ASX
217 days, 3 hours ago 
SLZ
Sultan Resources LTD
Cleansing Statement
Sultan Resources Ltd issued 10,952,380 listed options exercisable at $0.03, expiring on March 12, 2027, without a disclosure document.
Capital raise
 
ASX
217 days, 3 hours ago 
SLZ
Sultan Resources LTD
Application for quotation of securities - SLZ
Sultan Resources Ltd (SLZ) has applied for quotation of 10,952,380 options expiring on March 12, 2027, following shareholder approval at the AGM on November 21, 2024.
ASX
239 days, 6 hours ago 
SLZ
Sultan Resources LTD
Results of Meeting
Sultan Resources Limited (ASX: SLZ) reports that all resolutions put to its Annual General Meeting on November 21, 2024, were carried.
ASX
263 days, 10 hours ago 
SLZ
Sultan Resources LTD
Sultan to Undertake Placement to Raise up to $338,834
Sultan Resources Ltd (ASX: SLZ) announced a $338,834 placement to professional and sophisticated investors at $0.01 per share, representing a 20% discount to the last closing price, to fund due diligence and working capital.
ASX
267 days, 10 hours ago 
SLZ
Sultan Resources LTD
Trading Halt
Sultan Resources Limited (ASX: SLZ) requested a trading halt on the ASX, pending the release of an announcement regarding a capital raising.
Capital raise
 
ASX
268 days, 3 hours ago 
SLZ
Sultan Resources LTD
Response to ASX Price and Volume Query
Sultan Resources Limited (SLZ) saw its share price jump from $0.006 to $0.012, prompting an ASX price query, to which the company responded that it was unaware of any undisclosed information explaining the price surge.
ASX
270 days, 6 hours ago 
SLZ
Sultan Resources LTD
Notice of Annual General Meeting/Proxy Form
Sultan Resources Limited shareholders will vote on several resolutions at their Annual General Meeting on November 21, 2024, including the re-election of a director, approval of a 10% placement facility, and ratification of prior option issuances.
Capital raise
 
ASX
275 days, 11 hours ago 
SLZ
Sultan Resources LTD
Company Project Update
Sultan Resources Ltd (ASX: SLZ) is reviewing its asset base, focusing on gold and nickel-cobalt prospects in Australia and lithium exploration in Canada, while also seeking acquisitions in North America.
Delay expected
 
ASX
353 days, 10 hours ago 
SLZ
Sultan Resources LTD
Quarterly Activities/Appendix 5B Cash Flow Report
Sultan Resources provides an update on its activities for the quarter ended June 30, 2024, including exploration projects in Western Australia, Canada, and New South Wales, and reports a cash position of approximately $584,000.
Worse than expected
 
Delay expected
 
Capital raise
 
ASX
360 days, 10 hours ago 
SLZ
Sultan Resources LTD
Calesi Drill Results
Sultan Resources' drilling at the Calesi prospect, funded by Rio Tinto Exploration, revealed geochemical anomalies but no significant gold or nickel, leading Rio Tinto to withdraw from the farm-in agreement.
Worse than expected
 
ASX
444 days, 10 hours ago 
SLZ
Sultan Resources LTD
Quarterly Activities/Appendix 5B Cash Flow Report
Sultan Resources provides an update on its activities for the quarter ended March 31, 2024, focusing on projects in Western Australia, Canada, and New South Wales, and announces the completion of a capital raise.
Worse than expected
 
Delay expected
 
ASX
492 days, 2 hours ago 
SLZ
Sultan Resources LTD
Half Year Accounts
Sultan Resources Limited reports on its half-year financial results ending December 31, 2023, highlighting ongoing mineral exploration activities and a farm-in agreement with Rio Tinto Exploration.
Better than expected
 
Delay expected
 
Capital raise
 
SLZ 
Sultan Resources LTD 
ASX

Notice under Section 708AA(2)(f) of the Corps Act 2001

Sentiment:
 Capital Raise Announcement
 1 June 2025 6:52 PM

Sultan Resources Ltd. has announced a non-renounceable entitlement offer aiming to raise approximately $1.16 million to fund its ongoing exploration activities.

Capital raise
  Sultan Resources Ltd. has announced its intention to undertake an equity raising of up to approximately $1,157,349 before costs.  This capital raise will be conducted via a non-renounceable pro-rata entitlement offer of fully paid ordinary shares. 

Summary
  • Sultan Resources Limited has announced its intention to undertake an equity raising of up to approximately $1,157,349 before costs.
  • This capital raise will be conducted via a non-renounceable pro-rata entitlement offer of fully paid ordinary shares.
  • Eligible shareholders will be offered one new share for every one share held as at June 5, 2025.
  • If the entitlement offer is fully subscribed, an additional 231,469,910 shares will be issued.
  • The company currently has 71,381,006 options on issue, which must be exercised prior to the Record Date for holders to participate in the offer.
  • The entitlement offer is not underwritten, and any shortfall will be dealt with by the company at its discretion.
Sentiment

Score: 6

Explanation: The announcement details a standard capital raise, which is positive for funding future operations, but the non-underwritten nature introduces a degree of risk regarding the full subscription.

Positives
  • The equity raising provides a clear pathway to secure funding for the company's ongoing exploration activities.
  • Shareholders who participate in the entitlement offer will retain their percentage ownership in the company.
  • The issue of shares under the entitlement offer is not expected to have any material effect on the control of the company if all shareholders subscribe for their entitlements.
Negatives
  • The entitlement offer is not underwritten, which introduces a risk that the full target amount of approximately $1,157,349 may not be raised.
  • Any shortfall under the entitlement offer will be dealt with at the company's discretion, potentially leading to dilution for non-participating shareholders if new investors are brought in.
Risks
  • The primary risk is that the entitlement offer is not underwritten, meaning there is no guarantee that the full target amount of approximately $1,157,349 will be successfully raised.
  • Shareholders who do not exercise their options prior to the Record Date will not be able to participate in the entitlement offer.
  • Non-participating shareholders may experience dilution of their ownership percentage if the offer is fully subscribed or if any shortfall is placed with new investors.
Future Outlook

The funds raised from the entitlement offer are intended to support Sultan Resources' ongoing exploration activities across its prospective claims in NW Ontario, Canada, and the highly prospective east Lachlan Fold Belt of Central NSW, which are considered prospective for copper and gold.

Management Comments
  • The announcement is authorised by the Board of Sultan Resources Ltd.
  • Sultan's board and management is committed to the responsible discovery of metals via modern exploration techniques, and to add value to these projects for the benefit of the company and its shareholders.
Industry Context

This capital raise is a common and necessary step for junior mineral exploration companies like Sultan Resources, as they typically rely on equity funding to advance their exploration programs in highly prospective regions such as NW Ontario and the Lachlan Fold Belt, known for their copper and gold potential.

Stakeholder Impact
  • Shareholders will have the opportunity to maintain their percentage ownership by participating in the entitlement offer.
  • Non-participating shareholders may experience dilution if the offer is fully subscribed or if any shortfall is placed.
  • The capital raise is intended to benefit the company and its shareholders by funding ongoing exploration activities and adding value to projects.
Next Steps
  • Eligible shareholders with options must exercise them prior to the Record Date of June 5, 2025, to participate in the entitlement offer.
  • The company will proceed with the non-renounceable pro-rata entitlement offer as outlined.
  • The company will deal with any shortfall under the entitlement offer at its discretion.
Key Dates
  • 2 June 2025: Date of the ASX announcement regarding the cleansing notice and entitlement offer.
  • 5 June 2025: Record Date for determining eligible shareholders for the non-renounceable pro-rata entitlement offer.
Keywords
Equity raising, Entitlement offer, Non-renounceable, Pro-rata, Share offer, Capital raise, Sultan Resources, SLZ, Exploration, Copper, Gold, Lachlan Fold Belt, NW Ontario
SLZ 
Sultan Resources LTD 
ASX
Sector: Materials
 
Filings with Classifications
Delay expected
15 July 2025 9:23 PM
Capital Raising Update
  • The rights issue was extended to ensure that all shareholders had ample opportunity to participate.
Capital raise
7 July 2025 7:16 PM
Exploration Update
  • Proceeds from the current capital raising are in part intended to support early-stage exploration across the identified targets and progress towards drilling and potential discovery.
Capital raise
16 June 2025 6:47 PM
Capital Raise Update
  • The document details a pro-rata non-renounceable entitlement offer to raise approximately $1,157,349 before costs, with a shortfall offer also available.
Worse than expected
16 June 2025 6:47 PM
Capital Raise Update
  • The extension of the closing date for the entitlement offer suggests that the company did not receive the expected level of subscriptions by the original deadline.
Delay expected
16 June 2025 6:47 PM
Capital Raise Update
  • The closing date for the entitlement offer has been extended from Friday, 20 June 2025, to Friday, 4 July 2025.
Capital raise
10 June 2025 7:52 PM
Capital Raise Announcement
  • Sultan Resources Ltd is undertaking a non-renounceable pro-rata 1 for 1 entitlement offer to raise up to approximately $1,157,349 before costs.
  • The offer allows eligible shareholders to subscribe for new shares at an issue price of $0.005 per share.
Capital raise
1 June 2025 6:52 PM
Capital Raise Announcement
  • Sultan Resources Ltd. has announced its intention to undertake an equity raising of up to approximately $1,157,349 before costs.
  • This capital raise will be conducted via a non-renounceable pro-rata entitlement offer of fully paid ordinary shares.
Capital raise
1 June 2025 6:46 PM
Rights Issue Offer Document
  • Sultan Resources Ltd is conducting a non-renounceable pro-rata rights issue to raise approximately $1,157,349 before costs.
  • The Offer allows eligible shareholders to subscribe for one new share for every one share they currently hold at an issue price of $0.005 per share.
  • The funds raised are primarily earmarked for working capital, including exploration expenditure, administration, and staff remuneration, with a small portion covering offer expenses.
  • The Offer opens on June 11, 2025, and is scheduled to close on June 20, 2025, with new shares expected to be issued on June 27, 2025.
Capital raise
1 June 2025 6:40 PM
Capital Raise Announcement
  • Sultan Resources Ltd is undertaking a non-renounceable entitlement offer to raise up to approximately $1,157,349 before costs.
  • The offer is for 1 New Share for every 1 Share held by Eligible Shareholders at an issue price of $0.005 per Share.
  • The funds are intended to finance proposed exploration expenditure, project assessment, and working capital.
Capital raise
28 April 2025 2:50 AM
Quarterly Activities Report
  • The Company can raise additional capital to continue to fund its operations.
  • This has previously proven to be successful.
Delay expected
28 April 2025 2:50 AM
Quarterly Activities Report
  • Drilling at the Khal Nickel-Cobalt Project is delayed due to depressed nickel sentiment.
  • Reconnaissance activities at Kember were delayed after First Nation groups requested additional time to inform its members of planned activities.
Worse than expected
12 March 2025 2:11 AM
Half-Year Financial Report
  • The company reported a net loss of $283,664 for the half-year, which is worse than the previous period's loss of $406,844.
Delay expected
12 March 2025 2:11 AM
Half-Year Financial Report
  • Access to the Kember Project in Canada has been delayed due to prolonged negotiations with First Nation groups.
Capital raise
30 January 2025 9:20 PM
Quarterly Report
  • The company completed a placement to raise $338,834 during the quarter.
  • The company has indicated that it can raise additional capital to continue to fund its operations.
Delay expected
30 January 2025 9:20 PM
Quarterly Report
  • The Khal Nickel-Cobalt project has been delayed due to depressed nickel sentiment.
  • Field reconnaissance at the Kember Project was delayed due to negotiations with First Nation groups.
Capital raise
13 December 2024 12:55 AM
Options Issuance Notice
  • The company has issued options which, if exercised, could lead to a capital raise.
Capital raise
23 October 2024 6:32 PM
Trading Halt Announcement
  • The company is undertaking a capital raising.
Capital raise
20 October 2024 10:44 PM
Annual General Meeting Notice
  • The company is seeking shareholder approval for a 10% placement facility to raise capital.
  • The exact amount of capital to be raised will depend on market conditions and the number of equity securities issued.
Delay expected
15 October 2024 5:57 PM
Project Update
  • Reconnoissance activities at the Kember Project have been delayed due to consultations with First Nation groups.
  • The submission for OJEP funding at Kember may not be progressed if access isn't gained by mid-November 2024, potentially delaying exploration.
Delay expected
29 July 2024 7:07 PM
Quarterly Activities Report
  • Reconnaissance activities at the Kember Lithium Project have been delayed due to requests from a First Nation group.
Capital raise
29 July 2024 7:07 PM
Quarterly Activities Report
  • The Company can raise additional capital to continue to fund its operations.
  • This has previously proven to be successful.
Worse than expected
29 July 2024 7:07 PM
Quarterly Activities Report
  • Rio Tinto Exploration (RTX) has withdrawn from the farm-in agreement for the Calesi Ni Prospect (E70/5082) after drilling failed to find significant gold values.
Worse than expected
22 July 2024 6:36 PM
Exploration Update
  • The drilling results did not yield economically significant gold or nickel values, leading to Rio Tinto's withdrawal, indicating worse than expected outcomes.
Delay expected
29 April 2024 7:02 PM
Quarterly Activities Report
  • Reconnaissance activities at the Kember Lithium Project in Canada have been delayed due to First Nation consultation requirements.
Worse than expected
29 April 2024 7:02 PM
Quarterly Activities Report
  • Drilling at the Calesi prospect did not find support for magmatic nickel sulfides, which is worse than expected.
Better than expected
13 March 2024 2:30 AM
Half-Year Financial Report
  • The operating loss decreased to $406,844 from $1,261,284 in the prior corresponding period.
  • Basic and diluted loss per share improved to (0.27) cents from (1.51) cents.
Delay expected
13 March 2024 2:30 AM
Half-Year Financial Report
  • Ground conditions have been unsuitable for drilling at Reserve 18455 since receiving permission to drill.
Capital raise
13 March 2024 2:30 AM
Half-Year Financial Report
  • On 6 February 2024, the Company announced that it is undertaking a pro-rata non-renounceable attaching listed option (exercisable at $0.03 and expiring 3 years from the date of issue) for every three (3) New Shares subscribed for and issued.
  • The Offer closed on 5 March 2024.
  • under the Offer were issued on 12 March 2024.
  • The Company will liaise with the Underwriter to determine the allocation of the remaining Shortfall Securities in accordance with the term of the Underwriting Agreement (and sub-underwriting agreements) and complete the allotment of the Shortfall Securities.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.