Rumble Resources unveiled a non-accelerated, non-renounceable pro-rata entitlement offer aiming to raise around $2.9 million.
Eligible shareholders can buy one new share for every 10 existing shares at 4 cents per share.
The offer opens on May 24 and will close on June 14 unless extended. The company plans to issue up to 73,039,427 new shares.
Allocations include $840,000 each for metallurgical studies at the Earaheedy Project and drilling campaigns at the Western Queen Project.
$280,000 is designated for mapping and geochemical sampling at the Wardawarra Project, with the remainder for working capital and offer costs.