Northwire Canada EditionWednesday, July 29, 2026
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NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0%
Financings

Firefly Metals completes equity financing

By The Northwire Desk — AI Analysis Dec 17, 2025 · 19:47 FFM · 1.67 FireFly Metals Ltd.
FFM · Price

Executive Summary

  • Firefly Metals Ltd. has completed a comprehensive equity raising totaling approximately $139 million (Australian) / $127.3 million (Canadian) in gross proceeds, comprising an institutional placement, a bought deal offering, and a charity flow-through placement.
  • The company’s pro forma cash balance prior to transaction costs is $236.9 million (Australian).
  • The Canadian bought deal component was fully subscribed, including the exercise of the 15% overallotment option, resulting in the issuance of 22,115,385 ordinary shares.

Key Details

  • Total Gross Proceeds: Approximately $139 million (Australian) / $127.3 million (Canadian), before costs.
  • Pro Forma Cash Balance: $236.9 million (Australian) before transaction costs.
  • Institutional Placement:
    • Completed: December 12, 2025.
    • Gross Proceeds: $85.0 million (Australian) / ~$77.8 million (Canadian).
    • Price: $1.70 (Australian) per share.
    • Advisers: Canaccord Genuity (sole lead manager/bookrunner); Euroz Hartleys Ltd. and Argonaut Securities Pty. Ltd. (co-managers).
  • Canadian Bought Deal Offering:
    • Completed: December 17, 2025.
    • Gross Proceeds: $34.5 million (Canadian) / ~$37.7 million (Australian).
    • Price: $1.56 (Canadian) per share.
    • Shares Issued: 22,115,385 ordinary shares (including full exercise of 15% overallotment option).
    • Underwriters: BMO Capital Markets (lead underwriter/bookrunner), RBC Capital Markets, and Canaccord Genuity Corp.
  • Charity Flow-Through Placement:
    • Completed: December 11, 2025.
    • Gross Proceeds: ~$16.4 million (Australian) / $15.0 million (Canadian).
    • Price: ~$2.09 (Australian) per share.
    • Target: Canadian investors.
  • Share Purchase Plan (SPP):
    • Offer Price: $1.70 (Australian) per share.
    • Target Raise: Up to $5.0 million (Australian).
    • Status: Applications significantly exceeded the target; closed early on December 19, 2025, at 5 p.m. AWST.
  • Legal Advisers: Osler, Hoskin & Harcourt LLP (Canada); Hamilton Locke (Australia).

Notable Quotes

  • None explicitly quoted in the text, though the company states it is "pleased" regarding the underwriters' election to purchase their maximum entitlement.
Read the original news release →

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