Astral secures $65M to advance Mandilla Gold - ICYMI

Core Viewpoint - Astral Resources NL has secured $65 million through a placement to support the development of the Mandilla Gold Project and ongoing exploration in Western Australia, with a focus on finalizing the Definitive Feasibility Study (DFS) and expanding drilling programs [1][3]. Funding and Financial Strategy - The funds will be allocated to complete the DFS, expand drilling programs, and support early development works at Mandilla, with additional drilling planned at Kamperman and Feysville [1][6]. - The DFS is on schedule for completion in the June 2026 quarter, with a final investment decision expected by September [2][8]. - The peak funding requirement for the Mandilla project is estimated at $227 million, with the company exploring a potential 60:40 or 70:30 debt-to-equity structure to close the funding gap [3][11]. Project Development and Approvals - The company is progressing with environmental and operational approvals, including the mine development and closure plan, aiming to secure these approvals by the September quarter [2][9]. - The funding will also support early works at Mandilla, with a significant portion expected to go towards project development costs [7][10]. Market Position and Future Outlook - The Managing Director indicated that the market may be surprised by how close the company is to full funding, with further updates anticipated before the end of the year [3][11]. - Revenue from a proposed joint venture at Think Big is expected to contribute to closing the funding gap for Mandilla [3][10].