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The Australian
04-08-2025
- Business
- The Australian
LKY secures $5.3m in oversubscribed raise
$5.3 million raised at 9.5c a share in placement Oversubscribed with strong interest from institutional and professional investors Tribeca Investment Partners led raise with cornerstone investment Special Report: A heavily oversubscribed $5.3 million capital raise has validated a US centred critical minerals strategy at the Mojave antimony and rare earths project. Locksley Resources (ASX:LKY) will channel the fresh funding into a new drilling program at Mojave, targeting high-grade antimony and rare earths at the Californian asset. The placement support was spearheaded by Tribeca Investment Partners, a globally recognised resources investment firm, which made a cornerstone investment in LKY during the raise. Locksley chair Nathan Lude said the company was extremely pleased with the level of demand and quality of institutional participation in the placement. 'Having Tribeca cornerstone the raising is a strong endorsement of our strategy and team,' he said. 'In addition, we welcome more than a dozen new institutions to the Locksley register, providing us with a robust group of investors capable of supporting our forward looking growth strategy. 'This funding places us in a strong position to execute our exploration and downstream plans across the Mojave project and unlock the full value of our US based critical minerals portfolio.' More from Locksley Resources: Poised to take advantage of US critical minerals boom from Mojave Mojave antimony and rare earths project Funding from the latest raise will mostly go to exploration, permitting and downstream development for the Mojave project in California. Mojave is directly next door to MP Materials' Mountain Pass rare earths mine, recently subject to two hefty investments from the US Department of Defense and US tech giant Apple. Location of the Mojave project blocks in south-eastern California, USA. Pic: LKY. Mojave's El Campo prospect lies directly along strike from Mountain Pass, while the North Block tenement directly abuts claims held by MP Materials. LKY has also identified potential for antimony and silver in surface sampling, with results up to 46% Sb and 1022g/t Ag. Locksley intends to take advantage of looming rare earth and antimony supply shortages in North America after China moved to restrict exports of the critical minerals in recent years. This article was developed in collaboration with Locksley Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
01-08-2025
- Business
- News.com.au
Resources Top 5: Locksley spikes to three-year high as $5.3m raise validates US strategy
Funding will support a new drilling program at Mojave targeting high-grade antimony and rare earths A second drill rig has been added in WCN's quest for copper at Rae project in Canada 1AE buoyed by a potential windfall of US$16m in Eagle Energy Metals shares Your standout small cap resources stocks for Friday, August 1, 2025 Locksley Resources (ASX:LKY) A heavily oversubscribed $5.3 million capital raise has validated the US-centred critical minerals strategy of Locksley Resources and investors responded positively, with shares climbing to a three-year high of 14.5c. This was an increase of 38.1% on the previous close and more than 67m shares changed hands valued at almost $9m. As well as validating the company and its Mojave antimony and rare earths project in California, the placement was spearheaded by Tribeca Investment Partners, a globally recognised resources investment firm, which made a cornerstone investment. Locksley chair Nathan Lude said the company was extremely pleased with the level of demand and quality of institutional participation in the placement. 'Having Tribeca cornerstone the raising is a strong endorsement of our strategy and team,' he said. 'In addition, we welcome more than a dozen new institutions to the Locksley register, providing us with a robust group of investors capable of supporting our forward-looking growth strategy. 'This funding places us in a strong position to execute our exploration and downstream plans across the Mojave project and unlock the full value of our US-based critical minerals portfolio.' Locksley Resources will channel the fresh funding into a new drilling program at Mojave, targeting high-grade antimony and rare earths. Funds will also be used to progress permitting and downstream development. Surface sampling has seen LKY identify potential for antimony along with silver, with results up to 46% Sb and 1022g/t Ag. Mojave is directly next to MP Materials' Mountain Pass rare earths mine, recently subject to two hefty investments from the US Department of Defense and US tech giant Apple. Mojave's El Campo prospect lies directly along strike from Mountain Pass, while the North Block tenement directly abuts claims held by MP Materials. Locksley intends to take advantage of looming rare earth and antimony supply shortages in North America after China moved to restrict exports of the critical minerals in recent years. White Cliff Minerals (ASX:WCN) Considerable impetus has been added to the quest for copper at Rae project in Canada by White Cliff Minerals with a second drill rig added enabling it to focus on the two primary prospects at the same time. A reverse circulation rig is now stepping out along strike at Danvers prospect while a diamond rig is focusing on deep targets at Hulk prospects. The acceleration of drilling at the project in Nunavut province in Canada's remote north has resulted in WCN shares increasing 18.2% to a daily high of 2.6c with more than 32m changing hands. The increased focus on Danvers comes after the company extended the copper mineralised footprint with a new near-surface zone which strikes over 250m adjacent to the deposit. White Cliff is confident of RC drilling success at Danvers where maiden drilling earlier this year flagged a copper hit of 2.5%. Efforts at Danvers also include a drone-based MobileMT survey across the lease, which is nearing completion. Results are expected to help shape future expansion drilling. The Danvers work adds impetus to exploration at Rae where diamond drilling at Hulk is focused on the sedimentary horizons between 200 and 400 metres deep. Results from the MobileMT survey along with initial results from the RC and diamond drilling are expected this month. Rae is in Nunavut's Coppermine region, an underexplored frontier for sediment-hosted copper systems, much like those at the world-class Kupferschiefer copper belt in Europe. And given current copper supply challenges, the company believes Rae is well placed to provide a new source of the electrification metal, given its near-surface mineralisation and proximity to an open water port just 80km away. 'Our recent exploration success has validated White Cliff's geological model, confirming all key elements required for a sedimentary copper system, analogous to world-class deposits such as the Kupferschiefer and Central African Copperbelt,' managing director Troy Whittaker said. 'White Cliff finds itself in an enviable position as we continue to advance our exploration efforts over our stranglehold that spans more than 75km of the prospective sedimentary structure.' Aurora Energy Metals (ASX:1AE) A proposed merger of Eagle Energy Metals Corp with Spring Valley Acquisition Corp II, a US-listed special purpose acquisition company, will potentially benefit uranium-focused Aurora Energy Metals by way of US$16 million in Eagle shares. This potential windfall has seen 1AE reach a 12-month high of 8.6c, a 72% increase on the previous close. The transaction, if completed, will result in Eagle becoming a publicly listed uranium and nuclear energy company on Nasdaq under the name Eagle Nuclear Energy Corp. This represents a significant milestone for Eagle and a major step in the development path for the Aurora Uranium Project in southeast Oregon. In November 2024 1AE entered an option agreement with Eagle for the acquisition of Oregon Energy LLC, the wholly-owned Aurora subsidiary that holds the Aurora project. A successful listing of Eagle triggers the issue of US$16 million in Eagle shares to Aurora. Additional consideration remains payable upon the achievement of agreed milestones, along with a 1% Net Smelter Royalty on future uranium production. Iris Metals (ASX:IR1) A strongly supported placement raising $4.267m will support the strategy of Iris Metals to deliver new lithium supply into the US market from its projects in the Black Hills of South Dakota and shares rose 27.78% to a daily top of 11.5c. The US strategy aligns with the anticipated lithium pricing upcycle driven by rising US domestic demand. Firm commitments have been received from a range of existing and new investors for the placement at 8.5c per share, a 2.98% discount to the 15-day VWAP, with directors and management committing to about $500,000, subject to shareholder approval. Funds will be used to further advance IR1's lithium exploration, development and commercial work. This includes drilling and exploration, feasibility and other studies, and regulatory and registration. Iris aims to complete current drilling programs at the Tin Mountain, Edison, and Beecher projects to delineate additional lithium resources, focusing on high-grade spodumene zones. Dragon Mountain Gold (ASX:DMG) It has been quiet for Dragon Mountain Gold, however, a new loan and the repaying of an outstanding October 2024 convertible loan plus interest sparked a rise of 166.67% to 1.6c, a new high of almost three years. The payment was made possible by a loan of $700,000 advanced by an unrelated major shareholder at 9% interest per annum. Repayment of the loan gives DMG optionality in future fund raising initiatives and allows it to assess a way forward for its existing or potential new project ventures. The company has interests in the Avalon and Cawse projects in WA. DMG recently appointed Kenneth Robinson as a director, effective immediately. Robinson spent almost 40 years living and working around Kalgoorlie, assisting listed companies including DMG to maintain their tenures in good standing. He was previously active in mining tenement and projects transactions and involved in the supply of mining equipment and is familiar with the Cawse and Avalon projects. He will assist with a review of the way forward for DMG's projects.
Sydney Morning Herald
01-08-2025
- Business
- Sydney Morning Herald
Locksley nabs $5.3M to fuel US antimony-rare earths drilling blitz
The share price of Locksley Resources surged to 14.5 cents today on massive turnover - its highest price since 2022 - after the company turbocharged its United States critical minerals push by locking in a $5.3 million war chest. The oversubscribed capital raise, priced at 9.5c a share, drew a surge of institutional support led by heavyweight investor Tribeca Investment Partners. It was conducted under refreshed placement capacity approved at the company's recent shareholder meeting. Management says Tribeca's lead role as a cornerstone investor is a powerful endorsement of Locksley's US-facing strategy. The deal has also lured more than a dozen new institutions onto the register. The company will use the fresh capital to kick-start a high-impact drilling blitz at its Mojave antimony and rare earths grounds in California. Tucked deep in the Mojave Desert, Locksley's flagship project spans more than 250 claims across two standout zones dubbed the North Block and El Campo, which both scream potential. 'This funding places us in a strong position to execute our exploration and downstream plans across the Mojave project and unlock the full value of our US-based critical minerals portfolio.' Locksley Resources chairman Nathan Lude The North Block rubs shoulders with tenements held by US rare earths juggernaut MP Materials and hosts the historic Desert antimony mine, last worked in 1937. El Campo runs directly along strike of MP's fabled Mountain Pass rare earths mine and sits surrounded by MP's ground. Mountain Pass is America's only rare earths project and at the heart of America's supply chain overhaul. It first burst onto the scene in 1952 with an eye-popping 7 per cent total rare earths grade, which set the bar for decades.
The Age
01-08-2025
- Business
- The Age
Locksley nabs $5.3M to fuel US antimony-rare earths drilling blitz
The share price of Locksley Resources surged to 14.5 cents today on massive turnover - its highest price since 2022 - after the company turbocharged its United States critical minerals push by locking in a $5.3 million war chest. The oversubscribed capital raise, priced at 9.5c a share, drew a surge of institutional support led by heavyweight investor Tribeca Investment Partners. It was conducted under refreshed placement capacity approved at the company's recent shareholder meeting. Management says Tribeca's lead role as a cornerstone investor is a powerful endorsement of Locksley's US-facing strategy. The deal has also lured more than a dozen new institutions onto the register. The company will use the fresh capital to kick-start a high-impact drilling blitz at its Mojave antimony and rare earths grounds in California. Tucked deep in the Mojave Desert, Locksley's flagship project spans more than 250 claims across two standout zones dubbed the North Block and El Campo, which both scream potential. 'This funding places us in a strong position to execute our exploration and downstream plans across the Mojave project and unlock the full value of our US-based critical minerals portfolio.' Locksley Resources chairman Nathan Lude The North Block rubs shoulders with tenements held by US rare earths juggernaut MP Materials and hosts the historic Desert antimony mine, last worked in 1937. El Campo runs directly along strike of MP's fabled Mountain Pass rare earths mine and sits surrounded by MP's ground. Mountain Pass is America's only rare earths project and at the heart of America's supply chain overhaul. It first burst onto the scene in 1952 with an eye-popping 7 per cent total rare earths grade, which set the bar for decades.
Courier-Mail
11-06-2025
- Business
- Courier-Mail
Sold in 12 minutes: Fund manager's $17.5m penthouse pay day
A top fund manager who took just 12 minutes to buy his mega penthouse with a wellness centre and eight-car garage has sold it four years later for $17.5m. In one of the biggest sales for Brisbane this year, the property at 1821/22 Refinery Parade in New Farm sold after negotiations overnight following four written offers. Brisbane expat Ben Cleary, a director of multi-billion dollar fund manager, Tribeca Investment Partners, paid $10m for the property in 2020 — a record price at the time. RELATED: Qld's 20 biggest home sales of 2024 revealed Place Estate Agents managing director Sarah Hackett negotiated the sale of the property, but declined to reveal the sale price. Sources close to the deal have revealed it was bought by a local family with an international business for $17.5m. Mrs Hackett said the vendors took 12 minutes to inspect the property back in 2020 when they were relocating to Brisbane from Singapore and then amalgamated two penthouses into one and undertook a full renovation. 'The most extraordinary thing about this apartment is the view,' Mrs Hackett said. '360 degrees…I just don't think you can get a better position. The views can't be built out.' She said the four written offers were all from local families, some who owned property across Australia. 'It's just proof that demand for apartment living is so strong,' Mrs Hackett said. 'We've got so many people wanting to downsize and forgo the maintenance of a big home and go to one level of living. . 'They want something of scale, but without the upkeep.' She said many people in New Farm, Hamilton, and surrounding suburbs, were looking to downsize to house-sized apartments. 'One of the perks of this penthouse was the body corporate provided a security guard with a dog every night.' Mr Cleary and his wife, Jane, were revealed as the buyers of a heritage-listed mansion in Sutherland Ave, Ascot, for $23m, which set a new home price record for Brisbane last year. That sale was negotiated by Damon Warat of Ray White Ascot and Jordan Navybox of Cohen Handler Queensland. MORE: Untouched for 80 years: Stunning relic found in Queenslander home
