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S 0.140 +0.0% BNKR 4.40 −2.2% QRO 0.045 +0.0% VCT 0.075 +36.4% PPP 1.15 +0.9% LMG 0.390 +0.0% GRDM 0.140 +0.0% ABRA 13.58 −4.1% WHY 0.295 +1.7% HHH 3.94 −0.2% COS 0.060 +0.0% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0% S 0.140 +0.0% BNKR 4.40 −2.2% QRO 0.045 +0.0% VCT 0.075 +36.4% PPP 1.15 +0.9% LMG 0.390 +0.0% GRDM 0.140 +0.0% ABRA 13.58 −4.1% WHY 0.295 +1.7% HHH 3.94 −0.2% COS 0.060 +0.0% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0%
Financings

Benz Announces Transformational A$75M Bought Deal

By The Northwire Desk — AI Analysis Jan 28, 2026 · 18:50 BZ · 2.65 Benz Mining Corp.
BZ · Price

Executive Summary

  • Benz Mining Corp. secured firm commitments for a bought‑deal placement of 32,327,587 CDIs at A$2.32 each, raising approximately A$75 million before costs.
  • The proceeds will substantially increase exploration activity at the Glenburgh and Mt Egerton gold projects, supporting resource growth, infill drilling, and extension work across multiple target zones.
  • Post‑placement, Benz’s pro‑forma cash balance is projected to be about A$94 million, positioning the company as well‑funded for its upcoming exploration programs.

Key Details

  • Placement Size: 32,327,587 new fully paid CHESS Depositary Interests (CDIs).
  • Issue Price: A$2.32 per CDI (identical to the 5‑day VWAP as of 28 Jan 2026).
  • Gross Proceeds: Approximately A$75 million before transaction costs.
  • Funding Use:
  • Continue RC and diamond drilling at Glenburgh (Icon, Tuxedo, broader system) for resource growth and infill.
  • Follow‑up drilling at Mt Egerton.
  • Geological & technical studies (assay analysis, modelling, interpretation).
  • Drill access preparation, heritage clearances, environmental approvals, field costs.
  • General corporate and administrative expenses to support ongoing operations.
  • Pro‑forma Cash Position: ~A$94 million after placement proceeds (based on current cash of ~A$19 million plus net proceeds).
  • Settlement & Trading Dates: Settlement expected 5 Feb 2026; CDIs to commence trading 6 Feb 2026.
  • Lead Managers/Bookrunners: SCP Resource Finance LP and Euroz Hartleys Limited (Joint Lead Managers and Joint Bookrunners).
  • Investor Support: Strong demand from two leading offshore institutional investors, including a global fund manager acting as cornerstone investor; additional support from existing substantial institutional shareholders.

Notable Quotes

  • Evan Cranston, Chair: “This bought capital raising is a transformational step for Benz, positioning the company to significantly increase activities at the Glenburgh project, following recent drilling success.”
  • Mark Lynch‑Staunton, CEO: Emphasized that the funds will enable accelerated exploration and resource definition across the company's gold portfolio.
Read the original news release →

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