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Highlights
- Lincoln targets drill-ready zones at Minbrie
- Capital raise strengthens exploration momentum
- R&D rebate set to support short-term cash flow
Lincoln Minerals (ASX:LML) is setting the stage for its next phase of exploration, focusing on the Minbrie Copper-Zinc Project in South Australia, after securing new funding and outlining an ambitious path forward. The company recently completed an equity placement, raising $231,550 to support the advancement of its critical mineral assets.
Under the placement terms, 46.31 million shares were issued at $0.005 per share. As part of the offering, investors also received one free-attaching option for every two shares subscribed, with an exercise price of $0.01 and a two-year expiry. This move is expected to bolster Lincoln’s exploration activities, particularly at Minbrie, where the company is aiming to accelerate project timelines.
Lincoln Minerals (LML) is concurrently preparing to submit its FY25 research and development (R&D) rebate application, which is projected to enhance liquidity and support ongoing operational needs. These combined funding avenues aim to strengthen the company’s short-term financial position and back its broader portfolio initiatives.
A key focus for the near term will be the definition of drill targets at Minbrie. Lincoln is in the process of relogging and assaying over 2,200 metres of historical drill core to identify cost-efficient and promising zones for exploration. The company expects to finalise and prioritise these drill-ready targets by June 2025, setting up a pathway for accelerated activity on the ground.
According to CEO Jonathon Trewartha, early results at Minbrie indicate the potential for a significant copper-zinc discovery, describing it as “an exciting time” for Lincoln as it positions itself for growth in the critical minerals sector.
In parallel, Lincoln Minerals (LML) has introduced a series of internal cost management strategies aimed at preserving capital. These measures have already led to a reduced monthly cash burn, which now sits at approximately $80,000, excluding exploration expenses.
With its primary focus on the Gawler Craton region, Lincoln continues to explore opportunities across its portfolio of critical mineral projects, aligning its efforts with the growing global demand for copper and zinc—both key inputs in the clean energy transition.
The combined effect of disciplined financial management, renewed capital, and a focused exploration strategy positions Lincoln for a potentially transformative period as it sharpens its focus on discovery and development.
