Highlights:

  • Core Energy Minerals secured firm commitments for a $3.025 million Placement at $0.006 per share.
  • The placement received support from new and existing institutional, professional and sophisticated investors.
  • Substantial Shareholder Jose Luis Manzano committed $1 million, increasing his holding to 19.7%.
  • Funds will support drilling at the Barking Gecko Prospect and maiden JORC Resource work at the Nova Uranium Project.
  • The Capital raising will be completed through a two-tranche placement of up to approximately 504 million shares.

Core Energy Minerals Limited (ASX:CR3) has secured firm commitments for a $3.025 million capital raising to support exploration activities at its Nova Uranium Project in Namibia, with funds directed towards drilling, resource definition work and broader corporate requirements.

The placement is expected to strengthen the company’s ability to accelerate exploration across its strategic land position in Namibia’s Erongo uranium province, where Core Energy is focused on advancing its uranium assets.

Capital Raising Details

Core Energy Minerals received firm commitments for a two-tranche placement of up to approximately 504 million new shares at an issue price of $0.006 per share, raising gross proceeds of $3.025 million before costs.

The issue price represents a 25% discount to the last traded price of $0.008 and an 18% discount to the 15-day volume-weighted average price (VWAP) of $0.0073 as at the close of trading on 1 September 2026.

The first Tranche involves the issue of up to 178.08 million shares, including 106.85 million shares issued under the company’s existing ASX Listing Rule 7.1 placement capacity and 71.235 million shares under its ASX Listing Rule 7.1A capacity.

The second tranche comprises up to 326.08 million shares and remains subject to shareholder approval at a future general meeting.

The placement attracted participation from institutional, professional and sophisticated investors, along with continued backing from existing shareholders.

Shareholder Support

A key component of the capital raising was the participation of Core Energy Minerals substantial shareholder Jose Luis Manzano, who committed $1 million to the placement.

Following completion of the investment, Mr Manzano’s total shareholding is expected to increase to 19.7%.

Mr Manzano is the Founder and President of Integra Capital, an international Investment firm, and has previously supported several ventures involving members of Core Energy’s Board.

Core Energy Minerals Managing Director Tony Greenaway said the company had received strong support from both new and existing investors, highlighting the continued backing from Mr Manzano and other shareholders.

Mr Greenaway said the placement would allow Core Energy to accelerate exploration across its uranium tenure in Namibia, with field work commencing immediately.

Nova Uranium Project Focus

Funds raised through the placement will primarily support activities at the Nova Uranium Project, including drilling at the Barking Gecko Prospect and work towards defining a maiden JORC Resource.

The company also plans to allocate part of the funds towards general Working Capital and costs associated with completing the capital raising.

Core Energy stated that the strengthened funding position will support its exploration program across Namibia’s Erongo uranium province, a region where the company is advancing its uranium-focused activities.

Director Participation and Placement Structure

Subject to shareholder approval, Core Energy Chairman Chris Gale, Managing Director Tony Greenaway and Non-Executive Director David Vilensky have committed to participate in the placement.

The directors have committed investments of $50,000, $30,000 and $20,000 respectively, with their allocations included within the second tranche of the placement.

The director participation securities will be issued on the same terms as unrelated investors participating in the capital raising.

The placement shares will rank equally with existing ordinary shares.

Subject to shareholder approval, participants will also receive one free-attaching unlisted option for every three placement shares issued. The Options will have an exercise price of $0.011 and an expiry period of three years from the date of issue.

Funding Timeline

Core Energy expects to issue the first tranche placement shares on or around 11 September 2026.

The second tranche placement shares, including director participation shares, and placement options are expected to be issued following shareholder approval at an Extraordinary General Meeting anticipated to take place in mid-October 2026.

Canaccord Genuity (Australia) Limited is acting as lead manager for the placement. The lead manager will receive a capital raising fee of 4%, a management fee of 2% of gross proceeds, and an allocation of 25 million options on the same terms as the placement options.

Company Portfolio

Core Energy Minerals is a critical minerals exploration company with Assets across tier-one Mining jurisdictions, including projects in Brazil, Australia and Southern Africa.

The company is currently focused on rare earth elements and uranium projects in Brazil and Australia, as well as uranium projects in Namibia.

Through its portfolio, Core Energy is pursuing exploration opportunities across critical minerals and uranium sectors while evaluating options to expand its land position across its operating jurisdictions.

Investor Takeaway

Core Energy Minerals’ $3.025 million placement provides funding support for exploration activities at the Nova Uranium Project, including drilling and maiden resource definition work. Investors may continue to monitor progress at the Barking Gecko Prospect, shareholder approval processes associated with the second tranche placement, and upcoming exploration activities across the company’s uranium portfolio.