Highlights

  • Hawk Resources shares rose 6.90% to AUD 0.031 on 13 May 2026, as investors reacted positively to a Capital raising update.
  • The company announced a capital raising of up to AUD 5.87 million.
  • Firm commitments were received for a AUD 3.0 million Placement supported by institutional and high-net-worth investors.
  • Hawk also launched a non-renounceable entitlement offer targeting approximately AUD 1.97 million.
  • A further top-up placement of up to AUD 900,000 may be completed subject to Demand.
  • The placement price of AUD 0.03 per share represented a premium to the company’s closing price before the Trading halt.
  • New shares issued under the capital raising will rank equally with existing shares on issue.

Hawk Resources Ltd (ASX:HWK) shares moved higher during the morning session on 13 May 2026, rising 6.90% to AUD 0.031 after the company announced a capital raising initiative worth up to AUD 5.87 million.

The market appeared to respond positively to the funding package, which is aimed at advancing Hawk’s exploration activities across its scandium and copper projects in Australia and the United States. The announcement included firm commitments for a placement, a non-renounceable entitlement offer and a potential top-up placement, collectively designed to strengthen the company’s exploration pipeline.

Investor sentiment may also have been supported by the fact that the placement received backing from Australian institutional investors and high-net-worth investors, while the Offer Price was set at a premium to the company’s closing share price prior to the trading halt.

Hawk Launches Multi-Part Capital Raising

Hawk Resources outlined a capital raising structure targeting total proceeds of up to AUD 5.87 million before costs.

The largest component is a placement expected to raise AUD 3.0 million through the issue of 100 million shares priced at AUD 0.03 each. Investors participating in the placement will also receive one free attaching option for every two shares subscribed for.

The attaching Options carry an exercise price of AUD 0.07 and expire on 30 November 2028. However, the issue of these options remains subject to Shareholder approval.

Alongside the placement, the company announced a 1-for-8 non-renounceable entitlement offer aimed at raising approximately AUD 1.97 million.

Eligible shareholders will be able to subscribe for one new share for every eight shares already held, also at an issue price of AUD 0.03 per share. Similar to the placement structure, entitlement offer participants will receive one free attaching option for every two new shares subscribed for.

In addition, Hawk outlined a potential top-up placement of up to AUD 900,000, subject to investor demand.

Investor Support Seen as Positive Signal

The company highlighted that firm commitments had already been secured for the AUD 3.0 million placement.

Management described the level of investor participation as a favourable endorsement of Hawk’s exploration portfolio, particularly its exposure to critical minerals including scandium and copper.

Chairman Tom Eadie stated that the company had received support from both existing and new shareholders, which positions Hawk to continue progressing its exploration strategy across Australia and the United States.

The announcement also noted that Cygnet Capital Pty Ltd is acting as sole lead manager for the capital raising.

Under the arrangement, Cygnet will receive management and capital raising fees linked to the funds raised, along with options subject to shareholder approval.

Olympus Scandium Project to Receive Major Funding Allocation

A significant portion of the planned capital raising proceeds is expected to be directed toward the Olympus scandium project in Western Australia.

According to Hawk, approximately AUD 3.32 million has been allocated toward exploration activities at Olympus.

The planned work program includes initial soil sampling to verify historical scandium soil results, followed by detailed soil and rock sampling aimed at identifying higher-priority scandium zones.

The company also intends to undertake initial drilling programs targeting near-surface scandium-rich mineralisation.

The Olympus project recently progressed following the signing of a Mineral Exploration Agreement with Traditional Owners earlier in May 2026. Hawk indicated that exploration activities are anticipated to commence in June 2026, subject to ministerial approvals and completion of a cultural heritage survey.

Scandium is considered a critical mineral due to its applications in advanced alloys and emerging technology sectors, with increasing attention on Supply security and future demand trends.

Continued Drilling Planned at Cactus Copper Project

Beyond Olympus, Hawk plans to continue exploration activities at its Cactus copper project in Utah, USA.

The company allocated approximately AUD 1.7 million toward ongoing drilling activities at the project.

According to the announcement, drilling at Cactus during 2026 has already intersected near-surface copper mineralisation, and the next stage of work is expected to focus on delineating mineralisation along the approximately one-kilometre-long Cactus Corridor zone.

The continuation of drilling may help Hawk further define the scale and continuity of copper mineralisation at the project.

Copper exploration activity has remained an area of market interest given the metal’s relevance to electrification, renewable energy infrastructure and broader industrial demand.

Initial Exploration to Begin at Meerkat Project

Hawk also plans to commence work at its recently acquired Meerkat copper project in Arizona, USA.

The company allocated approximately AUD 250,000 toward initial exploration activities at the project.

Planned work includes surface sampling and geophysical surveying designed to identify potential drill targets.

According to the company, field orientation work and initial sampling activities are expected to begin during May 2026.

The Meerkat project adds another copper-focused asset to Hawk’s exploration portfolio in the United States.

Structure of the Entitlement Offer

The entitlement offer announced by Hawk is non-renounceable, meaning shareholders who choose not to participate will not be able to sell their entitlements on market.

The company stated that any shortfall securities not subscribed for under the entitlement offer may be placed with additional investors within three months of the closing date.

The same pricing terms and attaching option structure would apply to any shortfall allocation.

The capital raising timetable released by Hawk indicates that the entitlement offer is scheduled to open on 27 May 2026 and close on 19 June 2026, unless extended.

Normal trading on a T+2 settlement basis is expected to commence on 29 June 2026.

Placement Conducted at Premium to Pre-Halt Price

One aspect that may have contributed to the positive market reaction was the pricing of the placement.

Hawk noted that the AUD 0.03 issue price represented a premium to the company’s closing share price before the trading halt.

In capital raising transactions, placements are often conducted at discounts to prevailing market prices, particularly among smaller exploration companies. The premium pricing may therefore have been interpreted by some investors as a favourable indicator of demand and investor confidence.

The addition of attaching options may also provide participating investors with future exposure if the company’s exploration programs generate further market interest.

Hawk’s Broader Exploration Portfolio

Hawk Resources is focused on critical minerals exploration with exposure to copper, scandium and lithium Assets.

The company was formerly known as Alderan Resources and has positioned itself around projects linked to future-facing Commodity demand trends.

Its portfolio includes the Cactus copper project in Utah, the Olympus scandium project in Western Australia and five lithium projects located across Brazil.

Management has highlighted copper exploration as a near-term value driver, while scandium and lithium provide additional exposure to critical minerals markets.

The company is led by Managing Director Scott Caithness, who has prior experience with global Mining and exploration groups including Rio Tinto and Vedanta/Hindustan Zinc.

What Investors May Watch Next

Following the latest funding announcement, investor focus is likely to shift toward execution of the planned exploration programs and completion of the capital raising timetable.

Key milestones may include the commencement of exploration work at Olympus in June 2026, continued drilling updates from Cactus and early-stage exploration outcomes from the Meerkat project.

The progress of the entitlement offer and any additional top-up placement demand may also remain areas of market attention over the coming weeks.

For now, the announcement appears to have provided investors with greater visibility around Hawk’s funding position and exploration pipeline across multiple critical minerals projects.