Xenora Minerals acquires two projects and raises $5M
By Liezl GambeKey points
- Xenora Minerals executed binding deals worth $2.4 million to buy Western Australian exploration projects and secured $5 million in funding.
- The company's shares rose 6.98% to $0.23 following the capital raising and board appointment announcement.
- Xenora plans to fund accelerated drilling across the 115-square-kilometre landholding next to an existing copper discovery.
Xenora Minerals (ASX:XRA) agreed to acquire two adjoining Western Australian projects for $2.4 million in stock while raising $5 million from investors.
The two tenements cover 115km2 and have not undergone modern exploration despite sitting besides the Nanadie Copper Project.
Xenora will pay Breakthrough Minerals (ASX:BTM) $1.2 million in shares for 90% of the Limestone Well.
The company appointed Ray Shorrocks as executive chair and priced both the acquisition shares and the $5 million placement at $0.20 per share.
Following the announcement, the Xenora Minerals share price was up at $0.23.
Xenora previously focused on critical minerals and lithium exploration across Canada and South Australia.
Earlier in 2026, the company continued its Dudley Lithium Project farm-in and raised $2.1 million in October 2025.
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