Belararox Limited (ASX:BRX) announces major shareholder's increased investment

Belararox Limited (ASX:BRX) has announced that Denala Limited (Hong Kong) has agreed to subscribe for up to an additional 7,500,000 fully paid ordinary shares in the Company. The proceeds from this subscription will support ongoing exploration activities at the company's TMT Project, including maiden drilling in November 2024.

Belararox's Managing Director comments on Denala's increased equity stake

Denala's increased equity stake in Belararox signifies its strong confidence in Belararox and our TMT project. This investment will directly support the exploration of promising copper porphyry targets at the Tambo South and Malambo prospects, which are to be drill tested in November this year. We are eager to collaborate with Denala as BRX continues its trajectory of growth and success as a leading Australian exploration company.

Belararox's increased investment and outlook

Belararox Limited (ASX:BRX) has secured an additional investment from Denala Limited to support ongoing exploration activities at the TMT Project. The increased equity stake from Denala signifies strong confidence in Belararox and the TMT project's potential. The investment will facilitate the exploration of promising copper porphyry targets at the Tambo South and Malambo prospects, with drilling scheduled for November 2024. Belararox is optimistic about the collaboration with Denala and remains committed to its trajectory of growth and success as a leading Australian exploration company.