Encounter Resources Secures AU$25 Million Through Placement
MT Newswires Live
Oct 30, 2025
Encounter Resources (ASX:ENR) secured AU$25 million through a placement of around 55.6 million shares at AU$0.45 each, with strong support from new and existing institutional, sophisticated, and professional investors, at an 11.7% discount to the five-day volume-weighted average price, according to a Thursday Australian bourse filing.
The funds will be used to expand drilling at the Aileron niobium-rare earth elements-copper project, accelerate copper exploration in the Paterson Province, and cover working capital and placement costs, the filing said.
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