FireFly Metals Ltd has secured firm commitments for an A$180 million equity raising via an Australian institutional placement and a Canadian bought deal financing, supplemented by a non-underwritten Share Purchase Plan targeting up to an additional A$10 million.

The funding package is priced at A$1.78 per share and will be deployed directly into early project implementation, long-lead item procurement, and an aggressive multi-rig drilling program at the Green Bay Copper-Gold Project in Canada.

Proceeds will support underground development for drilling platforms, ventilation and electrical upgrades, and surface early works. Funds are also earmarked for underground resource growth drilling targeting upper mine extensions, measured and indicated resource expansion, and geophysical targets, alongside regional exploration across the surrounding district. In addition, technical studies will advance toward a Definitive Feasibility Study for a 1.8 million tonnes per annum base case and a Pre-Feasibility Study for a 4.6 million tonnes per annum alternative scenario.

The capital raising builds on FireFly's existing portfolio depth, which includes the 2024 acquisition of the adjacent Tilt Cove copper-gold exploration ground, adding 115 square kilometres of continuous exploration tenure to the project.

“The strong demand for the raising reflects Green Bay's status as one of the world's best undeveloped copper projects.” — Steve Parsons, Managing Director

“We are now very well-funded to progress towards project development while maintaining a multi-rig drilling program aimed at ongoing resource growth.” — Steve Parsons, Managing Director

Settlement of the Australian institutional placement is expected to occur on or around Tuesday, 1 September 2026, with the Canadian bought deal closing on or around 3 September 2026. Eligible shareholders in Australia and New Zealand can participate in the Share Purchase Plan opening on 4 September 2026, with a Final Investment Decision for the project targeted by mid-2027.

Read the full announcement: Successful A$190m raising to fund development and growth