Arika Resources (ASX: ARI) Raises $5M to Advance WA Gold Exploration Programs

Fri 02 May 25, 05:35 AM | Team Kalkine

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Highlights

$5 million raised via two-tranche placement at $0.023 per share

Funds allocated to Yundamindra and Kookynie Gold Projects exploration

Directors commit up to $0.7 million, pending shareholder approval

Arika Resources Limited (ASX: ARI) has secured firm commitments for a $5 million capital raising to support expanded exploration efforts across its Yundamindra and Kookynie Gold Projects in Western Australia. The placement will also contribute to general working capital requirements.

The capital raise comprises approximately 217 million fully-paid ordinary shares issued at $0.023 each, representing a 13.4% discount to the company’s five-day volume-weighted average price as of 29 April 2025. The placement is structured in two tranches: Tranche One will issue 147 million shares to raise approximately $3.4 million using existing placement capacity under ASX Listing Rules 7.1 and 7.1A. Tranche Two, pending shareholder approval, will issue 70 million shares and includes up to $0.7 million in participation from company directors and related parties.

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