WA1 Resources to Raise AU$100 Million via Share Placement; Shares Fall 12%

MT Newswires Live2025-08-15

WA1 Resources (ASX:WA1) received firm commitments to raise AU$100 million through a placement of about 5.9 million new shares at AU$17 apiece to new and existing institutional investors, according to a Friday filing with the Australian bourse.

The offer price is around a 9.4% discount to the stock's five-day volume-weighted average price, the filing said.

The shares are expected to be settled around Aug. 21, the filing added.

Proceeds will be used to fund activities and capital expenditure at the company's project in Western Australia, administration, corporate costs, and general working capital, the company said.

Shares of the company fell 12% in recent Friday trade.

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