Thunderstruck Exploration Update License Renewal and $1.8M Private Placement
Thunderstruck advances Fiji exploration with $1.8m funding and camp completion despite dilution and lack of resources.
Thunderstruck Resources Ltd. (AWE) announced the completion of camp construction and access road development at its Liwa Gold-Silver Project, with drilling mobilization now underway. To support Fiji exploration programs and general working capital, the company closed a non-brokered private placement of approximately 12 million shares at $0.15 per share, raising gross proceeds of ~$1.8 million. No warrants were issued with this placement.
Subscribers to the placement include Zhaojin International Gold, which exercised pre-emptive rights to maintain a 19.99% stake, and Asia Pacific Group, which acquired an 18% stake. Additionally, Special Prospecting Licenses 1425 and 1416 were renewed to support the Liwa exploration campaign and a future program at the Korokayiu VMS prospect.
Thunderstruck Resources Ltd. (AWE) raised $1.8 million at $0.15 per share, a price that represents approximately a 36% premium over its prior May 2026 placement at $0.11 and a 25% premium over the current market price of $0.12. The company completed camp infrastructure and mobilized drilling operations, marking a logical progression following the May 2026 strategic investment and validating its ability to execute on its 2026 exploration plan. Additionally, license renewals have secured tenure for the immediate drilling campaign and the planned late-year Korokayiu program, mitigating near-term regulatory risk. While the financing extends the cash runway, the assets remain in the exploration stage, and the market likely priced in this follow-up funding given the prior strategic partnership and operational timeline.
Thunderstruck Resources Ltd. is an exploration-stage company focused on a ~336 km² land package in Fiji, featuring four primary prospects: Liwa (Au-Ag-Cu epithermal), Korokayiu (Zn-Cu VMS), Rama (Cu-Au porphyry), and Nakoro (Zn-Cu VMS). All assets remain in the exploration phase, and no NI 43-101 compliant mineral resources or reserves have been reported.
Historical and recent sampling has returned high-grade results, including rock samples up to 55 g/t Au at Liwa and drill intercepts up to 21.6% Zn and 2.94% Cu at Korokayiu. However, these are unverified historical figures or early-stage exploration data. The company is 100% owned and benefits from Fiji's established mining infrastructure, pro-mining regulatory environment, and low sovereign risk profile.