The placement comprises approximately 11.7 million fully paid ordinary shares priced at $0.39 each. Participants will receive one option for every two placement shares, with the options exercisable at $0.57 and expiring on 12 October 2029.
Queensland Investment Corporation's Queensland Critical Minerals Fund has committed $1.5 million. Iltani said the fund is expected to hold a 10.1% undiluted interest after completion, while directors intend to subscribe for $150,000 in tranche two, subject to shareholder approval.
Iltani said placement proceeds, after costs, will predominantly support its planned 145-hole Orient Resource Extension Drilling Program and general working capital. The company said the program is expected to target Orient West, the NW Ridgeline and Link Zone as it seeks to grow the Orient Mineral Resource.
The company said the next major Orient milestone is completion of a scoping study in early 2027. Settlement of tranche one placement shares is expected on 9 October 2026, with issue expected on or around 12 October, subject to the stated timetable and ASX confirmation.
Source: Download ILT official ASX announcement, 2026-10-02.
Key Events Timetable from Iltani Resources' ASX announcement dated 2 October 2026.