Daly Resources lists on ASX after capital raise

• Daly Resources completed its listing on the Australian Securities Exchange following an initial public offering.
• The listing followed a capital raise that issued 48 million ordinary shares at $0.25 each.
• The company plans to deploy the capital into mineral exploration activities across its Northern Territory portfolio.

Daly Resources (ASX:DLY) has listed on the Australian Securities Exchange following an initial public offering that raised $12 million through the issue of 48 million shares.

This initial public offering achieved its target issuance price of $0.25 per share to secure the funding required for its upcoming exploration programme.

“The Daly Resources team wishes to thank shareholders for their support as the company builds a significant and leading critical minerals and base metals exploration business,” said Daly Resources Executive Chairman Mike Edwards.

The company stated that the capital will fund exploration activities across its fluorite, copper, and zinc prospects in the Northern Territory, with an immediate focus on the Huckitta project.

Following the announcement, the Daly Resources share price was unchanged at $0.25.

Founded in 2022, the Perth-based mineral exploration company holds multiple project areas, including Huckitta, Broughton, Batten, Beetaloo, and Bulman-Jimbu.

The business explores for critical minerals like fluorite, which has essential applications in semiconductor technology, artificial intelligence infrastructure, and nuclear fuels.