Alicanto Minerals Secures $30m for Growth Drilling
Key points
- Firm commitments for $30m placement from institutional investors
- Placement to increase cash balance to ~$41m
- Funds to support aggressive drilling at Mt Henry Gold Project
Full summary
Alicanto Minerals Ltd (ASX: AQI) has successfully raised A$30 million through an institutional placement, supported by existing and new investors. The funds will bolster the company's cash position to approximately A$41 million, enabling an aggressive drilling campaign at the Mt Henry Gold Project in Western Australia. The project, which hosts a mineral resource of 915,000oz of gold, is now supported by four drilling rigs. Alicanto aims to extend the known mineralisation and explore new targets within the 16km corridor. A mineral resource update is expected in the December 2026 quarter.
Guidance
Cash balance to increase to ~A$41m after placement completion
Outlook
Alicanto Minerals expects to deliver drilling results and a mineral resource update in the December 2026 quarter.
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