$250m Placement Funds Bullabulling Gold Project Development

Key points

• $250 million raised via two-tranche placement
• Includes $30 million from Franco-Nevada
• Funds to accelerate Bullabulling Gold Project development

Full summary

Minerals 260 Limited (ASX:MI6) announced a $250 million capital raising through a two-tranche placement to fund the development of the 6.2 million ounce Bullabulling Gold Project in Western Australia. The placement includes a $30 million cornerstone commitment from Franco-Nevada. The proceeds, combined with existing cash and additional funding from Franco-Nevada, will support ongoing development and construction activities. The company expects to secure additional funding through traditional project finance. The placement received strong support from existing and new institutional shareholders.

Guidance

Total pro-forma cash balance will be ~$633 million

Outlook

Minerals 260 expects to be fully funded ahead of the planned Final Investment Decision in early 2027.