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Plc Resources Limited (ASX:PLC)

ALERT: Price-sensitive ASX Announcement for PLC
Current share price for PLC : $0.008 0.001 (14.29%)+
Announcement
Release
4 Nov 2025 8:26AM
Price at Release
$0.007
Full Release
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Summary
Premier1 Lithium Limited announced that their Renounceable Entitlement Offer, initially set to raise $1.8 million, has concluded with an oversubscription, leading to a total of $2,171,303 raised before costs. The company received strong support from both existing shareholders and new investors, prompting a top-up placement of $331,000 through their existing placement capacity to accommodate the excess demand. The funds will be utilized to advance exploration activities and growth opportunities in the Yalgoo and Abbotts North Projects, as well as for general working capital. A total of 434,260,582 new shares and 217,130,291 new options, exercisable at $0.015 by 2028, will be issued. Mahe Capital Pty Ltd served as the Lead Manager and Underwriter for the offering.
Key Points
  • Renounceable Entitlement Offer aiming to raise $1.8 million closes oversubscribed.
  • Significant backing from existing shareholders and new investors.
  • Additional top-up placement of $331,000 to meet excess demand.
  • Funding to support exploration and growth at Yalgoo and Abbotts North Projects.
  • Total raised amounts to $2,171,303 before costs.
  • Total of 434,260,582 new fully paid ordinary shares and 217,130,291 new options issued.
  • Mahe Capital acted as Lead Manager and Underwriter.
  • Proceeds allocated for heritage surveys, drilling, and working capital.
  • New options exercisable at $0.015, expiring 6 November 2028.
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.