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Krakatoa Resources raises $2.4M for European project
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Krakatoa Resources raises $2.4M for European project

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  • Krakatoa Resources secures $2.4 million to fund its initial 10% stake in the Zopkhito Antimony-Gold Project.
  • The placement was priced at $0.006 per share, representing a 14.3% discount to the last closing price.
  • The funds will support exploration programmes, bulk sampling, and progress towards a maiden JORC mineral resource estimate.

Krakatoa Resources (ASX:KTA) has secured firm commitments to raise $2.4 million through a share placement to acquire an initial 10% stake in the Zopkhito Antimony-Gold Project.

The company issued 400 million new ordinary shares at $0.006 each, representing a 14.3% discount to the last closing price.

"This placement marks the first step to 80% ownership of Zopkhito while accelerating the 2026 resource definition programmes and development activities," said Krakatoa Resources Executive Chairman Colin Locke.

The company stated that US$875,000 of the proceeds will go towards the initial project stake, with the remaining capital allocated to exploration, resource drilling, and working capital.

Following the announcement, the Krakatoa Resources share price was unchanged at $0.006.

Hong Kong-based private investor Hui Ling anchored the raising with an $1.8 million commitment, giving her a 14.9% stake in the expanded share capital.

The company restructured its earn-in agreement in April to create a phased path towards securing up to an 80% interest in the Georgian asset.

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