Meeka Metals has announced firm commitments for a two-tranche placement priced at $0.10 a share. The company said the placement was supported by existing institutional shareholders and new domestic and international institutional investors.
According to Meeka, the additional capital is intended to fund Mt Holland acquisition deferred consideration, development of the Turnberry underground mine, additional growth drilling and working capital as the Murchison Gold Project transitions towards two higher-grade underground mines.
The company said about $33 million of the placement will be issued under its existing capacity, while about $9 million, including $40,000 of director participation, remains subject to shareholder approval at the annual general meeting expected on or about 24 November 2026.
Meeka's indicative timetable lists settlement and allotment of the first tranche for 30 September and 1 October 2026, respectively. The second tranche is scheduled to settle on 30 November, with allotment planned for 1 December, subject to shareholder approval.
Source: Download MEK official ASX announcement, 2026-09-25.
File image from earlier MES coverage: Meeka plant reaches 600ktpa nameplate as ore sorter nears commissioning. Not an image of the current announcement.