Future Metals NL has received firm commitments for a two-tranche placement to raise approximately $3.6 million before costs through the issuance of roughly 254.6 million new shares priced at $0.014 each.

The placement provides funding to progress several key workstreams across the 100% owned Panton PGM Project in Western Australia, which is situated on three granted mining licences 60 kilometres north of Halls Creek.

Proceeds will directly support the completion of an updated scoping study that evaluates both a standalone greenfield development at Panton and an alternative pathway utilizing the Savannah processing infrastructure. Funds will also finance environmental baseline studies, exploration across the Alice Downs Corridor, and legal, corporate, tax, and technical work associated with ongoing negotiations for the potential acquisition of the Savannah plant from Zeta Resources Limited.

“The funds raised provide Future Metals with the financial capacity to advance a number of important workstreams at Panton, most notably completion of the updated Scoping Study assessing both a greenfield development at Panton and the alternative development pathway utilising the Savannah processing infrastructure. In parallel, we will continue the environmental and technical studies required to support the Project's development, while maintaining momentum on exploration across the broader project area, including the highly prospective Alice Downs Corridor.”

— Keith Bowes, Managing Director

The capital raising is structured in two tranches. Tranche 1 will issue 214,285,715 new shares under existing placement capacity to raise $3.0 million, with settlement expected on August 26, 2026, and allotment to follow on August 27, 2026.

Tranche 2 will raise $565,000 via the issuance of 40,357,143 new shares, covering participation from insiders and major shareholders. This includes a $500,000 commitment from Future Metals' largest shareholder, Zeta Resources, alongside $65,000 subscribed by company directors and employees.

Participation by Zeta Resources and company directors in Tranche 2 remains conditional upon obtaining shareholder approval at a general meeting expected to take place in late September 2026. Blue Ocean Equities and CPS Capital acted as joint lead managers and joint bookrunners to the placement.

Read the full announcement: Firm Commitments Received for $3.6m Placement