Mount Burgess (ASX: MTB) Secures Financial Backing Through Strategic Share Placement

June 23, 2025 08:29 PM AEST | By Sonal Goyal

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Mount Burgess (ASX: MTB) Secures Financial Backing Through Strategic Share Placement — Image source: Company update

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Highlights

Mount Burgess has received firm commitments to raise AUD 221,806 through the placement of nearly 73.9 million shares to sophisticated and professional investors.

Funds to be directed towards the advancement of the Kihabe-Nxuu Project and broader strategic development plan.

Mount Burgess’ board has announced a strategic plan to develop and sustain its operations.

Mount Burgess Mining NL (ASX:MTB) has received firm commitments from sophisticated and professional investors for a capital raise of AUD 221,806 through a share placement. This strategic funding initiative will support the company's operational needs and accelerate progress on key projects.

The placement comprises the issuance of 73,935,637 shares at an issue price of AUD 0.003 per share. Of these, 38,765,368 shares will be issued under ASX Listing Rule 7.1, while the remaining 35,170,269 shares will be allocated under Listing Rule 7.1A. These shares are anticipated to be officially issued on or before 27 June 2025.

Proceeds will be directed toward operating costs and the advancement of the company’s Kihabe-Nxuu Project. Additionally, the funds raised will facilitate the implementation of MTB’s strategic plan to develop and sustain its operations.

The company has unveiled a pragmatic 12-month strategic plan based on three core pillars.

Business Sustainability
The company is focused on disciplined capital management, streamlined costs, and enhanced governance. Updated cost forecasts support efficient project execution, with ongoing stakeholder engagement a key priority.
Project Advancement
Positive hydrometallurgical test results at the Nxuu deposit have cleared the way for a scoping study on the Kihabe–Nxuu polymetallic project. Subject to securing sufficient funding, the study is slated for completion in Q4 2025.
Project Pipeline Growth
Mount Burgess is actively screening acquisitions and partnerships to expand its asset base. A targeted outcome is expected in Q1 2026.

MTB shares traded at AUD 0.004 per share on 20 June 2025.

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