Lefroy Exploration (ASX: LEX)

Announced that it has received firm commitments to raise approximately $3.6 million (before issue costs) through a placement to institutional and sophisticated investors.

This includes $317,570 from Lefroy Directors.

 

 

 

 

 

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	Lefroy Exploration	ASX: LEX
	Stage	Exploration
	Metal	Gold
	Market cap	A$34 m @ 14  cents
	Location	Kalgoorlie, Western Australia
	Website	www.lefroyex.com

 

 

Lefroy Announce a $3.6 Million Placement to Accelerate Evaluation of Mt Martin Gold Deposit

 

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22 May 2026

Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX: LEX) is pleased to announce that it has received firm commitments to raise approximately $3.6 million (before issue costs) through a placement to institutional and sophisticated investors (“Placement”).

This includes $317,570 from Lefroy Directors.

HIGHLIGHTS

• Lefroy has received firm commitments to raise $3.6 million (before costs) in a
share placement to institutional and sophisticated investors
• Directors of Lefroy have committed to participate in the Placement for a total
of $317,570, subject to shareholder approval
• This funding allows Lefroy to expedite the scoping studies and associated
activities at Mt Martin and the high-grade gold core at Burns
• The additional equity allows the company to sustain momentum whilst
awaiting cash flow from the Lucky Strike Profit Share

 

LEFROY CHAIRMAN, DAVID KELLY, COMMENTED:

“We are grateful for the ongoing support of investors, comprised largely of long-term
shareholders, who have contributed to this Placement.

 

“Securing this additional equity funding allows Lefroy to continue to advance the exploration and evaluation of its key 460koz Mt Martin Gold Deposit.

 

“The recently announced resource upgrade at Mt Martin will form the basis for a Scoping Study, which aims to identify a development path for this asset. In addition, targeted drilling to extend and upgrade both Mt Martin and the 160koz high grade core of the Burns deposit will be undertaken.

 

“We expect to see significant value realisation for shareholders over the next 12 months, from scoping studies ofMt Martin and Burns, and from anticipated cashflow from the Lucky Strike Profit Share.”

 

The Placement will result in the issue of a total of 28.8 million fully paid ordinary shares (“Shares”) at an issue price of $0.125 per New Share. New Shares issued under the Placement will rank equally with the Company’s existing Shares.

The Placement issue price was 12.5c.

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To read the full news release, please click HERE

 

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To View Lefroy Exploration’s historical news, please click here

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The live gold price can be found HERE

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Disclosure

At the time of writing the author holds  shares in Lefroy Exploration

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