PolarX Limited has firm commitments backing an A$5 million equity raising. The placement funds will finance new exploration at its Humboldt Range Gold Project in Nevada.
The company issued around 335 million new shares priced at A$0.015 per share. The issue price represented an 11.8% discount to the last traded price of the suspension before the halt. Moreover, it was at a discount of 18.4% to the 5-day VWAP of A$0.018.
The funds will be used towards two principal exploration programs: geophysical surveys and a 5,000-metre RC drill program in the second half of 2025, followed by a further 5,000-metre RC drill program in the first half of 2026.
The proceeds’ allocation is most specific: A$1.5 million toward drilling for 2025 and A$1.5 million for 2026, A$0.6 million toward geophysics, with the remainder of A$1.05 million applied to working capital. Issue costs are estimated at A$0.35 million.
The settlement is due for the new shares on Friday, 12 September 2025. The trading shall begin on Monday, 15 September 2025. Blue Ocean Equities Pty Ltd had been engaged as lead manager.
PolarX raises A$5M via 335M shares at A$0.015 for Humboldt Range exploration.
Northern Star JV Enhances Funding Capacity
The placement corresponds with the large joint venture operated between PolarX and Northern Star Resources. The Alaska Range project in the U.S. is the main focus of the partnership.
Northern Star has the capacity to invest up to A$17 million by March 2026. The staged commitment may reach almost A$60 million over five years. This kind of capital-backed structure supports PolarX as it seeks to chart its course in both Nevada and Alaska.
One key highlight of the PolarX Northern Star loan arrangement is how it provides security for shareholders. This J.V. emphasises PolarX taking charge of the Humboldt Range, while Northern Star accelerates the Alaska Range.
This financial arrangement helps minimise dilution to shareholders. It further streamlines exploration timelines toward an obvious funding route.
Where Will The RC Drilling Take Place?
The drilling campaign targets Star Peak and Fourth of July, two prospects within the Humboldt Range. These prospects have historically been known for gold and silver mineralisation.
A 10-kilometre RC drilling plan will be undertaken to expand known mineralised zones and test new targets interpreted from geophysical data. Airborne magnetic and induced polarisation surveys will aid in building up a detailed structural database.
This kind of exploration aims at delineating high-grade zones possibly suitable for future resource statements. With systematic RC drilling, PolarX is expected to deliver a stronger result for its investors.
Capital-Efficient Exploration Financing Supports Dual-Project Acceleration
PolarX termed its financial strategy as capital-efficient exploration financing. In this way, the fresh placement complements Northern Star’s JV funding without stretching shareholder equity.
The aim under the structure is to ensure that each project is independently funded. Humboldt Range receives fresh drilling funds, and Alaska Range receives JV investment.
Such balancing creates resilience during volatile commodity markets. PolarX, through both geographical and funding diversification, intends to minimise operational risk.
Investor interest remains strong for junior gold explorers. With gold recently trading above the US$3,500 per ounce, strong capital flows, and exploration projects arriving on Zaft Money. This is exactly what gives PolarX a favourable position in the market.
Investor interest stays strong as gold trades above US$3,500, boosting junior explorer funding.
When Will The New Shares Settle And Trade?
Placement shares are set to be fully settled on Friday, 12 September 2025; trading of the new shares will then commence on 15 September 2025, a Monday.
The tight turnaround for settlement and listing ensures liquidity certainty and also reflects the confidence of market players in this placement.
With project timelines clarified for existing and new shareholders, drilling works are expected to commence soon after settlement, holding the market’s attention.
Placement shares will settle on 12 September, with trading starting 15 September 2025.
PolarX Balances Short-Term Drilling With Long-Term Resource Growth
PolarX has set up its funding for the purpose of carrying out near-term exploration while ensuring longer-term resource growth.
Two-phase drilling in late 2025 and early 2026 will remain its short-term focus. Meanwhile, Northern Star’s JV financing will support larger-scale exploration over five years.
This dual-purpose plan adds a layer of diversification. In other words, shareholders get some exposure to drilling news flow on the immediate side and other strategic gains on the long end.
The very fact that PolarX can marry equity placements with JV financing demonstrates adaptability. For a junior explorer, such funding discipline adds a layer of market credibility.
Also Read: Jason Berton – Managing Director – PolarX Limited
FAQs
- What would the PolarX A$5M placement be for?
To fund geophysical surveys and 10 kilometres of RC drilling with the Humboldt Range project.
- How does the PolarX Northern Star loan assist?
The loan and JV funding reduce dilution to shareholders while securing long-term capital for the Alaska Range project.
- What exploration activities will take place in the Humboldt Range?
PolarX shall conduct IP and airborne magnetic surveys followed by two RC drilling campaigns totalling 10 kilometres.
- When will the placement shares become available for trading?
Settlement will occur on 12 September 2025, and trading will start from 15 September 2025.
