Podium Minerals Limited has completed its underwritten share purchase plan, raising A$4 million before costs through the issuance of 117,647,058 new ordinary shares at an issue price of A$0.034 per share.

Valid applications from eligible shareholders raised approximately A$1.56 million through 45,885,210 shares, leaving a shortfall of approximately A$2.44 million. The underwriter, Leeuwin Wealth, arranged for unrelated sub-underwriters to take up 68,173,755 new shares raising about A$2.32 million. Non-Executive Chairman Neal Froneman will subscribe for 3,588,093 shortfall shares raising approximately A$122,000, with that specific tranche subject to shareholder approval at the company's 2026 Annual General Meeting.

Following settlement, 114,058,965 new shares are scheduled to commence trading on the Australian Securities Exchange on 7 September 2026, excluding the tranche awaiting shareholder approval.

The proceeds will direct funding toward ongoing metallurgical testing on mineralised zones, mineralogy and sighter tests on deep hole cores, and the acquisition of specialist in-house analytical equipment for rhodium and iridium reporting capabilities. Funds are also earmarked for site rehabilitation and works at the Parks Reef PGM Project and the Range Well nickel project in Western Australia, alongside study planning, baseline activities, general working capital, and corporate overheads.

Read the full announcement: Completion of Underwritten A$4M Share Purchase Plan