Javelin Minerals completed a $542,502 placement to address the shortfall of the December 2023 rights issue.

The placement involved issuing 542,502,000 new shares with attached options to sophisticated investors managed by Shaw and Partners.

The company announced board changes, appointing Brett Mitchell as executive chairman and Pedro Kastellorizos as a non-executive director.

This comes with the immediate resignations of David Sanders as a non-executive chairman and Matthew Blake as an executive director.