Piche Resources Limited (ASX:PR2), a company focused on the exploration and development of resource projects, primarily in Argentina, has announced a successful A$2 million placement to advance exploration across its Argentine projects. The placement saw strong demand from both new institutional investors and existing shareholders. The company will issue approximately 11.76 million new fully paid ordinary shares at A$0.17 per share, representing a 9.7% premium to the last closing price of A$0.155 on Wednesday, October 29, 2025.
For each new share issued, Piche Resources will also issue a free attaching option (PR2O), exercisable at $0.25 on or before May 2, 2027. Funds raised from the placement will be allocated to ongoing exploration activities within the company’s Argentine project portfolio, as well as for general working capital and covering the costs associated with the offer. The placement will be completed in a single tranche, utilising the company’s LR 7.1 and 7.1A capacity, with 11,764,705 placement shares issued under Listing Rule 7.1A and an equivalent number of placement options issued under Listing Rule 7.1.
H&P Advisory Pty Ltd acted as the Lead Manager for the placement, receiving a fee of 6% on gross funds raised, as well as proceeds from any options exercised. Full details of the fees are available in the accompanying Appendix 3B. Managing Director Karilyn Farmer expressed satisfaction with the outcome, noting the strong support from both international institutional investors and existing shareholders. Farmer highlighted that the placement was oversubscribed and completed at a premium, attracting additional institutional interest from Australia and Europe.
The announcement has been approved by the Board of Directors. Further details can be obtained from Executive Chairman John (Gus) Simpson or Managing Director Karilyn Farmer. Piche Resources is an exploration company focusing on advancing its portfolio of resource projects.