Anax Metals Limited (ASX:ANX)

ALERT: Price-sensitive ASX Announcement for ANX

Current share price for ANX : $0.028 0.005 (21.74%)⁺

Announcement

$10 Million Capital Raising

Release

18 Mar 2026 9:43AM

Price at Release

$0.023

Full Release

Summary

Anax Metals Limited announced a $10 million capital raising through firm commitments from new and existing institutional, professional, and sophisticated investors. This capital raising will be conducted via a two-tranche placement, issuing approximately 434.8 million new shares at $0.023 per share. The funds will be used for debt repayment, project development, exploration activities, and general working capital. The placement positions Anax to advance the Whim Creek Copper Project and strengthens its balance sheet for upcoming debt and off-take discussions. Key participants include Jetosea Pty Ltd and Gold Valley, with directors of Anax also committing to subscribe, subject to shareholder approval. The company anticipates a strengthened pro-forma cash position of around $7 million following the placement.

Key Points

$10 million capital raising announced by Anax Metals Limited.
Firm commitments received from institutional, professional, and sophisticated investors.
Two-tranche placement to issue approximately 434.8 million new shares at $0.023 per share.
Funds to be used for debt repayment, project development, exploration, and working capital.
Placement strengthens Anax's position for Whim Creek Copper Project.
Strengthened pro-forma cash position expected at ~$7 million.
Key participants include Jetosea Pty Ltd and Gold Valley.
Directors of Anax commit to subscribe, subject to shareholder approval.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.