exercised in the future.
Funding Garnet Hills Development
Capital raised through the placement will be directed largely toward advancing work at the Garnet Hills garnet and graphite project in Western Australia. The project represents a key asset within the company’s portfolio and aligns with its broader strategy of building exposure to battery and industrial minerals.
In addition to project expenditure, a portion of the proceeds will be used to support general working capital requirements, providing operational flexibility as the company continues to assess growth opportunities across its asset base.
Strategic Direction and Outlook
Pure Resources continues to position itself as a battery metals-focused explorer and developer, with an existing portfolio that includes nickel, copper, garnet, and graphite assets. Management has indicated a longer-term ambition to expand exposure to commodities such as lithium, rare earths, and graphite through organic project development or potential acquisitions.
With the placement now completed, investor attention is likely to turn to progress at Garnet Hills, upcoming shareholder approvals, and how effectively the company deploys capital to advance its development objectives while maintaining balance sheet discipline.
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