Highlights

  • Eagle Mountain secures firm commitments of AUD 1.66M through a share placement.
  • Company proposes a non-renounceable entitlement issue to raise about AUD 1.9M.
  • Funds expected to support exploration, business development, and general working capital.

Eagle Mountain Mining Limited (ASX:EM2) announced firm commitments to raise AUD 1.66M via the issuance of 183.9M ordinary shares at AUD 0.009 per share. The issue price represents a 12.5 percent premium to the Company’s 10-day VWAP of AUD 0.008 and an 11 percent discount to its 30-day VWAP of AUD 0.01.

The placement will be completed using the Company’s existing placement capacity under Listing Rules 7.1 and 7.1A. Of the total shares, 70,396,271 will be issued under Listing Rule 7.1, and 113,503,729 will be issued under Listing Rule 7.1A. In addition, applicants will receive one free attaching option for every three new shares, with the option component requiring shareholder approval.

Allotment of the placement shares and commencement of trading are targeted for 20 November 2025. Lead management services are being provided by Prenzler Group Pty Ltd and Alto Capital, who will receive a 6 percent fee on funds raised and 30M options on the same terms as the attaching options, subject to shareholder approval.

Entitlement Issue Overview

The Company also plans to undertake a non-renounceable entitlement offer aiming to raise approximately AUD 1.9M before costs. Eligible shareholders will be offered one new fully paid ordinary share for every six shares held as of 25 November 2025, at an issue price of AUD 0.009 per share.

The entitlement issue includes one free unlisted attaching option for every three new shares subscribed, exercisable at AUD 0.02 on or before 30 November 2028. Eligible participants include shareholders with registered addresses in Australia, New Zealand, Malaysia, Singapore, and the United Kingdom. The offer is expected to open on 28 November 2025 and close on 17 December 2025.

Allocation of Funds

Combined proceeds from the placement and entitlement issue, totaling approximately AUD 3.6M, are intended for exploration at the Silver Mountain Project (AUD 0.6M), business development and assessment of new opportunities (AUD 1.3M), general working capital (AUD 1.5M), and offer costs (AUD 0.2M).

Near-Term Priorities

The Company’s upcoming focus areas include finalising due diligence with Nittetsu with the objective of progressing a binding agreement, reassessing the Silver Mountain copper-silver-gold project in Arizona in light of recent developments, and reviewing new project opportunities for potential acquisition in the short to medium term.

Share Performance of EM2

EM2 was trading 25% higher at AUD 0.010 per share as of 11 November 2025 at the time of writing.