Wildcat Resources raises $60M via placement
- Wildcat Resources secures $60 million in capital via institutional placement.
- The new fully paid ordinary shares were issued at a price of $0.305 per share.
- Proceeds will fund early site works and project financing for the Tabba Tabba Lithium Project.
Wildcat Resources (ASX:WC8) secured firm commitments to raise $60 million through an institutional placement of approximately 196.7 million new ordinary shares.
The shares were priced at $0.305 each, representing a fixed offer price to new and existing institutional investors.
"The demand for the placement is a strong endorsement of the quality of the Tabba Tabba Project and our strategy to bring forward early development activities," said Wildcat Resources Executive Director Matthew Banks.
Funds will be allocated towards process plant front-end engineering, road and village construction, and general working capital at the site.
The company stated that the fresh capital will allow it to progress its definitive feasibility study towards a scheduled completion in 2026.
Following the announcement, the Wildcat Resources share price was down at $0.30.
The exploration company is actively advancing its flagship Tabba Tabba Lithium Project located in Western Australia’s Pilbara region.
The business continues to negotiate potential project financing and offtake agreements with commercial banks, specialist financiers, and Tier-1 customers.
