Osmond Resources (ASX:OSM) has completed a strongly supported share placement, raising $6.6 million to fund its Orión EU Critical Minerals Project.
The placement, consisting of 11 million fully paid ordinary shares at $0.60 each and one free attaching option for every two shares, was cornerstoned by two existing institutional shareholders.
Pro forma cash at bank as of Dec. 31, 2025, inclusive of the placement, now exceeds $8.5 million, providing sufficient runway for Osmond's full 2026 work program.
The funds will support the company's goal of becoming the first EU producer of titanium (rutile), zircon (and hafnium), and rare earths (monazite).
The 5.5 million options issued as part of the placement are exercisable at $1.20 until Dec. 31, 2027, with settlement expected on Jan. 19.
Additional options will also be issued to Australian brokers who supported the placement.
At the time of reporting, Osmond Resources' share price was $0.64.