REG - New Frontier Mineral - New Frontier Minerals raises $1.59m

New Frontier MineralsAnnouncement

04/06/2025 07:00

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RNS Number : 3729L  New Frontier Minerals Limited  04 June 2025

4 June 2025

 

New Frontier Minerals Limited

 

("NFM" or the "Company")

 

New Frontier raises 1.59m to drill-test HREE, Niobium & Uranium targets at
Harts Range Project

 

New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to advise that it has
received firm commitments to subscribe for 144,477,270 new fully paid ordinary
shares (New Shares) from institutional and sophisticated investors at an issue
price of $0.011 per share to raise $1.59m before costs (Placement).

Highlights:

 

·    NFM successfully completes a $1.59m placement at $0.011 per share,
with strong support from new and existing sophisticated and institutional
investors

·    The funds will be utilised primarily to drill-test high priority
targets for Heavy Rare Earth Elements (HREE), Niobium and Uranium at the Harts
Range Project

·    Embarking on a maiden drilling campaign for HREE and Uranium is
timely, especially with favourable US government policies in the mix,
including:

1.    Key initiatives to diversify HREE supply chains away from China; and

2.    Accelerating the development of nuclear power technologies

·    In addition, NFM will continue work with Austral Resources Ltd (ASX:
AR1) to develop a production pathway for the Big One Copper Deposit (NWQ
Copper Project; QLD)

Ged Hall, Chairman, commented: "We are delighted with the strong support from
both new and existing investors for this capital raise. The funds will enable
NFM to accelerate the inaugural drilling campaign, targeting HREE, Niobium and
Uranium, at our highly prospective Harts Range Project. Pleasingly, the macro
environment is favourable, with recent developments in the US improving the
outlook for HREE and Uranium. As such, the Board believes NFM is well placed
to generate value for shareholders as the drilling campaign gets underway."

The capital raised from the Placement will be used for ongoing exploration and
related activities including:

o  Inaugural drill campaign at the Harts Range Project;

o  Advancing the MOU with Austral Resources to establish a pathway to
production for the Big One Deposit; and

o  Provide for general working capital requirements.

Placement Details

New Shares will be issued pursuant to the Company's placement capacity under
ASX Listing Rule 7.1 and 7.1A. The New Shares issued under the Placement will
rank pari passu with existing fully paid ordinary shares on issue.

CPS Capital Group Pty Ltd (CPS) acted as Lead Manager to the Placement and
will be paid the following fees:

·    2% management fee of the total gross proceeds of the Placement

·    4% placing fee of the total gross proceeds of the Placement

·    20,000,000 options (based on a $1,500,000 raise) under this placement
with an exercise price of 50% higher than the placement price and an expiry of
3 years from the date of listing. The Options will be issued pursuant to the
Company's placement capacity under ASX Listing Rule 7.1

·    $6,000 plus GST per month corporate advisory fee for a minimum of 6
months

 

The Placement timetable is set out below:

 Event                                                                Date (2025)
 Trading halt lifted and announcement of completion of the Placement  Wednesday, 4 June 2025
 Resume trading                                                       Wednesday, 4 June 2025
 Completion and Settlement of New Shares issued under the Placement   Wednesday, 11 June 2025

The above timetable is indicative only and subject to change. The Company
reserves the right to amend any or all of these dates at its absolute
discretion, subject to the Corporations Act 2001 (Cth), the ASX Listing Rules
and any other applicable laws. The quotation of the New Shares is subject to
approval from the ASX.

Appendix 3B

NFM advises that an Appendix 3B has been issued to the ASX and is available on
the Company's website: https://newfrontierminerals.com/investor-dashboard/
(https://newfrontierminerals.com/investor-dashboard/)

 

Corporate Presentation

In addition, NFM has released an updated corporate presentation which is
available on the Company's
website: https://newfrontierminerals.com/investor-dashboard/
(https://newfrontierminerals.com/investor-dashboard/)

 

For further information please contact

 

 New Frontier Minerals Limited                                       +61 8 6558 0886 
 Gerrard Hall (UK), Chairman                                          
                                                                      
 SI Capital Limited (Financial Adviser and Corporate Broker)         +44 (0)1483 413500 
 Nick Emerson                                                          
                                                                       
 Gracechurch Group (Financial PR)                                    +44 (0)20 4582 3500
 Harry Chathli, Alexis Gore, Henry Gamble                             

 

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a
strategy to develop multi-commodity assets that demonstrate future potential
as an economic mining operation. Through the application of disciplined and
structured exploration, New Frontier has identified assets deemed core and is
actively progressing these interests up the value curve. Current focus will be
on advancing exploration activity at the Harts Range Niobium, Uranium and
Heavy Rare Earths Project which is circa 140km north-east from Alice Springs
in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt
district circa 150km north of Mt Isa in Queensland and the Broken Hill Project
in western New South Wales.

New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".

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