Alma Metals Limited has announced a pro-rata non-renounceable rights offer designed to raise approximately $1,057,564 through the issuance of up to 264,390,882 new shares. Shareholders holding six existing shares will be entitled to one new share at an issue price of 0.4 cents per new share. The new equity will provide the financial support necessary to complete a scoping study and to initiate drilling at the Briggs Copper Project, as well as to bolster working capital and cover offer-related expenses. The rights offer follows a detailed timetable with key dates to bear in mind. Shares will start trading on an “ex” basis from 27 May 2025, and a record date has been set for the same day to determine eligible shareholders. The offer document and entitlement form will be sent to shareholders on 2 June 2025, when the offer also officially begins. Trading of the new shares will commence on a deferred settlement basis on 16 June 2025, with the final results announced on 26 June 2025, at which point final settlement trading and the issuance of the new shares will conclude. It should be noted that the offer is not underwritten and carries a minimum subscription requirement of $500,000, with eligibility limited strictly to shareholders with a registered address in Australia or New Zealand. The raised funds are intended to support development at Alma Metals Limited’s flagship Briggs Copper Project in Queensland, which boasts approximately 2 million tonnes of contained copper. The project’s potential benefits are further underscored by its strategically advantageous location in a top-tier mining jurisdiction with access to deep-water ports, power lines, railway networks, gas pipelines, and major highways. The company also holds an early-stage East Kimberley Copper Project in Western Australia, providing additional exploration opportunities. There are mixed market sentiments regarding the new offer. On the bullish side, the injection of funds is expected to accelerate exploration and drilling activities at the Briggs project, potentially enhancing the economic viability of the asset and supporting future growth. Furthermore, the project’s exceptional infrastructure and strategic location could lead to substantial operational efficiencies and improved investor confidence. Conversely, bearish sentiment stems from the dilution risk inherent in the rights issuance, as the issuance of additional shares could potentially impact earnings per share in the short term. The high minimum subscription threshold and limitation to domestic shareholders may also be viewed as restrictive by some, potentially curbing broader investor participation.