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Kalamazoo Resources Limited (ASX:KZR)

ALERT: Price-sensitive ASX Announcement for KZR
Current share price for KZR : $0.140 -0.025 (-15.15%)+
Announcement
Release
6 Feb 2026 5:34PM
Price at Release
$0.165
Full Release
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Summary
Kalamazoo Resources Limited (ASX: KZR) announced it has successfully raised $4.1 million through an oversubscribed Share Purchase Plan (SPP) to accelerate its Ashburton Gold Project (AGP). The SPP attracted approximately $8.6 million in applications against a target of $2 million, prompting the company to accept oversubscriptions. The funds will support resource delineation, exploration drilling at the AGP, Mt Olympus Pre-Feasibility Study, and general working capital. The SPP closure was part of a broader $12.1 million financing effort, including a previously completed placement. The strong demand from shareholders underscores confidence in Kalamazoo's strategy to fast-track development of its 1.44 million ounce Ashburton Gold Project, with plans for extensive drilling and pre-feasibility works in progress.
Key Points
  • Kalamazoo Resources raised $4.1 million through an oversubscribed SPP.
  • The SPP applications totaled approximately $8.6 million, exceeding the $2 million target.
  • The funds will accelerate the Ashburton Gold Project and support other studies and capital needs.
  • Strong shareholder participation reflects confidence in the company's development plans.
  • The SPP was launched alongside an $8 million placement, contributing to a total of $12.1 million raised.
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.