Marmota (ASX: MEU) has secured firm commitments to raise $15 million through a single-tranche placement to institutional, professional, and sophisticated investors, strengthening its balance sheet to advance its Gawler gold project in South Australia.
More than 80% of the placement was taken up by institutions and funds, adding new high-quality investors to the company’s share register.
The capital raising is intended to accelerate drilling and resource growth initiatives at Gawler, following what the company describes as spectacular gold results.
The company placed just over 111 million new fully paid ordinary shares at $0.135 per share, a discount of approximately 12% to the 10-day volume weighted average price.
The new shares will rank equally with existing fully paid ordinary shares on issue, with settlement expected to occur on 17 February 2026.
Gawler Gold Project
Marmota will primarily direct the funds raised toward accelerating exploration and development at its Gawler gold project.
Drilling at Mainwood, located immediately south of the high-grade Greenewood discovery, is expected to commence in March as part of an intensive program targeting resource growth.
The expanded drilling campaign will feed into the Gawler gold scoping study as the company advances its development strategy.
A portion of the funds may also be allocated to progressing Marmota’s titanium and uranium projects, as well as providing additional working capital.
‘Transformational’ Transaction
Chair Dr Colin Rose called the raising “transformational for Marmota,” while welcoming new shareholders to the register at “a most exciting time”.
“It more than fully provides the company with the funds to execute its Gawler Gold strategy that is achieving spectacular gold results and proving so successful,” he said.
Petra Capital acted as sole lead manager and bookrunner to the placement and will receive fees in line with current commercial terms.
Marmota expects this announcement to lift the trading halt it requested on 10 February 2026.
