Copper Search Limited has announced an entitlement offer aimed at raising approximately A$504,364 before expenses. Eligible shareholders holding existing shares as of the record date have the right to apply for one new share for every four shares held at an issue price of A$0.017 per new share. In addition, shareholders will receive one free attaching option for every two new shares, with an exercise price set at A$0.034 and an expiry date of 31 July 2027. The announcement details that if fully subscribed, the offer will increase the total number of shares and options in issue, and any unclaimed entitlements may be made available through a shareholder shortfall offer or a public shortfall offer. The capital raising is supported by parallel arrangements including a private placement targeting sophisticated and professional investors to raise approximately A$408,526. There is an additional Conditional Placement designed to raise further funds of about A$441,474, subject to shareholder approval. The proceeds from this capital raise will be primarily allocated to targeted delineation and high-impact air-core drilling to unlock new heavy mineral sands potential in South Australia, to support further project generation in that state and New South Wales, as well as to finance business development and general working capital requirements. The detailed timetable provided in the prospectus outlines key dates from the initial trading halt to the final issuance of the new shares and options. With trading resuming on an ex-entitlement basis and the offer opening on 5 June 2025, the process is designed to maintain continuity while ensuring that eligible shareholders have a clear window to participate. The offer is non-renounceable, meaning that entitlements cannot be traded, and shareholders who do not apply in full risk experiencing significant dilution of their shareholding. Investors looking at the news may view the capital raise as a bullish move, as it provides Copper Search Limited with a robust funding base to pursue exploration activities and unlock potentially valuable mineral opportunities, which could yield strategic advantages in a competitive resources market. On the other hand, the speculative nature of the offer, combined with uncertainties inherent in exploration activities and the risk of dilution for non-participating shareholders, injects a bearish sentiment for those cautious about investment in early-stage resource ventures.