Strickland Metals Limited (ASX:STK) has announced that they’ve completed the strategic private placement with Zijin Mining Group. This non-brokered strategic placement, initially announced on 17 April 2025, raised A$5M through the issuance of 54.9M fully-paid ordinary shares at an issue price of A$0.091 per share. This strategic placement provides Zijin with a 2.4% shareholding in Strickland.
When the deal was initially announced last week, Strickland’s Managing Director, Paul L’Herpiniere, said “We are delighted to welcome Zijin Mining as a strategic shareholder of Strickland. Zijin is one of the world’s largest mining companies and operates substantial copper-gold mines and development assets in Serbia. While Strickland was not seeking to raise equity capital at current share prices, the significant benefits of bringing Zijin onto the Strickland share register far outweigh the small dilutionary impact of this strategic placement. This strategic placement provides a strong financial platform for Strickland to accelerate its largest-ever exploration program at Rogozna, where six rigs are operating, and continue to actively explore the Yandal Project.”
Strickland’s next phase of exploration at Rogozna project includes 20,000m of drilling at Gradina to support their maiden mineral resource estimate that is scheduled for release in late 2025. They are also preparing to undertake approximately 30,000m of resource- and discovery-focused drilling across the Rogozna project.
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