Mount Ridley Mines Limited Announces Completion of Entitlement Offer and Commences Quotation of Ordinary Shares
Mount Ridley Mines Limited (ASX: MRD) closed its pro‑rated, non‑renounceable entitlement offer on 9 September 2025, raising $190,910 before costs. The offer, which was launched on 15 August 2025, provided existing shareholders with one new fully paid ordinary share for every three shares they held. In addition, shareholders who subscribed for two new shares received a free attaching option exercisable at $0.01 each up to 9 September 2030.
Details of the Entitlement Offer
| Item | Value |
|---|---|
| Offer Price | $0.002 per new ordinary share |
| Subscription Ratio | 1 new share for every 3 existing shares |
| Option Attachment | 1 free option for every 2 new shares |
| Option Strike Price | $0.01 per option |
| Option Expiry | 9 September 2030 |
| Target Capital | Up to $596,842 |
| Amount Raised | $190,910 (before costs) |
| Shares Issued | 95 454 664 new ordinary shares |
| Options Issued | 47 727 332 new options |
The proceeds from the offer will be used to support Mount Ridley’s exploration and development activities, particularly the Murchison gold project in Western Australia, which remains the company’s principal asset. The company also holds interests in the Boston project, which covers gold, silver, and copper tenements.
Application for Quotation of Ordinary Shares
In the same week, Mount Ridley applied to the Australian Securities Exchange (ASX) for the quotation of its newly issued ordinary shares. The application, filed on 16 September 2025, covers 95 454 664 shares, the exact number issued under the entitlement offer. Once approved, these shares will become available for trading on the ASX, providing investors with enhanced liquidity and visibility.
Option Quotation
On 16 September 2025 the company also notified the ASX of the issuance of 47 727 332 deferred options (MRDAP OPTION) that will expire on 9 September 2030. These options, attached to the entitlement offer, are unquoted securities but will be registered on the ASX’s deferred securities list, allowing shareholders to exercise them at the specified strike price.
Market Context
At the close on 11 September 2025, the share price of Mount Ridley was $0.003, within a 52‑week range of $0.01 (high) to $0.002 (low). With a market capitalisation of approximately AUD 3.58 million, the company remains a small‑cap entity in the metals and mining sector. The recent capital raise and upcoming listing of its ordinary shares represent significant steps toward increasing shareholder value and supporting the development of its key gold assets.
Forward Outlook
Mount Ridley’s leadership has indicated that the capital raised will accelerate exploration on the Murchison project and potentially enable the company to advance toward feasibility studies and production. The company’s focus on gold, coupled with its interests in silver and copper at Boston, positions it to benefit from rising commodity prices and renewed interest in diversified mining portfolios.
Investors should monitor the ASX listing status of the ordinary shares, as the availability of a liquid market will influence trading dynamics and potentially broaden the investor base for Mount Ridley Mines Ltd.