Highlights

  • Emu NL raises AUD 1.404M through placement of 39 million shares to investors.
  • Drilling at Yataga Copper Project expected to start by the last week of November 2025.
  • Funds to support extended 2026 drilling program, including Fiery Creek and Yataga Valley.

Emu NL (ASX:EMU) has received firm commitments to issue 39,000,000 fully paid ordinary shares at AUD 0.036 per share, raising AUD 1.404M before costs. The placement is conducted using the company’s available ASX Listing Rule 7.1 and 7.1A capacities, with 32,000,000 shares issued under Rule 7.1 and 7,000,000 under Rule 7.1A.

The placement price represents a 23.1% discount to the 15-day volume weighted average price (VWAP) of AUD 0.04679 and an 18.2% discount to the last traded price of AUD 0.044. In addition, participants may be issued unlisted options on a 1-for-2 basis at an exercise price of AUD 0.07 per option, subject to shareholder approval.

Martin Place Securities has been appointed as lead manager for the placement. A 5% fee applies on the funds raised. The shares are expected to be issued and commence trading on 21 November 2025, ranking equally with existing shares.

Capital Structure Following Placement

After completion of the placement:

  • Total fully paid ordinary shares: 286,165,546
  • Total options outstanding: 99,546,271 (various exercise prices and expiry dates)

The placement does not constitute a shortfall from the previous Non-Renounceable Rights Issue and is issued from the company’s available ASX placement capacity.

Use of Funds

Funds raised under the placement are planned to partially fund an extended drilling program in 2026, targeting up to 19,000m of reverse circulation drilling. The program is expected to include infill drilling at Fiery Creek and initial testing of larger porphyry targets at Yataga Valley. Additional uses include analysis of drilling results, offer-related costs, potential contingent liabilities, and working capital requirements.

Yataga Drilling Program Update

Drilling at the Yataga Copper Project was delayed due to severe bushfire activity in the region. The latest assessment indicates that drilling may commence by the last week of November 2025, subject to access and continued fire risk monitoring. The company has highlighted that further disruption cannot be excluded, and updates will be provided via ASX announcements as required.

Share Performance of EMU

EMU was trading 15.90% higher at AUD 0.051per share as of 14 November 2025 at the time of writing.