Yandal Resources (ASX:YRL) Announces $13.5M Placement to Expand Exploration
Placement Details
Yandal Resources Limited has received firm commitments for 46.4 million fully paid ordinary shares at $0.29 per share, raising A$13.5 million before costs. The placement was priced at a 4.4% discount to the 5-day VWAP and a 9.4% discount to the last traded price on 26 September 2025.
Use of Funds
The funds raised will be used to expand and accelerate exploration across the Caladan target area and Arrakis Prospect, as well as advance exploration at the Ironstone Well – Barwidgee Gold Project, including the New England Granite target area and Flushing Meadows Deposit.
Financial Position
Following settlement, Yandal will have approximately $16.1 million cash on hand, not including $2.81 million from the sale of the Gordons Project and up to $2.6 million from option exercises.
Executive Comments
Yandal Resources’ Managing Director, Mr Chris Oorschot, said: “We are very pleased with this strong show of support by both existing and new shareholders, who we welcome to the Yandal register, in particular our new institutional shareholders. We have made substantial progress and experienced significant exploration success in recent times. We have therefore taken the opportunity to ensure we are appropriately funded to both expand and accelerate exploration programmes across the Caladan target area, and the Arrakis Discovery. Our focus is to drive shareholder value through discovery and Yandal is now in a very strong financial position to execute its plans.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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