$1.25M Placement Secured to Advance Zopkhito Sb-Au Project
| Stock | Krakatoa Resources Ltd (KTA.ASX) |
|---|---|
| Release Time | 4 Feb 2026, 9:35 a.m. |
| Price Sensitive | Yes |
$1.25M Placement Secured to Advance Zopkhito Sb-Au Project
- Firm commitments received to raise $1.25 million via a strongly supported placement
- Funds will be used to prepare for Phase 2 drilling program at Zopkhito, set to commence in Q2 2026
- Zopkhito hosts a foreign resource estimate of 225Kt @ 11.6% Sb and 7.1Mt @ 3.7g/t for 815,119oz of Au
Krakatoa Resources Ltd (ASX: KTA) has received firm commitments to raise $1.25 million (before costs) via a placement of 138,888,889 new fully paid ordinary shares at an issue price of $0.009 per share. Placement participants will also receive one free-attaching quoted option (ASX: KTAOD) for every two shares subscribed for, exercisable at $0.02 and expiring on 29 September 2028. The funds will be used to advance geological modelling and prepare for the Phase 2 drilling program at the Zopkhito Antimony-Gold Project, expected to commence in Q2 2026. The program will include targeted surface and underground drilling and metallurgical test work. Zopkhito hosts a foreign resource estimate of 225Kt @ 11.6% Sb for a contained 26,000 tonnes of Sb and 7.1Mt @ 3.7g/t for 815,119oz of Au. Recent drilling results have confirmed high-grade antimony and gold mineralization, validating the historical data across the Zopkhito system. The placement was supported by new and existing institutional and sophisticated investors, and the company welcomes new shareholders to the register.
The funds raised will be used to advance geological modelling and prepare for the Phase 2 drilling program at the Zopkhito Antimony-Gold Project, expected to commence in Q2 2026. The program will include targeted surface and underground drilling and metallurgical test work.