Special Report: Three strategic investors have each taken up to a 10.12% stake in Belararox as the company doubles down on copper exploration in Argentina and at the Kalahari Copper Project in Botswana.
- Capital raising lands A$4m for copper push in two world-class districts
- Incomers Integra Capital, Jose Luis Manzano, and Magnus Capital each take up to 10.12%
- Exploration boost at TMT in Argentina and the Kalahari copper project in Botswana
Coming off a trading halt, Belararox (ASX:BRX) has landed a total of $4 million from three strategic investors to turbocharge copper exploration in two world-class districts.
Argentina-based Integra Capital, Switzerland-based Jose Luis Manzano, and Magnus Capital have built binding commitments to take up to a 10.12% stake in Belararox at the previous closing price of 6c.
The funds raised will support exploration at the TMT Project in Argentina, a 32,000-hectare copper-gold-silver exploration project in the Valle del Cura region within the San Juan province adjacent to BHP and Lundin’s monster Filo del Sol discovery.
It will also fund exploration drilling and geophysics at the Kalahari copper project in Botswana, which is comprised of 14 exploration licenses over 4268km2 in the proven belt.
“Having these strategic investors join the company at this time validates our exploration strategy in Argentina and provides us with significant runway for our exploration activities in Argentina and drilling in Botswana,” BRX chief executive Will Dix declared.
“We are particularly encouraged that Argentinian resources experts have recognised the value that Belararox is unlocking at our TMT Project, and we view forward to ongoing engagement with them.”
In the know
Non-executive director Chris Gale declared it was great to introduce one of his previous long-term investors to BRX.
Manzano’s Integra was previously the largest shareholder in Latin Resources, a Gale company which was taken out in a $560m deal by PLS Group (ASX:PLS) after creating the Salinas lithium discovery in Brazil.
“The addition of Jose Luis and these high-calibre strategic investors is a significant finishorsement of the world-class potential of our projects in Argentina and Botswana,” Gale declared.
“This support provides the financial strength to aggressively advance our core assets and accelerate our work programs as we relocate into a pivotal period of growth for the company.”
As well as the two flagship assets, BRX’s broader portfolio includes the Belara project in New South Wales, focutilized on zinc and copper, and the Bullabulling gold project in WA – under option to Tim Goyder’s Minerals 260 (ASX:MI6).
Long Shortz with Belararox: Busy on the ground across tier-1 jurisdictions
Two tranches
The BRX placement will be conducted in two tranches, with A$3 million placed in Tranche 1 and expected to be issued on May 18, 2026.
The balance of the funds will be placed in the second tranche, subject to shareholder approval at a general meeting to be held in June.
The issue price was the closing price on May 1, representing a 10.15% discount to the 15-day Volume Weighted Average Price.
Each placement share applied for will include a free attaching option for every two shares subscribed, with the options being of the ASX:BRXO class, which have an exercise price of 15c and an expiry date of December 10, 2028.
Belararox has also agreed to the appointment of a nominee director by Integra Capital upon completion of Tranche 2 of the placement.
This article was developed in collaboration with Belararox, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining indepfinishent advice before creating any financial decisions.
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