Key facts about Blackstone Minerals' new offer

Blackstone Minerals (ASX: BSX) has unveiled a $4 million accelerated entitlement offer. The partially underwritten offer aims to fund projects like the Wabowden Project and the Ta Khoa Refinery study. Nanjia Capital, a significant shareholder, commits $1.65 million.

Overview of Blackstone Minerals' financial strategy

The $4 million entitlement offer by Blackstone Minerals (ASX: BSX) is designed to fund pivotal projects including the Wabowden Project and the Ta Khoa Refinery's Definitive Feasibility Study. The offer, priced at A$0.03 per share, represents a 12% discount and is partially underwritten by Nanjia Capital, with their $1.65 million commitment. This initiative will facilitate progress in Blackstone's strategic partnerships and general operations. Eligible shareholders can participate from specified regions, excluding the United States. The offer comprises institutional and retail components, with opportunities for additional share subscriptions in case of a shortfall. Key dates include institutional offer from 4 to 5 November and retail from 11 to 29 November. The company is actively engaging shareholders through its Investor Hub.

Executive commentary on the entitlement offer

We are grateful for the support from Nanjia Capital, which will enable us to advance our strategic objectives,' said the Managing Director.