Warriedar Resources Limited has successfully secured firm commitments for a A$17 million equity placement, issuing 170 million fully paid ordinary shares at A$0.10 each. The offering attracted significant interest from high-quality institutional investors in Australia and North America, and the placement price was set at a marked discount – approximately 13% below the previous closing price of A$0.115 and further discounted relative to recent volume-weighted averages. The transaction is scheduled for settlement on 4 June 2025, with shares expected to commence trading on 5 June 2025. In addition to the placement, Warriedar is launching a Share Purchase Plan (SPP) for eligible existing shareholders, offering an opportunity to raise up to A$2 million at the same issue price. The SPP allows shareholders to apply for new shares without incurring brokerage fees, with a record date set for 27 May 2025 and the SPP opening on 3 June 2025. While participation in the SPP is optional, the company retains the discretion to accept or reject applications based on several factors, including the size of an investor’s holding and the timing of the application. The funds raised through the placement and SPP, totalling up to A$19 million before costs, will be allocated to fast-tracking the development of the flagship Ricciardo deposit at the Golden Range Project in Western Australia. This strategic initiative includes advancing a high-impact drilling program—with plans for over 50,000 meters of drilling using multi-rig operations—to enhance and upgrade the resource base. The company is currently operating two diamond drill rigs at Windinne Well and Ricciardo, with a third rig dedicated to antimony-focused reverse circulation drilling set to begin next month. Early assay results from this program are anticipated in June 2025, with further resource upgrades planned for the December quarter. Bullish sentiment surrounds the announcement due to the robust capital raise, which positions Warriedar Resources Limited to significantly accelerate development at Ricciardo, an asset already noted for delivering Australia’s largest open-pit antimony resource with over 60 kt contained antimony alongside an expanding gold resource of over 1 Moz. The discount pricing could also attract new investors. However, bearish views may arise from concerns over potential dilution from the additional 170 million new shares and the optional SPP, as well as the execution risks associated with the aggressive drilling and exploration plans. The company’s ambitious timetable and dependability on forthcoming drilling results contribute to a cautious approach from some investors. Overall, the financial maneuvering sets a clear path for accelerating growth at the Golden Range Project, with the funds earmarked for drilling, engineering studies, and geoscience initiatives, supporting the broader strategy to expand gold-antimony resources along the mineralised corridor.