By Digifin Pty Ltd · About this coverage
Key Points
- Placement of 7,500,000 shares at A$0.50 to raise A$3,750,000 before costs
- Issue price a 4% discount to the last traded price and an 8.8% discount to the 10-day VWAP
- Directors and management subscribing for A$770k, with A$450k subject to shareholder approval
- Pro forma cash at bank over A$6.5m at 31 October 2026, including a €250,000 grant
About Osmond (ASX:OSM)
Osmond Resources Limited is an ASX-listed mineral exploration and development company with its registered office in Melbourne. It is focused on critical minerals projects in Spain, including the Orión project in Andalucía.
Osmond (ASX:OSM) Resources has received firm commitments for a share placement to fund work on its Orión EU Critical Minerals Project in Spain, lifting pro forma cash at bank to over A$6.5m.
The placement of 7,500,000 shares at A$0.50 each raises A$3,750,000 before costs from sophisticated and other professional investors, and was cornerstoned by an existing US based institutional shareholder. The price is a 4% discount to the last traded price on 29 October 2026 and an 8.8% discount to the 10-day VWAP. Directors and management have subscribed for 1,540,000 shares (A$770k), including 900,000 shares (A$450k) for directors that require shareholder approval under Listing Rule 10.11. Settlement is expected on Monday, 9 November 2026. Pro forma cash at bank as at 31 October 2026 is over A$6.5m, inclusive of a €250,000 Spanish Government grant. Funds will be used to progress the project and pay the costs of the raising.
The director shares depend on a vote at the next shareholder meeting. The release notes that the 2 October 2026 Scoping Study found approximately US$300 million of development funding would be required, that this funding is not assured, and that the study does not support an Ore Reserve estimate.
Source: Osmond Resources Limited (ASX:OSM), 3 November 2026. Summary content supplied by Digifin Pty Ltd.
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