Lodestar Minerals expands capital raise to advance chilean exploration projects

Lodestar Minerals boosts capital raise to $2.7M for Chilean gold-copper exploration, issuing shares and free options to fund Darwin and Three Saints projects.

ASX-listed explorer Lodestar Minerals (ASX:LSR) has increased its capital raise by an additional $500,000 to further accelerate exploration efforts at its Darwin and Three Saints projects in Chile.

The expanded raise forms part of a broader funding strategy aimed at unlocking the mineral potential across Lodestar’s 5,800-hectare landholding in the Copiapó region, which hosts significant gold and copper targets, including proximity to the 1.2 billion tonne Candelaria deposit (0.6% Cu, 0.13g/t Au, 2g/t Ag).

Oakley Capital Partners is acting as the lead manager and corporate advisor for the placement.

The capital raise is being conducted in three tranches, with the initial two tranches targeting a combined total of $2.2 million. The first tranche will generate $475,000 through the issue of 79.16 million shares at $0.006 per share. The second tranche will raise $1.72 million via the issuance of 345 million shares at $0.005 per share.

To complete the funding round, Lodestar plans to fast-track a third tranche that will issue 100 million shares at $0.005 per share, adding the remaining $500,000.

As part of the placement, investors will be entitled to two free options for every three shares subscribed, exercisable at $0.01. A total of 66.6 million options will be issued, subject to shareholder approval, with a four-year expiry from the date of issue.

Lodestar Minerals is a gold and copper exploration company with a portfolio of wholly owned projects in Western Australia and Chile, focused on advancing high-potential assets across tier-one mining jurisdictions.