Warriedar Resources (ASX:WA8) sharpens focus with $17 million raise and accelerated drilling campaign

In a strategic move that underscores its ambition to become a critical player in both gold and antimony, Warriedar Resources (ASX:WA8) has secured $17 million in new funding to accelerate exploration and development across its flagship Golden Range Project.

Managing Director Amanda Buckingham outlines the thinking behind the timing, the scale of opportunity at Ricciardo, and what investors can expect as the company transitions from explorer to potential developer.

“With the maiden antimony Resource now confirmed and drilling results beginning to support substantial growth at Ricciardo, we saw an opportunity to bring in quality institutional investors who understand the potential scale of what we’re building,” said Buckingham.

The raise was not only opportunistic, it was strategic.

By bringing in new institutional support, Warriedar Resources has positioned itself to maintain uninterrupted drilling momentum through 2025.

“We now have the balance sheet strength to support 50,000 plus metres of drilling, initiate geoscience and metallurgical studies, and move the Ricciardo deposit toward a potential development scenario,” she added.

Why Ricciardo stands apart

At the heart of Warriedar’s investment proposition is the Ricciardo deposit, a dual commodity system with more than 1 million ounces of gold and 60,000 tonnes of antimony already defined.

It also hosts Australia’s largest open pit antimony resource, positioning it as a key domestic contributor to the critical minerals agenda.

“Ricciardo is unique in the Australian context. It combines scale, grade and dual commodity potential in gold and antimony,” Buckingham explained.

“We believe there’s significant upside along this trend, and this placement allows us to pursue both growth at Ricciardo and greenfields exploration in parallel,” Buckingham said.

Deployment of capital and investor returns

The $17 million raise will fund a comprehensive, multi-pronged exploration and development campaign.

More than 50,000 metres of new drilling is planned, alongside continued Resource upgrades, metallurgical test work, geophysics and engineering studies.

“The focus is on both growing our Resources and fast tracking technical de-risking of Ricciardo,” said Buckingham.

For investors, that means a steady stream of results, with initial assay updates expected to begin in June and a Resource update anticipated in the December quarter.

The company is working to systematically build a development ready asset underpinned by both scale and economics.

Supporting retail shareholders

In parallel with the institutional placement, Warriedar has launched a Share Purchase Plan (SPP) to allow existing shareholders to participate on equal terms.

The SPP offers shares at $0.10, the same price as the placement, and allows eligible investors to apply for up to $30,000 in new shares without brokerage fees.

“We value our retail investor base and want them to be part of this next phase of growth,” Buckingham said.

The SPP opens on 4 June and is scheduled to close on 17 June, unless closed earlier at the company’s discretion.

What’s next?

Warriedar is gearing up for a high activity second half of 2025, with three drill rigs soon to be operational across Ricciardo and the broader Golden Range corridor.

The first catalyst will be assay results from ongoing drilling, expected to begin in June.

“With three rigs soon operating across high priority zones, we expect consistent drilling updates to support momentum through the second half of 2025,” Buckingham noted.

In addition to the drilling results, technical and economic studies are underway that will help underpin future development decisions.

The company is working to understand the full potential of Ricciardo, not just from a geological standpoint, but as a commercial asset.

“We’re building a strong foundation so we understand how to monetise this asset,” she said.

With a fortified balance sheet, a growing Resource base and a critical minerals story aligned with broader market trends, Warriedar is now firmly positioned to deliver on both growth and value.

Investors will be watching closely as the company executes its drilling program, advances toward a development scenario and continues to unlock the potential of Western Australia’s Golden Range.

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