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Azzuro Resources PLC (ASX: AZ9) has secured a A$3.06M strategic investment from Kerry Resources Logistics (Hong Kong) Limited, providing fresh funding to advance exploration and technical studies across its Mongolian copper, gold, nickel and PGE projects.
The investment will see Kerry Resources subscribe for approximately 203.9 million CDIs at A$0.015 each, representing a 7% premium to Azzuro’s last traded price and a 10% premium to the company’s 15-day volume weighted average price.
Upon completion, Kerry Resources will hold approximately 19.9% of Azzuro’s expanded share capital, becoming a substantial shareholder. Under the agreement, the investor will also have the right to nominate one director to the board while maintaining a stake of at least 15%.
Funds from the placement will be directed towards exploration and evaluation activities across Azzuro’s Mongolian tenements, with a particular focus on advancing the Red Hill copper-gold project and the Oval copper-nickel-PGE discovery, as well as supporting general working capital requirements.
Gan-Ochir Zunduisuren, Managing Director of Azzuro Resources, commented, “This investment is a transformational step for Azzuro. Kerry Mining Group’s backing gives us the funding and technical muscle to unlock the full potential of both the Red Hill copper-gold VMS system and the Oval copper-nickel-PGE discovery, two high-grade assets in one of the world’s most prospective and underexplored mining regions. It is also a clear vote of confidence in our exploration team and what it has delivered over the past couple of years. The A$3 million investment fully funds our resource definition, metallurgical testwork and initial commercial study at Red Hill project, putting us on a clear path to turn discovery into value. Kerry brings strong, locally rooted technical and operating expertise in western Mongolia, and we’re excited to work with them to accelerate Azzuro’s journey from exploration to development.”
The placement is expected to complete on 19 October 2026 and does not require shareholder approval.
To learn more about this, please visit https://www.azzuroresources.com/
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