Pursuit Minerals Secures $1.1 Million in Oversubscribed Capital Raise

Highlights:

• $1.1 Million Capital Raised – Pursuit Minerals Ltd (ASX: PUR) secured firm commitments from investors and directors for a placement of approximately 18.33 million shares at AU$0.06 per share.
• Funding for Lithium Project Expansion – The proceeds will accelerate the development of the Rio Grande Sur Lithium Project in Argentina, including the 250tpa Pilot Plant and potential strategic acquisitions.
• Strong Investor Interest – The oversubscribed placement saw strong support from existing shareholders, high-net-worth investors, and institutional backers, highlighting confidence in Pursuit’s growth strategy.

Strategic Funding to Drive Lithium Project Development

Pursuit Minerals Ltd (ASX: PUR) has successfully raised AU$1.1 million through an oversubscribed placement, securing firm commitments from sophisticated and professional investors, along with contributions from its directors. The capital injection will support the ongoing advancement of its Rio Grande Sur Lithium Project in Argentina.

Placement Details and Investor Support

The placement involved the issuance of approximately 18.33 million fully paid ordinary shares at AU$0.06 per share, reflecting a 20% discount to the last closing price of AU$0.075. Investors participating in the placement will receive one attached option for every two shares acquired, with an exercise price set at AU$0.09 and a two-year expiry period from the date of issuance. Subject to shareholder approval, Pursuit’s directors will contribute AU$70,000 to the raise.

Alpine Capital Pty Ltd served as the lead manager for the placement and will be compensated with a 6% cash fee based on the total amount raised. Additionally, Alpine will be granted New Options at a ratio of one option for every five shares issued, totaling 3.67 million options, pending approval at an upcoming Extraordinary General Meeting (EGM).

Funding to Advance Lithium Production and Strategic Acquisitions

Proceeds from the placement will be primarily directed toward accelerating the development of Pursuit’s 250 tonnes per annum (tpa) lithium carbonate pilot plant, which is already in progress. The company is also evaluating potential acquisitions in Argentina to strengthen its asset portfolio and capitalize on the country’s favorable mining conditions.

Market Response and Future Outlook

At the time of writing, Pursuit Minerals shares remain actively traded, with investors closely monitoring project developments. Managing Director & CEO Aaron Revelle emphasized that the successful capital raise positions the company to unlock further value through feasibility studies, off-take discussions, and strategic expansions.

The placement was strongly backed by existing shareholders and introduced new high-net-worth investors and institutions, reinforcing confidence in Pursuit’s growth trajectory within the lithium sector.

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