en.Wedoany.com Reported - Australia's Ballymore Resources (ASX code: BMR) has increased the placement amount following its recently completed rights issue from the initially announced A$1.5 million to A$2 million. This placement brings the company's total financing to A$5.2 million, following the completion of a A$3.2 million rights issue.

The funds raised will be used to accelerate drilling activities at the company's key assets, including Dittmer, Ruddygore/Torpy's, Ravenswood, and Mount Molloy.

The rights issue was conducted at A$0.125 per share, with shareholders receiving one free attached option for every two new shares subscribed. The new options have an exercise price of A$0.22 per share and an expiry date of December 31, 2028. The placement terms are identical to those of the rights issue.

The additional A$0.5 million under the placement is expected to settle on July 2, 2026, with shares and options to be issued on July 3. Cygnet Capital acted as lead manager for both offerings.

Ballymore Resources holds a portfolio of exploration and development projects in Queensland, covering gold and base metals.

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