$1M Placement for Gidji Drilling & Director Appointment
| Stock | Miramar Resources Ltd (M2R.ASX) |
|---|---|
| Release Time | 8 Dec 2025, 9:15 a.m. |
| Price Sensitive | Yes |
$1M Placement for Gidji Drilling & Director Appointment
- RC drilling campaign at high-priority Gidji JV gold targets scheduled for Q1 CY2026
- $1 million share placement to new and existing investors at nil discount
- Jonathan Fisher appointed as new Non-Executive Director
Miramar Resources Limited is pleased to announce an upcoming 10-12 hole (~2,500m - ~3,000m) targeted RC drilling campaign planned at the Gidji JV Gold Project (Miramar 80%), in the first quarter of CY2026. The campaign will target the high-priority Blackfriars and Highway gold targets under the Gidji Paleochannel for the first time. Both targets are characterized by ~1-kilometre long aircore anomalies with multiple gold results greater than 1g/t and coincident anomalous pathfinder elements. Miramar has received firm commitments from professional and sophisticated investors to raise gross proceeds of A$1 million (before costs) via a two-tranche share placement. The placement was priced at A$0.0025 per new share, representing a nil discount to the last traded price. Miramar's largest shareholder, Toronga Pty Ltd, and Executive Chairman, Mr Allan Kelly, have both committed to participate in Tranche Two of the Placement, subject to shareholder approval. Miramar is also pleased to announce the appointment of Mr Jonathan (Jono) Fisher as a Non-Executive Director. Mr Fisher has 20 years' experience in resources and corporate industries with strong capital markets, finance and mining industry relationships.
Miramar will continue to evaluate the Board's composition to aid growth and development as it enters 2026 with renewed energy and enthusiasm to create long-term shareholder wealth.