West Cobar Metals' new entitlement offer

West Cobar Metals (ASX:WC1) has unveiled a non-renounceable entitlement offer. The company aims to raise up to $838,751 before costs. Eligible shareholders are offered one new share for every four shares held at $0.022 per share. They will also receive a free attaching option for every two new shares subscribed.

Understanding West Cobar Metals' strategic move

West Cobar Metals has launched a non-renounceable entitlement offer to raise funds for its exploration and commercialization projects. The offer is structured to provide one new share for every four shares held by eligible shareholders at $0.022 per new share, with an additional free option for every two new shares. The funds will be directed towards exploration at Bulla Park in NSW, projects in WA, and the Salazar critical minerals project. The offer is detailed in a prospectus lodged with ASX and ASIC on 17 October 2024. The initiative highlights West Cobar Metals' ongoing commitment to advancing its mining projects and capitalizing on new opportunities.

Executive insights on the entitlement offer

The funds raised will support our exploration activities at the Bulla Park copper project in New South Wales, as well as our efforts in Western Australia for copper, gold, and carbonatites exploration. Additionally, we will be able to advance the commercialization of our Salazar critical minerals project.