FireFly Metals Announces Share Purchase Plan to close early
Globenewswire·2025-12-16 22:22

Core Viewpoint - FireFly Metals Ltd has successfully received applications for its Share Purchase Plan (SPP) that significantly exceed the targeted raising amount of A$5 million, prompting an early closure of the SPP [1][2]. Company Overview - FireFly Metals Ltd is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project located in Newfoundland, Canada [6]. - The company holds a 70% interest in the Pickle Crow Gold Project in Ontario, which has an Inferred Mineral Resource of 11.9 million tonnes at a grade of 7.2 grams per tonne for 2.8 million ounces of gold [8]. - Additionally, FireFly holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia [8]. Share Purchase Plan (SPP) Details - The SPP opened on December 10, 2025, and will close early at 5:00 PM (AWST) on December 19, 2025, due to the positive response [2][4]. - The company reserves the right to accept oversubscriptions in compliance with ASX Listing Rules and the Corporations Act 2001 [3]. - New fully paid ordinary shares under the SPP are expected to be issued on December 30, 2025 [3][4]. Mineral Resource Estimates - The Green Bay Copper-Gold Project hosts a total of 50.4 million tonnes of Measured and Indicated Mineral Resources at a grade of 2.0% for 1,016,000 tonnes of copper equivalent [7][24]. - The Inferred Mineral Resource for the Green Bay Project stands at 29.3 million tonnes at a grade of 2.5% for 722,000 tonnes of copper equivalent [7][24]. - The Pickle Crow Gold Project has an Inferred Mineral Resource of 11.9 million tonnes at a grade of 7.2 grams per tonne for 2.8 million ounces of gold [8][12]. Financial Metrics - The company has calculated metal equivalents based on a copper price of US$8,750 per tonne, a gold price of US$2,500 per ounce, and a silver price of US$25 per ounce [13][24]. - The metallurgical recovery rates used in calculations are 95% for copper and 85% for both gold and silver, based on historical performance [13][24].