en.Wedoany.com Reported - Belararox has secured a new strategic investment partner, raising an additional A$2 million ahead of exploration at the Kalahari Copper Mine Project in Botswana.

Under binding commitments, the company will issue slightly more than 33.333 million new fully paid ordinary shares at an issue price of A$0.06, the same price as the previous A$4 million financing in May. The latest placement price represents a 25% premium to BRX's current share price, bringing total funds raised at A$0.06 to A$6 million.

Belararox (ASX: BRX) CEO Will Dix said the timing is ideal as the company prepares to commence drilling in Botswana. The company is pleased to have secured this additional funding following the placement announced last month and welcomes new investors to the share register. Dix believes that bolstering the treasury is optimal timing ahead of the inaugural drilling program at the northern prospect area of the Kalahari Copper Mine Project in Botswana.

The funds will be used for exploration drilling and geophysical work at the wholly-owned Kalahari Copper Mine Project. The financing will also support ongoing geological activities at the TMT Project in San Juan Province, Argentina, as well as general working capital, business development, and issuance costs. Recent exploration success at the Toro Central target within the TMT Project has confirmed a broad copper-gold-silver mineralization zone, enhancing the project's growth potential.

The placement is subject to shareholder approval at a general meeting scheduled for July 10, 2026. The company's broader asset portfolio also includes the Belara zinc-copper project in New South Wales and the Bullabulling gold project in Western Australia (the latter having granted an option to Minerals 260 (ASX: 260)).

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