Amara Minerals (ASX:AM3) secures $2.2m placement as Nova Minerals increases strategic investment

Amara Minerals has received firm commitments for a placement to raise approximately $2.2m, with Nova Minerals increasing its strategic investment and both the company’s Chairman and Managing Director intending to participate in the raising.

The funds are intended to support continued drilling at the Lauriston and Apollo Gold and Antimony Projects in Victoria, following recent drilling activity at the Trojan Prospect.

Highlights

• Firm commitments received for a placement to raise approximately $2.2m.
• Placement priced at $0.005 per share, representing a 25% premium to the last traded price of $0.004.
• Issue price represents an approximately 8.5% premium to the 10-day VWAP of $0.00461 and approximately 3.3% to the 20-day VWAP of $0.0048.
• Nova Minerals has committed a further $500,000 as a cornerstone investor.
• Chairman Mena Habib and Managing Director Ian Holland intend to participate for $75,000 and $25,000 respectively, subject to shareholder approval.
• Funds will support continued drilling at the Lauriston and Apollo Gold and Antimony Projects, assessment of new opportunities and general working capital.

The placement will comprise approximately 440,000,000 fully paid ordinary shares issued at $0.005 per share, with each Placement Share carrying one free attaching listed option for every two shares subscribed, resulting in 220,000,000 attaching AM3OA Options exercisable at $0.008 and expiring on 1 May 2029, subject to shareholder approval.

Nova Minerals, which became a strategic investor in Amara Minerals in September 2025, has agreed to subscribe for $500,000 as a cornerstone investor in the placement.

The commitment comprises 100,000,000 Placement Shares and 50,000,000 attaching Options and builds on Nova Minerals’ initial $1m investment made in September 2025.

According to the company, funds raised under the placement will be applied towards continued diamond drilling at the Lauriston and Apollo Gold and Antimony Projects, assessment of new opportunities, and general working capital and costs associated with the placement.

The announcement follows recent assay results from the Trojan Prospect at Lauriston, where the company reported results from six holes drilled to date.

The deepest hole drilled at Trojan, AY2610, returned 6.5m @ 0.86% Sb and 0.59g/t Au from 142.6m, including 0.8m @ 3.13% Sb and 1.59g/t Au.

The company stated that the mineralisation observed exhibits hallmarks of an epizonal gold-antimony system and referenced nearby Victorian deposits as geological context.

Amara Minerals Managing Director Ian Holland said:

“This strongly supported Placement reflects continued confidence in Amara’s Victorian antimony strategy at a pivotal time, with drilling continuing at Trojan and the rig now moving to Apollo. We’re pleased to welcome further support from Nova Minerals, and the Board’s own participation at the 25% premium reflects our shared confidence in the path ahead.”

Chairman Mena Habib intends to participate in the placement for $75,000, comprising 15,000,000 shares and 7,500,000 Options, while Managing Director Ian Holland intends to participate for $25,000, comprising 5,000,000 shares and 2,500,000 Options.

The company noted that, as related parties, their participation remains subject to shareholder approval under Listing Rule 10.11.

Barclay Pearce Capital acted as sole lead adviser to the placement and, under the announced terms, will receive a 6% capital raising fee and 22,000,000 AM3OA listed options, subject to shareholder approval.

The company stated that funds raised under the placement will be applied towards continued diamond drilling at the Lauriston and Apollo Gold and Antimony Projects, assessment of new opportunities, and general working capital and costs of the placement.

Drilling is continuing at Trojan, with the rig moving to Apollo, while exploration activities remain focused on the Lauriston and Apollo Gold and Antimony Projects in Victoria.

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