PERTH, Australia,June 9, 2025/CNW/ - FireFly Metals Ltd (ASX: FFM) (TSX: FFM) (FireFlyorCompany) is pleased to announce a highly successful equity raising which ensures the Company is set for substantial ongoing growth through its Green Bay Copper-Gold Project inCanada. FireFly has received firm commitments to raise up to~A$95 million(before costs) by the issue of up to approximately 94.7 million fully paid ordinary shares in the Company (New Shares) under the Equity Raising (defined below). By utilising the Canadian flow-through provisions, the Company will receive an average price ofA$1per New Share, which is a discount of just 2.9% to the last sale price. FireFly Managing DirectorSteve Parsonssaid: "The overwhelming demand for the raising reflects the quality and growth outlook atGreen Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects. "The combination of the exceptionalGreen Bayasset, our proven exploration team and ourA$135mcash war chest is the ideal recipe for growth. "This outlook is further enhanced by the shortage of such outstanding projects which can meet investors' surging appetite for copper-gold exposure". Charity Flow-Through Placement The Company has received firm commitments under the Charity Flow-Through Placement to raise approximatelyC$10.0 million(~A$11.2 million)1, before costs, through the issue of approximately 7.6 million New Shares at an issue price of approximatelyC$1.32(A$1.49)per New Share (Flow-Through Shares) to be issued as Canadian "flow-through shares", which provide tax incentives to those investors for certain exploration expenditures that qualify under theIncome Tax Act(Canada). NINE you may qualify for special tax situation....
Pursuant to a block trade agreement between PearTree Securities Inc. (PearTree) and Canaccord Genuity (Australia) Limited (Canaccord Genuity), Canaccord Genuity will facilitate the secondary sale of the Flow-Through Shares acquired by PearTree clients under the Charity Flow-Through Placement to sophisticated and professional investors by way of a block trade atA$0.96per Flow-Through Share. https://finance.yahoo.com/news/highly-successful-raising-leaves-firefly-021100886.html The tax benefits associated with the Flow-Through Shares are available only to the initial investors (who are Canadian residents) and not to any other person who acquires the Flow-Through Shares through the on-sale or transfer of those Flow-Through Shares.
I've referred to the same two stocks repeatedly on here, and remain bullish on both. They dipped today to here : III ( Imperial Metals ) $5.13 Cdn ( P/E 5.31 ) 1 mo +41% YTD +169% SCZ ( Santa Cruz Silver ) $1.02 Cdn ( P/E 1.61 ) 1 mo +100% YTD +240% I recommended SCZ at $0.70 Cdn on this thread after they announced huge earnings started trading it under 60 cents. I recommended III at $2.68 Cdn bailed at $2.69 then bought my core position at $3.04 Cdn. Now you have to believe in the commodities but note those P/Es AFTER these huge moves.