Highlights

  • Lithium Plus Minerals (ASX:LPM) has lodged an Appendix 3B Proposed Issue of Securities with the ASX, following completion of a Capital Placement raising approximately A$2.15 million.
  • Funds from the placement are intended to support the ongoing development of the Bynoe Lithium Project, the company's primary exploration asset in the Northern Territory.
  • The shares were issued at A$0.10 per share, with a total of 21,500,000 new ordinary fully paid shares issued under the placement.
  • The capital raise supports Lithium Plus Minerals' broader strategy of advancing lithium exploration and processing studies as it works toward improving the commercial proposition of its project portfolio.

Lithium Plus Minerals Limited (ASX:LPM) has announced a proposed issue of securities via an Appendix 3B filing with the Australian Securities Exchange, following the completion of a capital placement conducted during the quarter. The placement raised approximately A$2.15 million, with proceeds directed toward advancing the company's Bynoe Lithium Project in the Northern Territory.

Details of the Proposed Issue of Securities

The Appendix 3B announcement sets out the formal details of the proposed issue, consistent with ASX Listing Rule requirements for companies seeking to issue Equity securities outside pre-approved capacity. A total of 21,500,000 new ordinary fully paid shares were issued at A$0.10 per share, and the company has subsequently lodged an Application for Quotation of these securities to have them listed and tradeable on the ASX.

The placement was conducted at a price of A$0.10 per share, representing the issue price at which the new shares were offered to investors. The securities are ordinary fully paid shares ranking equally with all existing Issued Shares in that class. The company applied for quotation of the placement shares in late April 2026, with the shares admitted to official quotation shortly thereafter, bringing the total ordinary shares on issue to 154,340,000.

Strategic Context of the Capital Raise

The proceeds of the placement are directed toward the continued development of the Bynoe Lithium Project, Lithium Plus Minerals' primary exploration asset in the Northern Territory. The capital raise provides funding for ongoing geological and metallurgical studies, exploration activities, and corporate Working Capital requirements.

The company's capital strategy has involved a combination of placements and strategic transactions, reflecting the typical funding environment for early-stage mineral explorers. Lithium Plus Minerals has indicated its interest in developing a processing pathway with access to the Chinese battery materials market, with a proposed flotation plant in China identified as a potential element of its strategy. The company's Shareholder register includes strategic investors from the battery Supply chain, providing both financial support and potential commercial linkages.

Lithium Market Background and Project Fundamentals

The proposed issue of securities follows a period of active corporate and operational development for Lithium Plus Minerals. The company is also managing its interest in Moonlight Resources, which has been progressing toward an ASX initial public offering. Moonlight Resources has Diatreme Limited as an incoming significant shareholder, following a transaction that involves Moonlight acquiring mineral assets, adding a further strategic element to the Lithium Plus Minerals corporate structure.

The Northern Territory lithium sector remains an area of active exploration interest given the jurisdiction's established regulatory framework and the presence of several lithium projects at various stages of development. Lithium Plus Minerals is competing for attention in a market that has seen significant lithium price adjustment from the peaks of 2022, with companies needing to demonstrate clear development pathways and commercial viability to attract sustained investor support.

Key Takeaways

The proposed issue of securities by Lithium Plus Minerals reflects the company's ongoing need for capital to advance its Northern Territory lithium exploration activities. The placement provides a near-term funding runway for the Bynoe Lithium Project, while the company's broader corporate activities, including its Moonlight Resources involvement, add strategic dimensions to its Investment proposition. Progress on the Mineral Resource Estimate and processing studies at Bynoe will be key indicators of value creation in the periods ahead.