Full throttle at Ricciardo: Warriedar Resources (ASX:WA8) accelerates with $17 million in hand

Warriedar Resources (ASX:WA8) is wasting no time turning momentum into muscle.

Fresh off delivering Australia’s largest open-pit antimony resource, the gold-antimony explorer has locked in $17 million from institutional investors to fast-track drilling at its flagship Ricciardo deposit in WA’s Murchison region.

The placement, priced at $0.10 per share, drew strong support from both Australian and North American funds clear validation of Warriedar’s dual commodity strategy and the scale emerging at Ricciardo.

The company is also opening the door to retail shareholders via a $2 million Share Purchase Plan at the same price.

Managing Director Amanda Buckingham described the placement as a vote of confidence in the company’s trajectory:

“We are excited to be launching the fast-tracking of our core gold-antimony asset, the Ricciardo deposit at Golden Range.”

The funding enables more than 50,000m of new drilling, backed by two diamond rigs already in the field and a third on the way.

Resource expansion, engineering studies, and geoscience programs are now advancing at pace.

Highlights:

• $17M raised via placement at $0.10 per share
• $2M SPP to follow for eligible shareholders
• Over 1Moz gold and 60kt contained antimony at Ricciardo
• 50,000m of drilling planned, with assays from June
• Resource upgrade expected in December quarter

With more than 947,000 ounces of gold already defined at Ricciardo across open pit and underground categories, the recent antimony resource adds another layer to the company’s growth story.

Importantly, the 57,000 tonnes of contained antimony defined in open pit material sets Warriedar Resources apart at a time when critical minerals are gaining strategic prominence.

“Earlier this month we delivered a maiden antimony resource at Ricciardo of over 60 kt contained Sb… When this is coupled with a rapidly growing existing gold resource of over 1 Moz Au, it is clear why we believe Ricciardo now deserves a dedicated program,” Buckingham said.

Notably, Warriedar’s strategy hasn’t wavered despite market noise.

The company remains tightly focused on drilling out the broader 70-kilometre ‘Golden Corridor’, which Buckingham calls “high-impact” territory for gold and antimony.

“To be clear, our overarching strategy remains the same high-impact drilling to rapidly grow gold-antimony resources at Ricciardo and along the broader ‘Golden Corridor’.”

The placement was jointly led by Bell Potter and Cygnet Capital and priced at a 13% discount to the last traded price.

Once the SPP closes on 17 June, Warriedar expects to hold around $23 million in cash (pre-costs), positioning it to maintain its aggressive drilling cadence through 2025.

With assays due within weeks and another resource upgrade pencilled in for year-end, Warriedar is putting the funds to work immediately.

Execution now becomes the company’s biggest catalyst and one that could redefine its role in Australia’s evolving critical minerals landscape.