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Completion of Tranche 1 of Placement and Valuation Update
Globenewswire· 2026-03-06 13:52
Group 1: Placement Announcement - The company has completed Tranche 1 of its placement, raising gross proceeds of approximately C$5.90 million (around A$6.20 million) [1] - The company expresses gratitude towards new and existing shareholders for their support [1] - Tranche 2 of the placement is pending shareholder approval, which will be sought at the upcoming Annual General Meeting anticipated in May 2026 [1] Group 2: Valuation Update - The company will reduce the holding value of its investment in Elementum 3D by C$12.84 million (A$13.18 million) due to updated valuation data reflecting current market conditions [2] - This updated valuation will be included in the financial report for the year ended 31 December 2025, which is expected to be finalized and released shortly [2] Group 3: Impairment of Tenements - An impairment of C$10.36 million (A$10.67 million) will be recognized based on the value of tenements held at the end of the reporting period [3] - This impairment aligns with the company's accounting policies and is consistent with previous annual adjustments [3] - The impairment update will also be included in the financial report for the year ended 31 December 2025, expected to be released shortly [3]