Trigg Minerals Limited (ASX: TMG), a company focused on antimony development across Tier-1 jurisdictions with a vision to become a vertically integrated, conflict-free supplier to Western economies, has announced it has successfully raised $12.5 million through a placement to institutional and professional investors. The placement involved the issue of 147,058,824 fully paid ordinary shares at $0.085 each. The funds raised will be used to advance its Antimony Canyon Project (ACP) in Utah, USA. GBA Capital Pty Ltd and Roth Capital Partners, LLC acted as joint lead managers for the placement.
The placement saw strong support from both existing and new institutional investors, including new strategic US funds. According to the company, the demand exceeded the offer, necessitating scaling. Trigg Minerals opted not to take oversubscriptions, considering potential non-dilutive funding opportunities through federal schemes and divestments. The company is also planning to restate ACP’s USBM resource to SK-1300 / JORC 2012 compliance.
Trigg Minerals intends to use the proceeds to progress its US and Australian operations, including exploration and pilot mining activities. The company also intends to explore a potential US mainboard listing. Additionally, the funds will be allocated for general working capital and costs associated with the placement. Each share subscribed to in the placement included one free-attaching option, exercisable at $0.10 and expiring three years from the issue date, subject to shareholder approval at an upcoming general meeting.
Andre Booyzen, Managing Director of Trigg Minerals, stated that the placement strengthens the company’s balance sheet and positions it to accelerate development at Antimony Canyon. He also highlighted the recent appointments of downstream antimony experts and a US defense advisor, underscoring the company’s intent to build a world-class team. The announcement also effectively lifts the voluntary suspension requested on 1 July 2025, which followed the trading halt that commenced on 27 June 2025.
