Krakatoa Resources Limited (KTA) has raised $1.6 million through a private placement to accelerate its 2026 exploration efforts at the Zopkhito Antimony-Gold Project. The company issued 400 million new shares at an issue price of $0.004 per share to a mix of new and existing wholesale and sophisticated investors. Lodge Partners acted as the lead manager for the transaction.

The funding is specifically earmarked for the ongoing 2026 work program, which includes resource definition drilling, underground panel and bulk sampling, metallurgical optimisation, preliminary mining studies, and environmental permitting. These activities are critical steps for the explorer as it moves to convert existing foreign estimates into a JORC 2012-compliant Mineral Resource Estimate.

"This Placement provides Krakatoa with the funding to advance its 2026 work program, with surface and underground core sampling drilling now underway at Zopkhito. The program will focus on resource definition drilling, metallurgical optimisation and preliminary mining studies and is designed to support conversion of the current foreign resource estimate into a JORC 2012 Mineral Resource Estimate. This represents Krakatoa's second season of exploration at the project following the validation of historical data across the Zopkhito system in 2025."

— Colin Locke, Executive Chairman

The financial package includes a structure where participants receive one free-attaching option for every four shares subscribed, exercisable at $0.01 and expiring in September 2028. Settlement of the new shares is scheduled for 9 July 2026. The issuance of these options, alongside options granted to the lead manager, remains subject to shareholder approval at an upcoming General Meeting, which is currently slated for 21 August 2026. This capital injection ensures the continuation of active exploration at the project site throughout the remainder of the 2026 season.

Read the full announcement: $1.6m Placement to Fund 2026 Exploration Program