G50 Corp Limited (ASX: G50) has secured A$26.25 million through a single-tranche institutional placement. The company issued approximately 44.1 million new shares at a price of A$0.595 each to fund ongoing exploration and development across its American mineral assets. The financing attracted support from both domestic and international institutional investors, including a significant A$7.95 million commitment from Hancock Prospecting Pty Ltd. This investment grants the mining house an approximate 5.4% stake in the business upon completion of the transaction. Bell Potter Securities Limited and Morgans Corporate Limited managed the placement.

The capital injection is earmarked to fast-track operational programs at the company’s key assets. Specifically, the proceeds will support active exploration campaigns at the Golconda project in Arizona and the White Caps project in Nevada. Beyond standard drilling programs, the company plans to utilize these funds to conduct metallurgical test work at both locations. In Arizona, the budget also incorporates early-stage permitting activities to help advance the project. These initiatives are intended to build on existing geological studies and initial mineral identification at both sites.

"We are grateful for the strong backing received from both existing shareholders and new investors participating in the Placement. This support reflects confidence in G50's strategy of systematically advancing our U.S. portfolio of precious and critical mineral assets, and provides the funding required to accelerate drilling and metallurgical test work across Golconda and White Caps." — Mark Wallace, Managing Director

Chairman Ian Davies highlighted the significance of attracting a major industry player to the register. He noted that the involvement of Hancock Prospecting serves as an endorsement of the technical work completed to date across the company's precious and strategic mineral projects.

The company confirmed that the shares issued for this capital raise utilized its full capacity under ASX Listing Rule 7.1, with the remaining balance accounted for under Rule 7.1A. With the institutional funding now secured, the board intends to initiate these planned technical programs immediately to further define the potential of its U.S. mineral portfolio.

Read the full announcement: A$26.25m Raised for Drilling at Golconda and White Caps