Tolu Minerals Limited (TOK) – $26.7m Placement

Argonaut acted as Sole Lead Manager to the $26.7 million placement for Tolu Minerals Limited (ASX:TOK). The placement received strong demand from both new and existing institutional and sophisticated investors, both in Australia and offshore.

Proceeds from the raise will be used to accelerate exploration activities across the broader Tolukuma structure and support the redevelopment of the Tolukuma Gold Mine. This includes study work, mine development, and dewatering activities. Argonaut is pleased to have worked with Iain Macpherson, Vern Wills, Craig Dawson, and the broader Tolu Minerals team, and looks forward to supporting the Company’s ongoing success.