Sultan Resources Limited (ASX:SLZ)

ALERT: Price-sensitive ASX Announcement for SLZ

Current share price for SLZ : $0.007 -0.004 (-36.36%)⁺

Announcement

Sultan Completes Successful Strategic Placement

Release

13 Oct 2025 9:23AM

Price at Release

$0.011

Full Release

Summary

Sultan Resources Limited announced the successful completion of a strategic placement to raise $1 million for the expansion of its exploration assets and strategic growth initiatives. The placement was supported by new and existing professional and sophisticated investors at a 13.2% premium to the 15-day VWAP. Funds will advance the acquisition of the Damara Gold Project in Namibia, Narndee Nickel-PGE project, and Niobe Rubidium deposit in Western Australia. The company will issue 111.11 million shares at an issue price of $0.009, with participants receiving one free-attaching option for every two new shares. The placement will occur in two tranches, with the first tranche expected to settle on 17 October 2025 and the second subject to shareholder approval. Xcel Capital Pty Ltd will act as the lead manager for the placement.

Key Points

Successful completion of $1 million strategic placement.
Placement supported by professional and sophisticated investors.
Funds to support strategic expansion and project acquisition.
Shares issued at a 13.2% premium to 15-day VWAP.
111.11 million shares to be issued at $0.009 per share.
Participants receive one option for every two new shares.
Placement to settle in two tranches, with shareholder approval needed for the second.
Xcel Capital Pty Ltd acts as lead manager.

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.