Dalaroo banks $877k in quick-fire raise – options sweetener attached

If exploration is a marathon, not a sprint, Dalaroo Metals just grabbed a mid-race water bottle. The junior has topped up the tank with a modest but tidy equity placement, giving it some near-term fuel as fieldwork in Greenland and a fresh West African gold play jostle for attention. It’s not a knockout punch, but it keeps the gloves up for the next round of news.

Completion of placement

Dalaroo Metals has completed a small placement of 35,100,000 shares at $0.025 each, raising about $877,500 before costs. The company also issued 11,700,000 free attaching options on a 1-for-3 basis, exercisable at $0.036 and expiring on 23 August 2029.

Key details the company highlighted:

• “completed the placement of 35,100,000 fully paid ordinary shares… at an issue price of $0.025 per share”
• “issued 11,700,000 1:3 free attaching Options, exercisable at $0.036 each, expiring on 23 August 2029”
• the securities were issued under existing Listing Rule 7.1/7.1A capacity
• shares were issued “without disclosure under Part 6D.2 of the Corporations Act,” with a cleansing notice under section 708A(5)(e) confirming compliance with financial reporting and continuous disclosure obligations and that there is no excluded information

If every option is eventually exercised, Dalaroo could receive a further ~$421,200, taking total potential proceeds to roughly $1.30 million.

Why it matters for investors

For a junior explorer, time and optionality are worth their weight in drill core. This raise looks like classic bridging capital – enough to keep key programs moving, cover corporate overheads, and maintain momentum until the next inflection point. The long-dated options add a kicker: if the share price clears 3.6 cents any time before late August 2029, they become a built-in funding valve that could drip-feed another ~$421k into the treasury without a new prospectus or shareholder vote.

Importantly, the company kept things simple and fast by issuing under LR 7.1/7.1A. That avoids the delay of convening a meeting, which matters when you’re chasing field windows in Greenland or lining up work in West Africa. The standard 708A cleansing notice also tells the market there’s no hidden nasties lurking in the data room.

There are trade-offs. The placement expands the register by 35.1 million shares, with potential future dilution if the 11.7 million options end up in the money. And because the announcement doesn’t spell out an explicit use of proceeds, investors will be watching upcoming program updates to gauge how far this cash stretches across Dalaroo’s portfolio.

Bigger picture

Equity remains the lifeblood for early-stage miners in 2025, and many are opting for smaller, faster raisings to thread volatile markets. In that context, Dalaroo’s structure is textbook: a low-dollar placement to shore up runway, paired with long-dated, low-exercise-price options that align future funding with potential share price strength.

Strategically, the company’s portfolio tilts toward news-rich targets – geochem-driven REE-niobium zirconium anomalies in Greenland and high-grade historic gold hits in Côte d’Ivoire – where relatively modest spends can unlock meaningful value if assays cooperate. That’s the sort of asymmetric outcome that can make a small war chest go further.

Looking ahead

• Greenland assays are flagged from early September. Good numbers could justify a second field visit before season end, as previously foreshadowed.
• In Côte d’Ivoire, the Bongouanoa gold JV awaits permit progress and follow-up on historical intercepts that turned heads. Any clarity on permitting timelines would be welcome.
• Closer to home, Lyons River in WA remains on the radar after zinc and lead indications. Program sequencing – and how today’s funds are allocated – will be a key storyline.
• Capital planning: with a modest raise now complete, investors will look for signals on budgets, work priorities, and whether additional capital will be needed to scale programs.

As always, this is still early-stage exploration – exciting, but dependent on the next batch of samples, drill holes and permits.

Fun fact

ASX Listing Rule 7.1A lets eligible small caps issue an extra 10% of capital over 12 months on top of standard capacity. It is designed to help juniors raise modest amounts quickly between shareholder meetings – handy when your field season is measured in weeks, not board calendars.

Previous news

• Quarterly Activities/Appendix 5B Cash Flow Report (31 Jul 2025) – Dalaroo flagged firm commitments for a $1m placement, reported $455k quarter-end cash, and outlined an active exploration slate across Côte d’Ivoire, Greenland and WA. Today’s completed placement follows that capital-raising push and helps advance those programs.
• Maiden Work Program at Blue Lagoon Project Commences (23 Jul 2025) – Field teams mobilised in southern Greenland to chase Zr-Nb-REE targets, with assays expected from early September. The new funds add breathing room as those samples head to the lab.