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Highlights
Krakatoa Resources raises additional funding via a top-up placement
Proceeds to support expanded exploration at Zopkhito Antimony-Gold Project
Project located near key infrastructure in Georgia’s Racha region
Krakatoa Resources Ltd (ASX:KTA), listed on the All Ordinaries, has raised further capital through a top-up placement to accelerate exploration at its Zopkhito Antimony-Gold Project in Georgia. The strategic move enhances the company’s ability to execute a focused drilling program aimed at progressing its critical metals development in the region.
The placement complements a prior fundraising round and reflects ongoing efforts to strengthen Krakatoa's position in the critical resources space, particularly in metals essential for industrial applications.
Top-Up Placement Strengthens Capital Base
The latest capital raising involved the issue of additional ordinary shares through a top-up placement. Subject to shareholder approval, participants in the placement will also receive unquoted attaching options with specific terms and expiry conditions. This initiative builds upon a previously announced placement, resulting in a staged issuance of shares to various subscribers.
Allocations under the combined placement are being distributed in multiple tranches. The proceeds from the placement will enable Krakatoa to pursue immediate exploration priorities, primarily aimed at expanding the scope of its drilling campaigns.
Focus on Zopkhito Antimony-Gold Exploration
The Zopkhito Project spans a significant area in Georgia’s Racha region and hosts both antimony and gold mineralisation. The site is strategically located near transportation infrastructure, including railway links to Black Sea ports, which enhances accessibility for future development.
Exploration work at Zopkhito is directed at defining the mineral resource further, with drilling designed to refine geological understanding and support longer-term planning. Antimony, one of the project’s key commodities, has seen rising demand due to its critical role in advanced manufacturing, including in renewable technologies, flame retardants, and energy storage components.
Strategic Resource Development in a Supportive Jurisdiction
Krakatoa's development focus aligns with the broader interest in critical metals essential to global supply chains. The supportive policy and investment framework in Georgia, along with the country’s trade access to major markets, positions Zopkhito as a strategically located resource development asset.
