FireFly Metals secures $190M for Green Bay Project

• FireFly Metals secured commitments for a $190 million capital raising to progress the Green Bay Copper-Gold Project in Canada.
• The equity placement was priced at $1.78 per share, representing a discount to the previous closing price of $1.90.
• The proceeds will fund early project works, long-lead capital items, and technical studies ahead of a mid-2027 investment decision.

FireFly Metals (ASX:FFM) secured firm commitments to raise approximately $190 million to fund early works and exploration at its Green Bay Copper-Gold Project.

The equity raising consists of a $180 million institutional placement alongside a non-underwritten share purchase plan targeting up to $10 million.

The company stated that the capital raising follows the release of its preliminary economic assessment highlighting a technically and economically robust project.

New shares under the placement were offered at $1.78 per share, issuing roughly 101.1 million new fully paid ordinary shares.

Following the announcement, the FireFly Metals share price was unchanged at $1.91.

The proceeds will support a feasibility study for a 1.8Mtpa base case scenario and a pre-feasibility study on an expanded 4.6Mtpa alternative scenario.

FireFly aims to complete further resource growth drilling ahead of a final investment decision targeted for mid-2027.