3 February 2025 - Sydney, Australia | Marmota Limited (ASX:MEU) is pleased to announce the completion of a successful $5 million capital raise through a one-tranche placement to institutional and sophisticated investors.
Highlights
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Strong Institutional Support: High-quality institutional investors added to the register via the placement .
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Placement Details:
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$5 million raised through the issue of ~90.9 million shares at a price of $0.055 per share.
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The issue price represents a 9.5% discount to the 5-day VWAP.
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Alpine Capital acted as Lead Manager.
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Use of Funds: Proceeds will be used to accelerate exploration and development across Marmota’s projects, including:
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Titanium Exploration: Advancing drilling and metallurgical work for titanium at the Muckanippie Heavy Minerals Sands discovery.
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Gold Development: Completing the scoping study and maiden resource estimate for gold at the Aurora Tank project.
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Uranium & Expansion Programs: Supporting further drilling campaigns for uranium across Marmota’s portfolio.
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Marmota’s Executive Chairman, Dr. Colin Rose, stated: “Marmota is particularly pleased to welcome on to the register 10 high-quality institutional funds. The Company extends a warm welcome to all new shareholders who are joining the register at a most exciting time, with the Company fully funded to carry out its planned programs. We have capped the raise at $5m.”
Next Steps
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Drilling Expansion: The follow-up drill program at Muckanippie is underway, with 89 holes planned that will be targeting the interpreted titanium-hosting paleochannel.
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Development Progress: Funds will fast-track metallurgical studies for Aurora Tank’s maiden resource.
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Placement Completion: Settlement of new shares is expected fopr 6 February 2025.
Dr. Colin Rose
Executive Chairman
Marmota Limited
[email protected]
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]
About us:
About Marmota Limited
Marmota Limited is an Australia-based mining exploration company. The Company is focused on gold, copper and uranium. The Company's projects include Gawler Craton, Copper Coast, Yorke Peninsula and Junction Dam. The Company’s copper project is based at the Melton project on the Yorke Peninsula. The Company's uranium project is at Junction Dam adjacent to the Honeymoon mine. The Gawler Craton gold project comprises around 6,000 square kilometers in the Woomera Prohibited Area. It has been active on the Champion Prospect in the West Melton tenement (100% owned), on the Copper Coast of the Yorke Peninsula. Junction Dam is the Company’s flagship uranium project, located 50 kilometers (km) west of Broken Hill.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]