Podium Minerals has launched an underwritten share purchase plan to raise approximately A$4 million, backed by Leeuwin Wealth as underwriter and corporate advisor.

Eligible shareholders in Australia and New Zealand can apply for up to A$30,000 worth of new fully paid ordinary shares at A$0.034 per share, representing a 17.8% discount to the volume-weighted average market price calculated over the last five trading days prior to the announcement. The offer is free of brokerage and transaction costs.

Non-Executive Chairman Neal Froneman has committed to sub-underwrite A$200,000 of the offer, subject to shareholder approval. Leeuwin Wealth and Cumulus Wealth are acting as joint lead managers.

Podium plans to direct the proceeds primarily toward ongoing metallurgical testing across mineralised zones, mineralogy and sighter tests on deep hole cores, and acquiring specialist in-house analytical equipment for rhodium, iridium and five-element reporting capability. Funds will also support rehabilitation and site works at Parks Reef and Range Well, study planning and project advancement beyond phase 3, and general working capital.

The company reserves the right to accept oversubscriptions above the A$4 million target, subject to regulatory limits. If oversubscribed, sub-underwriters will be given the opportunity to participate in a top-up share placement to raise up to an additional A$2 million following completion of the SPP.

The share purchase plan opens on Friday, 14 August 2026, and is scheduled to close on Friday, 28 August 2026. The results announcement and issue date for the new shares are scheduled for 4 September 2026.

Meanwhile, regional exploration activity continues across the district, with Meeka Metals having reported diamond drilling results of 52.3m at 3.0g/t gold from its Murchison project on 22 July 2026.

Read the full announcement: PODIUM LAUNCHES A$4 MILLION UNDERWRITTEN SPP