Orpheus Uranium (ASX:ORP) Shares Jump 18% as A$4.25 Million Raise and New Marree Licences Widen South Australian Reach

Aditi Sarkar

09 November 2026 04:18 PM AEDT

Orpheus Uranium (ASX:ORP) Shares Jump 18% as A$4.25 Million Raise and New Marree Licences Widen South Australian Reach

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Highlights

Shares climbed 18.06% to A$0.085 on 9 November 2026, lifting Market Capitalisation to about A$36.25 million.
A Placement raised A$4.25 million at A$0.09 per share, including a 3.2 million share subscription from IsoEnergy.
Three granted Marree exploration licences add 2,735 square kilometres to a district-scale South Australian uranium project.
Placement funds support immediate Frome drilling and exploration across South Australia, the Northern Territory and Western Australia.

A strategic investor, fresh capital and a larger land package have combined to give Orpheus Uranium (ASX:ORP) momentum, with the shares gaining 18.06% to A$0.085 on 9 November 2026 and holding a 51.79% advance over twelve months. The South Australian-based explorer has been assembling a multi-jurisdiction uranium portfolio, and its latest announcements show how it plans to fund and advance it.

Placement Funds the Next Phase

On 29 July 2026, Orpheus announced a placement of about 47.2 million shares at A$0.09, raising A$4.25 million before costs. The price was a 9.0% discount to the 15-day volume-weighted average price and 4.1% below the 30-day figure. Sophisticated, institutional and professional investors participated, and IsoEnergy subscribed for 3.2 million shares. Taylor Collison acted as lead manager, receiving a 6% fee and about 2.1 million unlisted options, subject to Shareholder approval.

Proceeds are earmarked for exploration across the portfolio, including immediate drilling at the Frome project, advancing other South Australian projects towards drill-ready status, further work at Mt Douglas in the Northern Territory and progressing the Oobagooma Acquisition in Western Australia.

Marree Licences Expand the Footprint

On 18 August 2026, Orpheus announced the grant of exploration licences EL 7144, EL 7145 and EL 7146 to its Wholly Owned Subsidiary Trachre Pty Ltd. Covering 939, 935 and 861 square kilometres respectively, they total 2,735 square kilometres and extend the Marree Uranium Project, which the company describes as district-scale.

The area contains elements considered important for sediment-hosted roll-front uranium mineralisation, including uranium-enriched granites of the Mount Babbage and Mount Painter Inliers as potential sources and prospective Eyre and Namba Formation host sediments. Nearby deposits include Honeymoon and Goulds Dam.

Access and Approvals Come First

Orpheus holds a native title Mining agreement for exploration with The Dieri Aboriginal Corporation, which it intends to use to speed access over the new tenure. Drilling is planned for priority targets only once access, heritage and regulatory approvals are in place. No timeframe for drilling at Marree has been given.

Future Outlook

Planned activities include refining the geological model to define targets, completing heritage surveys over areas of interest, continuing stakeholder engagement and reviewing the tenure package. Orpheus has said exploration remains subject to consultation, approvals and access requirements.

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