Highlights

  • Altair receives AUD13 million commitments to support ~15,000m drill program at Greater Oko.
  • Placement priced at AUD 0.016 per share, reflecting discounts to recent trading levels.
  • Funds directed to drilling, ground programs, camp construction, and working capital needs.

Altair Minerals Limited (ASX:ALR) has secured firm commitments totalling AUD 13 million through an investor-led institutional placement comprising 812.5 million fully paid ordinary shares issued at AUD 0.016 each. The company reported participation from internationally recognised mining institutions and noted that a major asset manager is set to become a substantial shareholder following completion of the placement.

The issue price reflects a 15.8% discount to the company’s last traded price of AUD 0.019 on 5 November 2025 and a 15.6% discount to the 15-day volume-weighted average price of AUD 0.01897. Shares will be issued under existing placement capacities, with 700 million shares to be allotted under ASX Listing Rule 7.1 and 112.5 million under Listing Rule 7.1A.

Settlement of the placement is scheduled to occur in a single tranche on or around 14 November 2025. Argonaut Securities Pty Limited and 62 Capital Pty Ltd acted as Joint Lead Managers and Joint Bookrunners, while Morgans Financial Corporate Limited served as Co-Manager.

Strategic Focus on Greater Oko

According to the company, proceeds from the placement will fully fund a minimum drilling program of approximately 15,000 metres at the Greater Oko Project. Drilling is targeted to begin in early Q1 2026 and will include Phase I diamond drilling at North Peters (3,000–5,000m) and South Oko (10,000–12,000m).

Altair is continuing its geochemical programs at South Oko and is planning the integration of geophysics to define high-probability drill targets across North Peters and South Oko. The company also indicated plans to expand its ground works and exploration team to assess additional prospective and untested areas within the Greater Oko region.

Allocation of Placement Proceeds

The funding raised through the placement will be allocated to:

  • Geochemical and geophysical work at the Greater Oko Project.
  • Phase I diamond drilling across key North Peters and South Oko locations.
  • Permanent exploration camp construction.
  • Working capital requirements and placement-related costs.

Share Performance of ALR

ALR was trading 5.26% high at AUD 0.020 per share as of 10 November 2025.