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Highlights
- Surefire Resources has extended the closing date for its non-renounceable entitlement offer to 4 July 2025.
- The offer aims to raise ~AUD 3.88 million at AUD 0.002 per share, with bonus shares and free options included.
- Funds raised will support the advancement of Yidby Gold and Copper Hill Projects.
Surefire Resources NL (ASX:SRN) has announced the extension of its entitlement offer closing date to 4 July 2025. This extension allows eligible shareholders additional time to consider and participate in the capital raising initiative. The decision was made to accommodate shareholders who may have experienced delays in receiving the offer documentation and to ensure broader engagement.
Details of Entitlement Offer
The company announced a pro-rata non-renounceable entitlement offer on 26 May 2025 to raise approximately AUD 3.88 million at an issue price of AUD 0.002 per share. Under the offer, eligible shareholders are entitled to subscribe for two new shares for every three shares held on the record date.
The offer also includes one free bonus share for every four new shares, and one free-attaching option for every new share issued. These options will be exercisable at AUD 0.004 and are set to expire on 1 July 2027, two years from their expected issue date.
The company expects to issue up to 2.42 billion new shares and an equal number of new options, if the offer is fully subscribed and no other shares are issued prior to the record date.
Lead Manager Engagement and Fees
To manage the shortfall component of the offer, Surefire has appointed Sanlam Private Wealth Pty Ltd as Lead Manager. Sanlam’s compensation structure includes a fixed fee of AUD 15,000 (exclusive of GST), a 6% commission on funds raised, and 60 options for every AUD 1 raised under the shortfall offer.
Use of Funds
The capital raised will primarily fund the development of Surefire’s Yidby Gold and Copper Hill Projects, located in Western Australia. In addition, proceeds will be used to support ongoing exploration across the company’s broader 100%-owned WA project portfolio.
About Yidby Gold Project
SRN has started a new exploration campaign across its 140 km² Yidby Gold Project, featuring 5,000m reverse circulation drilling and 2,000m diamond drilling to test new targets and extend known mineralisation. Key targets include the “Money Anomaly,” a 1km by 500m gold zone southeast of Yidby, and other areas identified through advanced geochemical mapping with the Geotek BoxScan system.
SRN shares were trading at AUD 0.001 per share at the time of writing on 18 June 2025.
