Aguia Resources (ASX:AGR) is launching a share purchase plan (SPP) to raise up to $3 million. The funds will be directed towards accelerating drilling at its Santa Barbara Gold Project in Colombia, furthering the Tres Estrades Phosphate Project, and for general capital purposes. The SPP, opening on May 30th, allows eligible shareholders to apply for up to $30,000 worth of shares priced at $0.04 each. This represents a 9% discount from the closing price on May 23, 2025. The company has stated that applications may be scaled back if demand exceeds the targeted amount.
Executive Chairman Warwick Grigor highlighted the SPP as an opportunity for non-section 708 investors to increase their holdings at a discount. Aguia Resources recently reported revenue of $193,000 from gold production at the Santa Barbara Project. The company focuses on developing gold, silver, and copper across its five wholly-owned projects in Colombia and Brazil. Aguia Resources currently has a market capitalization of $64.29 million.
