$1.6M raise fuels Askari's gold-copper push

Core Insights - Askari Metals Ltd has acquired full ownership of Hong Kong Xingxu Mining International Investment, gaining complete rights to the Nejo Gold and Copper Project in Ethiopia [1][9] - The project consists of three licenses valid until March 2028, providing a multi-year window for exploration and feasibility work [2][9] - A recent AUD 1.6 million capital raise through a rights issue demonstrates shareholder alignment with the company's exploration strategy, with most funds directed towards Nejo [3][11] Project Development - The acquisition allows Askari Metals unencumbered access to explore and conduct activities in Ethiopia, supporting its broader African exploration strategy [10][9] - Initial exploration activities commenced approximately two and a half weeks ago, focusing on community engagement and preparation for the maiden drilling campaign [5][14] - The company is digitizing historical exploration data to enhance drill targeting and inform program design, with plans extending into 2026 [6][15] Funding and Exploration Plans - The capital raise enables the company to run multiple workstreams simultaneously, including an initial diamond drilling campaign, infill and extensional trenching, and aerial geophysical surveys [4][12] - In addition to Nejo, Askari plans to recommence exploration at the Oelsner Project, targeting tin, tantalum, and rubidium, which will support ongoing news flow [7][13] - The company emphasizes the importance of community support and historical data access in preparing for the exploration campaign [5][15]