Kalamazoo Resources secures $10M strategic investment

• Kalamazoo Resources secured $10 million in binding commitments via a strategic share placement.
• Shares were placed at $0.18 each, representing a 29% premium to the last closing price.
• Proceeds will fund drilling and pre-feasibility studies for the Ashburton Gold Project.

Kalamazoo Resources (ASX:KZR) has secured $10 million in binding commitments to issue 55,555,554 new shares to strategic investors.

The issue price of $0.18 per share represents a 29% premium over the company's previous closing price.

Muqasab SPV Holdings will invest $7.8 million and become a 9.9% strategic shareholder on completion.

Kalamazoo’s Executive Chairman Luke Reinehr said, "Kalamazoo is entering an important phase, with its substantial Western Australian gold resource, exceptional recent drilling results and the funding to convert that technical progress into major development milestones and shareholder value."

The company stated that the capital will fund resource-growth drilling and complete the pre-feasibility study for its 1.44Moz Ashburton Gold Project.

Following the announcement, the Kalamazoo Resources share price was unchanged at $0.16.

The business continues to evaluate its Xanadu discovery as a potential secondary development opportunity in the Ashburton region.

The capital injection follows a 2026 drilling campaign at the company's flagship Mt Olympus deposit.