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Highlights
- Catalina Resources is raising approximately AUD 1.266 million through a placement.
- Funds will boost the company’s cash to ~AUD 3.5 million.
- Funds from the capital raise will be used to advance exploration across the Beasley Creek and Central Yilgarn Projects.
- The company has also proposed a 1-for-23 share consolidation.
Catalina Resources Ltd (ASX:CTN) has secured firm commitments to raise approximately AUD 1.266 million, before costs, through a share placement. The company has also outlined a proposed share consolidation designed to strengthen its capital structure ahead of future operational and financing activities.
Placement to Support Exploration Funding
The placement comprises 422,000,000 new shares issued at AUD 0.003 per share. The issue price represents a 23.5% discount to the 15-day VWAP, as of 14 November 2025. Participants in the capital raise will also receive one free-attaching option for every two shares subscribed, with each option exercisable at AUD 0.005 and expiring on or before 22 May 2027.
The company has confirmed that the placement saw significant interest from high-net-worth investors.
Following the placement to sophisticated investors, the company expects to increase its cash balance to approximately AUD 3.5 million. The funds will support ongoing exploration programs at its Beasley Creek and Central Yilgarn Projects.
Shaw and Partners, who acted as the Lead Manager, is entitled to a 5% fee. Furthermore, 80,000,000 advisor options will be issued to Pareto Capital Pty Ltd, contingent on shareholder approval. These options are exercisable at AUD 0.005 and will expire on 22 May 2027.
Use of Funds and Project Development
The company plans to allocate AUD 1 million of the raised funds toward exploration activities, particularly Phase 1 of its planned 20,000m drilling program across the Evanston and Yerilgee West Gold Projects. The drilling program is expected to begin in early December 2025.
A further AUD 0.266 million will be applied to working capital.
Proposed 1-for-23 Share Consolidation
The company has proposed a 1-for-23 share consolidation, subject to shareholder approval. The consolidation aims to realign the company’s capital structure to a more appropriate level and better position Catalina for future corporate and financing activities.
Under the new proposal, all shareholders will be equally affected by share consolidation, meaning for every 23 shares an investor currently holds, they will receive one new share. The consolidation will not alter shareholders’ proportional interests, aside from minor rounding adjustments. Following consolidation, the company would have 124,479,088 shares on issue, as well as adjusted option and performance rights figures.
CTN shares were trading at AUD 0.003 per share at the time of writing on 19 November 2025.
