Resources & Energy Group (ASX:REZ) has raised $2 million through a placement of 142.86 million shares at $0.014 each, with one free-attaching option for every two shares, expiring in June 2027.
The capital raise, supported by both new and existing sophisticated investors, will fund drilling, resource expansion, and near-term production growth at the East Menzies Gold Project in Western Australia.
The placement follows a landmark 2025 for REZ, which saw three gold pours, approval for 40,000 tonnes of onsite processing at Maranoa, and the establishment of the Gigante Grande maiden mineral resource.
Drilling is scheduled to commence on-site in late January 2026, targeting Gigante Grande, Goodenough, and Granny Venn deposits to expand resources and advance the company’s longer-term vision of a modular gold processing facility.
Whairo Capital acted as sole lead manager for the placement, while directors will also receive shares in lieu of fees on the same terms, pending shareholder approval.
At the time of reporting, Resources & Energy Group's share price was $0.016.