FireFly Metals Ltd has launched an equity raising of approximately A$180 million before costs to advance its Green Bay Copper-Gold Project in Canada.

The funding package comprises a A$150 million institutional placement on the Australian Securities Exchange and a ~C$29.6 million bought deal financing on the Toronto Stock Exchange, both priced at A$1.78 per new share. FireFly also intends to raise up to an additional A$10 million through a non-underwritten share purchase plan for eligible shareholders in Australia and New Zealand at the same offer price.

Proceeds from the capital raise will fund early project implementation, procurement of long-lead capital items, and underground and regional exploration drilling. Funds will also support technical studies, including a Definitive Feasibility Study for a 1.8Mtpa base case and a Pre-Feasibility Study for a larger 4.6Mtpa alternative scenario, ahead of a Final Investment Decision targeted for mid-2027.

“The raising ensures that we can continue unlocking the value of Green Bay in an expedited manner. This strategy involves pursuing several avenues of growth and development in parallel, ranging from ongoing exploration through to feasibility studies and ordering long-lead items.

“We can implement this rapid value creation strategy knowing we have a very strong balance sheet which enables us to capitalise fully on the exceptional asset we have at Green Bay and the huge macro-opportunity emerging in the copper market.”

— Steve Parsons, Managing Director

The latest financing follows an earlier exploration push backed by the company's December 2025 equity raising, which supported a nine-rig campaign across the Canadian property.

Settlement of the ASX Placement is scheduled for 1 September 2026, while the TSX Bought Deal is scheduled to close on 3 September 2026.

Read the full announcement: FireFly bolsters funding for project development and ongoing resource growth with A$190m raising