Blaze Minerals' capital raising initiative

Blaze Minerals (ASX:BLZ) has successfully raised approximately $1.25 million through a share placement. This funding will support exploration at their new critical metals projects in Uganda and the Kirkalocka Project in Western Australia. The placement involves issuing 313,389,560 shares at $0.004 each.

Blaze Minerals' strategic exploration plans

Blaze Minerals has raised $1.25 million to fund exploration activities in Uganda and Western Australia. The capital will be used for their Ugandan projects focusing on critical minerals and the Kirkalocka Project targeting gold. The share placement involves issuing 313,389,560 shares with additional options. The company aims to explore high-grade ore deposits, tapping into global critical mineral markets. Settlement is expected in December 2024, with CPS Capital Group Pty Ltd acting as Lead Manager. The initiative aligns with Blaze Minerals' strategy to expand its resource base and increase shareholder value.

Executive commentary on capital raising

We are pleased to have completed this capital raising, which provides us with the necessary funds to advance our exploration activities in Uganda and Western Australia. These projects present significant opportunities to enhance shareholder value.