Coda Minerals AGM Chair Addresses Pre-Feasibility Study Progress and A$19 Million Capital Raise at Elizabeth Creek

Manish Choudhary

11 November 2026 01:13 PM AEDT

Coda Minerals AGM Chair Addresses Pre-Feasibility Study Progress and A$19 Million Capital Raise at Elizabeth Creek

Image Source: Krish Capital Pty Ltd

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Coda Minerals (ASX:COD) Chair Keith Jones has addressed shareholders at the company's 2026 Annual General Meeting, disclosing progress on the Pre-Feasibility Study at the wholly owned Elizabeth Creek Copper-Silver Project, the completion of a 19-hole drilling programme, and a capital raise of approximately A$19 million before costs.

Key Points

Coda Minerals raised approximately A$19 million before costs, including a final tranche received after year end, to fund PFS-related activities at Elizabeth Creek.
A 19-hole drilling programme has been completed, with expanded testwork and independent technical review ongoing.
Processing flowsheet studies comparing two processing options are described as nearly complete.
The approvals Scoping Report was gazetted, setting assessment requirements for a future Mining Lease application.
Director Robin Marshall will retire from the Board effective from the close of the 2026 AGM, with plans to continue serving on the Elizabeth Creek Project Steering Committee.

Elizabeth Creek Pre-Feasibility Study Update

Chair Keith Jones told shareholders that the company materially advanced the Pre-Feasibility Study at the Elizabeth Creek Copper-Silver Project during the past year. According to the filing, the PFS is intended to give shareholders, partners and financiers a basis for assessing value and moving to the next stage of development. Studies comparing two processing options are described as nearly complete, with processing decisions to be underpinned by testwork, engineering and independent review. The company said gazettal of the approvals Scoping Report was a key milestone, setting the assessment requirements for a future Mining Lease application.

Capital Raise and Drilling Programme Details

The company disclosed it raised approximately A$19 million before costs, comprising tranches including a final tranche received after year end. The filing referenced a $12.3 million funding round secured on 27 October 2025 and a $6.7 million placement completed on 1 June 2026 to expedite PFS workstreams. The Chair stated that capital raised has supported the completed 19-hole drilling programme and continues to fund expanded testwork and independent technical review. Jones acknowledged existing shareholders and new investors for their participation in the capital raise.

Board Retirement of Director Robin Marshall

Jones disclosed that Robin Marshall will retire from the Board effective from the close of the 2026 Annual General Meeting. The filing states that Marshall has been part of Coda since the company's founding. Jones noted that Marshall intends to continue serving on the Elizabeth Creek Project Steering Committee following his Board retirement. The Chair thanked Marshall for his longstanding service and contribution to the company's development. The filing also acknowledged CEO Chris Stevens, the Coda team, and the company's consultants and advisers.

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