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Highlights
- EV Resources has launched a rights issue to raise up to AUD 1.52 million to advance its Mexican antimony projects.
- The proceeds will support commissioning of the Tecomatln Processing Plant and development of the Los Lirios antimony project.
- Eligible shareholders can subscribe for one new share for every 10 shares held at AUD 0.005 per share and will receive one free-attaching option for every new share issued.
- The company has appointed Shane Menere as Executive Chairman and Miguel Barahona as Interim CEO.
- EV Resources has proposed a 10:1 capital consolidation, subject to shareholder approval.
EV Resources Limited (ASX:EVR) has announced a pro-rata non-renounceableentitlement offerto raise up to AUD 1.52 million before costs, with the first AUD 1 million fully underwritten. The proceeds will support the development of the company's Mexican antimony projects, including commissioning activities at the Tecomatln Processing Plant.
The company has also announced management changes and proposed a 10:1 capital consolidation, subject to shareholder approval.
AUD 1.52 Million Rights Issue
The entitlement offer will give eligible shareholders the right to subscribe for one new share for every 10 shares held, at an issue price of AUD 0.005 per share. The offer is expected to raise up to AUD 1.52 million before costs. Participating shareholders will also receive one free-attaching option for each new share issued. These options will be exercisable at AUD 0.0075 and will expire on 31 August 2030. The company plans to seek quotation of the new options on the ASX, subject to satisfying the relevant listing requirements.
The first AUD 1 million of the capital raising will be underwritten by Indian Ocean Securities Pty Ltd, with an underwriting fee of 6% payable under the agreement.
EVR shares were trading at AUD 0.005 per share at the time of writing on 20 July 2026.
