Strickland Metals (ASX:STK) has finalised a $55 million institutional placement, signaling strong investor confidence in its flagship Rogozna Project in Serbia.
The equity raising, which involved the issuance of approximately 343.2 million shares at $0.16 each, saw robust participation from both domestic and international institutions.
Major shareholders Ibaera Capital maintained their 16.6% stake, while Zijin Mining Group increased its holding to 4%.
The freshly secured capital is earmarked for an aggressive development phase through 2026, including a massive 70,000-meter drilling program aimed at expanding the current 5.4Moz gold-equivalent resource.
Managing Director Paul L’Herpiniere emphasised that the funds will provide the "balance sheet flexibility" necessary to fast-track technical studies, with the company officially targeting the delivery of a pre-feasibility study in the first half of 2027.
At the time of reporting, Strickland Metals’ share price was $0.20.